MITSUBISHI ELECTRICAL COMPANY

PUBLIC RELATIONS DIVISION

7-3, Marunouchi 2-chome, Chiyoda-ku, Tokyo, 100-8310 Japan

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Mitsubishi Electric Announces Company Share Buyback Status

In accordance with the Articles of Association In accordance with Article 459, paragraph 1 of the Company Law of Japan

TOKYO, January 7, 2022Mitsubishi electric corporation(TOKYO: 6503) today announced the status of its repurchase of company shares in accordance with the provisions of Article 459, paragraph 1 of the Companies Law, as well as Article 31 of the Articles of Association of the company approved by the Board of Directors on June 3, as noted below.

1.

Type of shares redeemed:

Ordinary actions

2.

Number of shares repurchased:

4,656,500 shares

3.

Total value of shares repurchased:

6,863,686,350 JPY

4.

Redemption period:

December 1, 2021 to December 31, 2021

5.

Redemption method:

The market is traded on the Tokyo Stock Exchange

(For reference)

1. Terms of the resolution approved by the Board of Directors on June 3, 2021

(1)

Type of shares to be bought back:

Ordinary actions

40,000,000 shares (maximum unit)

(2)

Number of shares to buy back:

Share of total issued and outstanding shares (excluding

own shares): 1.86%

(3)

Overall surrender value:

JPY 50 billion (maximum limit)

(4)

Redemption period:

June 4, 2021 to March 31, 2022

(5)

Redemption method:

The market is traded on the Tokyo Stock Exchange

Note: Some or all of the above redemptions may not be completed depending on market conditions and other factors.

2. Total number and aggregate value of shares repurchased under the aforementioned resolution of the Board of Directors (as of December 31, 2021)

(1)

Total number of shares repurchased:

21,141,600 shares

(2)

Total value of shares repurchased:

31,863,558,050 JPY

###

About Mitsubishi Electric Corporation

With 100 years of experience in providing reliable and high quality products, Mitsubishi Electric Corporation (TOKYO: 6503) is a recognized global leader in the manufacture, marketing and sale of electrical and electronic equipment used in the processing of information and communications, space development and satellites. communications, consumer electronics, industrial technology, energy, transportation and building equipment. Mitsubishi Electric enriches the company with technology in the spirit of its “Changes for the better”. The company reported sales of 4,191.4 billion yen (US $ 37.8 billion *) in the fiscal year ended March 31, 2021. For more information, please visit www.MitsubishiElectric.com

* Amounts in US dollars are converted to yen at the rate of 111 = 1 USD, the approximate rate on the Tokyo foreign exchange market on March 31, 2021

Warning

Mitsubishi electric corporation published this content on January 07, 2022 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 07 January 2022 06:17:04 AM UTC.

Public now 2022

All the news on MITSUBISHI ELECTRIC CORPORATION
Sales 2022 4,532 B
39,090 million
39,090 million
Net income 2022 231B
1,992 million
1,992 million
Net cash 2022 389 B
3,358 million
3,358 million
PER 2022 ratio 13.8x
Yield 2022 2.67%
Capitalization 3 185 B
27,513 million
27,471 million
VE / Sales 2022 0.62x
VE / Sales 2023 0.59x
Number of employees 145,653
Free float 94.1%

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MITSUBISHI ELECTRIC CORPORATION Technical Analysis Trends

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Average consensus SURPASS
Number of analysts 19
Last closing price

JPY 1,496.00

Average price target

JPY 1,784.72

Spread / Average target 19.3%
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