According to Articles of Incorporation Pursuant to Article 459, Paragraph 1 of Companies Act of Japan
TOKYO, June 3, 2021 - Mitsubishi Electric Corporation(TOKYO: 6503) announced today that the company's Board of Directors resolved on June 3, 2021 to repurchase shares of the company's stock pursuant to the provisions of Article 459, paragraph 1 of the Companies Act, as well as Article 31 of the company's articles of incorporations, as shown below.
Reason for Repurchase of Company Shares
Based on the financial policies of Mitsubishi Electric's medium-term management plan, the company will repurchase its own stock to primarily enhance shareholder returns, strengthen capital efficiency.
Details of Repurchase
(1)
Type of Shares to Repurchase:
Common stock
40,000,000 shares (maximum unit)
(2)
Number of Shares to Repurchase:
Ratio of total issued and outstanding shares (excluding treasury
(3)
Aggregate Value of Repurchase:
stock): 1.86%
JPY 50 billion (maximum limit)
(4)
Repurchase Period:
June 4, 2021-March 31, 2022
(5)
Repurchase Method:
Market trades on Tokyo Stock Exchange
Note: Part or all of the above-mentioned repurchases might not be performed depending on market conditions and other factors.
(For reference) Status of treasury stock as of March 31, 2021 Total number of shares Issued and outstanding (excluding treasury stock)
Number of treasury stock
Note: The number of treasury stock includes 1,488,717 shares held through the Board Incentive Plan (BIP) Trust.
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About Mitsubishi Electric Corporation
With 100 years of experience in providing reliable, high-quality products, Mitsubishi Electric Corporation (TOKYO: 6503) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. Mitsubishi Electric enriches society with technology in the spirit of its "Changes for the Better." The company recorded a revenue of 4,191.4 billion yen (U.S.$ 37.8 billion*) in the fiscal year ended March 31, 2021. For more information, please visit www.MitsubishiElectric.com
*U.S. dollar amounts are translated from yen at the rate of ¥111=U.S.$1, the approximate rate on the Tokyo Foreign Exchange Market on March 31, 2021
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Mitsubishi Electric Corporation published this content on 03 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 June 2021 04:06:06 UTC.
Mitsubishi Electric Corporation is one of the world's leading manufacturers of electric and electronic equipment. Net sales (including intragroup) break down by family of products and by services as follows:
- industrial automation equipment (28.6%): programmable controllers, motor operators, counters, industrial robots, clutches, etc.;
- electric equipment (24.2%): generators, motors, transformers, power circuit breakers, testing systems, etc.;
- household appliances (22.4%): televisions, video recorders, air conditioners, refrigerators, lamps, vacuum cleaners, etc.;
- information and communication equipment (6.9%): mobile phones, satellites, aerials, medical and audiovisual equipment, servers, computers, etc.;
- electronic components and devices (4.7%): memory, logic integrated circuits, monitors, plasma screens, printed circuit cards, etc.;
- other (13.2%): financial services, real estate management, engineering and maintenance services, etc.
Net sales break down geographically as follows: Japan (52.1%), Asia (24.9%), Europe (11.1%), North America (10.3%) and other (1.6%).
MITSUBISHI ELECTRIC CORPORATION 
