Mitsubishi Electric Corp

Earnings data Q3 2021

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Mitsubishi Electric Corp. engages in the manufacture, development, and sale of electric and electronic equipment. It operates in the following business segments: Energy and Electric Systems, Industrial Automation Systems, Information and Communication Systems, Electronic Devices, Home Appliances, and Others. The Energy and Electric Systems segment offers power and transportation systems, elevators, escalators, and supervisory control systems. The Industrial Automation Systems segment covers industrial automation products and systems, measurement and control systems, automotive and electronic products, and car multimedia systems. The Information and Communication Systems segment includes wireless, closed circuit television, space, and satellite communication systems, antennas, radar devices, and information communications network systems. The Electronic Devices segment provides power, high frequency, and optical devices; and liquid crystal displays. The Home Appliances segment covers air-conditioning and photovoltaic power generation systems, televisions, recorders, and players. The Others segment comprises of material procurement, logistics, real estate, advertising, and financial services. The company was founded on January 15, 1921 and is headquartered in Tokyo, Japan.

WARRENDALE, Pa.--(BUSINESS WIRE)--Mitsubishi Electric Power Products, Inc., (MEPPI) today announced current President Tricia Breeger as its new CEO, effective April 1, 2023. Brian Heery, current Chief Executive Officer, will remain the Chairman of the Board for the organization. This announcement marks company history as Breeger is the first female CEO to be appointed throughout the Mitsubishi Electric Group Companies.

Tricia Breeger Named CEO of Mitsubishi Electric Power Products, Inc.

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO: 6503) announced today that its ME Innovation Fund has invested in SCADAfence Ltd., an Israeli-based startup company that provides the OT & IoT cybersecurity platform "SCADAfence Platform” as well the industry's only dedicated GRC platform, “Governance Portal”, as the third investment.

Mitsubishi Electric, ME Innovation Fund Invests in SCADAfence Ltd.

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it has developed what is believed to be the first industrial tomographic-imaging technology that uses a 300GHz terahertz wave for one-shot, one-direction measurements at any depth, suitable for low-impact scanning of biological organisms and moving objects with millimeter resolution.

Mitsubishi Electric Develops Tomographic Imaging Technology to Visualize Hidden Objects with Millimeter Accuracy

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO:6503) announced today that it has received an order for a static synchronous compensator (STATCOM) rated at ±700MVA, the world's largest capacity class, from Tohoku Electric Power Network Co., Inc., which is headquartered in Sendai, Miyagi Prefecture. The STATCOM is expected to be operational by the end of 2031.

Mitsubishi Electric Receives Order for ±700MVA STATCOM Aimed at Stabilizing Power Grid in Northeast Japan

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO:6503) announced today its dividend forecast for the current fiscal year ending March 31, 2023 (fiscal 2023). The full document on Mitsubishi Electric's financial results can be viewed at the following link: www.MitsubishiElectric.com/news The company plans to pay a year-end dividend of 26 yen per share, as of the record date of March 31, 2023, with due consideration on performance and financial standing in fiscal 2023.

Mitsubishi Electric Announces Dividend Policy for Fiscal 2023 (April 1, 2022 – March 31, 2023)

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO:6503) announced today that it will double a previously announced its investment plan to approximately 260 billion yen in the five-year period to March 2026 mainly for constructing a new wafer plant to increase production of silicon carbide (SiC) power semiconductors.

Mitsubishi Electric to Construct New Wafer Plant to Boost SiC Power Semiconductor Business

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO:6503) announced today that it won the contract from the Japan Meteorological Agency (JMA) to build the nation's newest geostationary meteorological satellite, known as the Himawari-10, which will be the fourth straight such satellite to be built by Mitsubishi Electric going back to the Himawari-7 some 20 years ago. The Himawari-10 is a successor to the Himawari-8 and Himawari-9, which are currently operating in geostationary orbit.

Mitsubishi Electric Wins New Japanese Meteorological Satellite Contract

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it ranked fourth globally and first among Japanese companies in terms of international patent applications filed in 2022 according to the Switzerland-based World Intellectual Property Organization (WIPO).

