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    6503   JP3902400005

MITSUBISHI ELECTRIC CORPORATION

(6503)
  Report
Delayed Japan Exchange  -  01:00 2022-11-30 am EST
1377.50 JPY   -0.97%
11/29Mitsubishi Electric to Launch Contact Image Sensor in New KD-CXF Series
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11/29Mitsubishi Electric Corporation to Launch Contact Image Sensor in New KD-CXF Series
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11/25Mitsubishi Electric : Quarterly report for the second quarter of fiscal 2023
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Mitsubishi Electric's ME Innovation Fund Invests in FTV LABS

09/26/2022 | 10:11pm EST

Startup engaged in field service management software for last-mile digitization

Mitsubishi Electric Corporation (TOKYO:6503) announced today that its ME Innovation Fund has invested in FTV LABS Pte. Ltd., a Singapore-based company that provides the field service management software “KEGMIL”. This is the fund’s second investment in a target company.

FTV LABS’s field service management software is helping to improve operational efficiency in manufacturing, construction, logistics and other industries, primarily in Southeast Asia. While deskwork has been made more efficient by enterprise-resources planning and customer-relationship management systems, workers in the field still must manage records manually, meaning that paper continues to account for a large percentage of such work. In response, KEGMIL has the potential to enable this last-mile digitization and knowledge retention.

Going forward, Mitsubishi Electric and FTV LABS plan to expand mutual business in Southeast Asia by enhancing fieldwork with a mobile-first approach to achieve greater operational efficiency.

Kelvin Ong, co-founder and CEO of FTV LABS, said: “With rising demand for essential technical services and talent shortage, KEGMIL aims to empower millions of deskless professionals with workflow automation and mobile-first technologies to drive operational efficiency, service performance, and knowledge retention.”

For the full text, please visit: www.MitsubishiElectric.com/news/


ę Business Wire 2022
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Analyst Recommendations on MITSUBISHI ELECTRIC CORPORATION
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Financials
Sales 2023 4 844 B 35 004 M 35 004 M
Net income 2023 220 B 1 593 M 1 593 M
Net cash 2023 307 B 2 217 M 2 217 M
P/E ratio 2023 13,2x
Yield 2023 2,95%
Capitalization 2 910 B 21 029 M 21 029 M
EV / Sales 2023 0,54x
EV / Sales 2024 0,51x
Nbr of Employees 145 696
Free-Float 93,8%
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Mean consensus OUTPERFORM
Number of Analysts 16
Last Close Price 1 377,50 JPY
Average target price 1 618,00 JPY
Spread / Average Target 17,5%
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Managers and Directors
Takeshi Sugiyama Executive President, CEO & Representative Director
Tadashi Kawagoishi CFO, Director, Head-Finance & Accounting
Mitoji Yabunaka Chairman
Eiichiro Mitani Chief Information Officer & Executive Officer
Kunihiko Kaga Chief Technology Officer & Executive Officer
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