Mitsubishi Electric Ranked 4th Globally and 1st Among Japanese Companies in International Patent Applications Filed in 2022

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it has developed a 200Gbps (112Gbaud four-level pulse-amplitude modulation (PAM4)) electro-absorption modulator laser diode (EML) chip that doubles the speed of the company's existing 100Gbps EML chip thanks to a proprietary hybrid waveguide structure. Support for coarse wavelength division multiplexing (CWDM) of four wavelengths realizes 800Gbps transmission using four chips or 1.6Tbps using eight chips.

Mitsubishi Electric Develops 200Gbps (112Gbaud PAM4) EML Chip Supporting Four CWDM Signals

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation, a leading defense and space company, and Astroscale Holdings Inc., the market leader in satellite servicing and long-term sustainability across all orbits, announced today that Mitsubishi Electric has invested U.S. $25 million in Astroscale's Series G funding round.

Mitsubishi Electric and Astroscale to Develop and Produce Satellite Buses

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO: 6503) announces that an organizational reform will be conducted and a representative executive officer, the executive officer structure, and division of duties will be changed effective April 1, 2023, pursuant to a resolution passed during a regular meeting of the Board of Directors held on February 16, 2023. The Company also announces Executive Officers (Associate) to be appointed on the same date. 1.

Mitsubishi Electric Announces Organizational Reform Effective April 1 and Changes in Representative Executive Officers, Executive Officers and Executive Officers (Associate)

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO:6503) announced today that it entered into a share transfer agreement on February 16 to wholly acquire Scibreak AB, a Swedish-based company that develops direct current circuit breakers (DCCBs). The two firms aim to strengthen the competitiveness of their unified business by working closely on developing DCCB technologies for high-voltage direct current (HVDC) systems to support the increasing global deployment of renewable energy.

Mitsubishi Electric Acquires DC Circuit Breaker Developer Scibreak

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO:6503) announced today that it will donate a total of 20 million yen (approximately US$ 152,672) to aid victims of earthquakes that struck Southern Turkey. The donation will be made through the Embassy of the Republic of Turkey in Japan. The company's local subsidiaries in Turkey also plan to make a donation, and the Mitsubishi Electric Group will continue to provide support for recovery.

Mitsubishi Electric to Support Earthquake Relief in Southern Turkey

TOKYO--( BUSINESS WIRE )--Mitsubishi Electric Corporation (TOKYO:6503) announced today its consolidated financial results for the first 9 months and third quarter, ended December 31, 2022, of the current fiscal year ending March 31, 2023 (fiscal 2023).

Mitsubishi Electric Announces Consolidated Financial Results for the First 9 Months and Third Quarter of Fiscal 2023

TOKYO--( BUSINESS WIRE )--Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it will invest some 26.7 billion yen (about U.S.$ 222.5 million), in its subsidiary company Mitsubishi Electric India Pvt. Ltd. to establish a factory for the production of room air conditioners and compressors in India. Local production, targeted to start in October 2025, is expected to help the company meet growing demand in the Indian market. Initial annual capacity will total 300,000 room air conditioner outdoor units and, beginning in December 2025, 650,000 compressors.

Mitsubishi Electric to Build Plant in India for Room Air Conditioners and A/C Equipment Compressors

LAS VEGAS & WASHINGTON--( BUSINESS WIRE )--Mitsubishi Electric and Mitsubishi Electric America Foundation (MEAF) will present at this week's Consumer Electronics Show (CES) in Las Vegas on the benefits of harnessing the use of assistive technology to prepare and empower youth with disabilities to access workforce training programs to help fill today's high-tech employment gap and contribute to a global, sustainable smart society.

Mitsubishi Electric America Foundation Helps Fill Tech Employment Gap by Collaborating to Empower Youth with Disabilities

LAS VEGAS & CYPRESS, Calif.--( BUSINESS WIRE )--Mitsubishi Electric US, Inc. today announced its drone-based logistics operations management platform, called AnyMile, a holistic solution that is designed to enable businesses and fleet operators to schedule and manage cargo deliveries via drones over long distances of up to several hundred miles.

Mitsubishi Electric Announces AnyMile Drone-Based Logistics Operations Management Platform

LAS VEGAS & CYPRESS, Calif.--( BUSINESS WIRE )--Mitsubishi Electric will showcase cross-industry products and technologies this week at the Consumer Electronics Show (CES) in Las Vegas (Booth #3841 in the West Hall) that advance its corporate strategy to foster and help realize global, sustainable smart societies. Exhibits will include solutions that are designed to accelerate decarbonization, optimize use and re-use of vital resources, promote well-being and inclusion, and enhance safety and security.

Mitsubishi Electric Showcases Cross-Industry Products and Technology that Advance Global, Sustainable Smart Societies

TOKYO--( BUSINESS WIRE )--Mitsubishi Electric Corporation (TOKYO:6503) announced today that responsibility for the functions of investor relations (IR) and shareholder relations (SR) will be newly assigned to an Executive Officer, effective this coming January 1, pursuant to a resolution passed during a regular meeting of the Board of Directors on December 22. The company also announced a change in the company's IR and SR organizational structure, effective on the same date.

Mitsubishi Electric Announces Changes in Oversight and Structure of Investor Relations and Shareholder Relations

TOKYO--( BUSINESS WIRE )--Mitsubishi Electric Corporation (TOKYO: 6503, “Mitsubishi Electric”) and Mitsubishi Heavy Industries, Ltd. (TOKYO: 7011, “Mitsubishi Heavy Industries”) announced today that the two companies have reached a basic agreement to establish a joint venture to integrate their businesses in fields focused on power generator systems.

Mitsubishi Electric and Mitsubishi Heavy Industries Reach a Basic Agreement to Start Detailed Studies for Business Integration for Power Generator Systems

TOKYO--( BUSINESS WIRE )--Mitsubishi Electric Corporation (TOKYO: 6503) announced today that two new 12.75-13.25 GHz (Low-Ku band) 70W (48.3dBm) gallium-nitride high-electron-mobility transistors (GaN HEMTs) will be added to the company's GaN HEMT lineup for satellite-communication (SATCOM) earth stations. The two GaN HEMT products, one for multi-carrier1 communications and the other for single-carrier2 communications, support increased data-transmission capacity and smaller earth stations even in the Low-Ku band. The two products will be launched on January 15, 2023.

Mitsubishi Electric to Expand Range of Ku-band GaN-HEMT Lineup

TOKYO--( BUSINESS WIRE )--Mitsubishi Electric Corporation (TOKYO:6503) announced today that it has decided to apply for the delisting of its shares of common stock on the Official List of the Financial Conduct Authority (FCA), and the cancellation of the admission to trading of its common shares on the Main Market of the London Stock Exchange (LSE), in view of the very limited number of company shares being traded on the LSE, maintaining the listing would offer no significant benefit, and the delisting would have negligible effect on the company's shareholders or other investors. An application will be filed with the LSE within January 2023 and the delisting is expected to be completed by the beginning of February 2023. Mitsubishi Electric will continue to maintain its listing on the Tokyo Stock Exchange.

Mitsubishi Electric to Delist Shares on London Stock Exchange

TOKYO--( BUSINESS WIRE )--Mitsubishi Electric Corporation (TOKYO:6503) announced today that its new SLIMDIP-Z power semiconductor module, featuring an extra-high 30A rated current for use in inverter systems of home appliances, will be released in February 2023. The compact module will enable the SLIMDIPTM series to meet a wider range of power and size needs for inverter units, specifically by simplifying and downsizing systems for multifunctional and sophisticated products such as air conditioners, washing machines and refrigerators.

Mitsubishi Electric to Launch “SLIMDIP-Z” Power Semiconductor Module

TOKYO--( BUSINESS WIRE )--Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it has developed an AI technology to detect dangerous behavior by applying KOTSUMON®* motion analysis, one of the company's proprietary Maisart®** AI technologies. The solution analyzes the movements of multiple persons in a video to identify violence between correlated people.

Mitsubishi Electric's AI Detects Dangerous Behavior in Videos

TOKYO--( BUSINESS WIRE )--Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it will begin shipping samples of a new thermal sensor capable of measurements up to 200°C on February 1, 2023. The company's existing MelDIR, launched in 2019, measures temperatures from -5°C to 60°C for applications including heating, ventilation and air conditioning (HVAC), security, people counting, and smart buildings. In response to demands for measuring higher temperatures in kitchens and factories, however, the new MelDIR ”MIR8060B3” uses advanced signal processing and an optimized lens to measure temperatures up to 200°C. It also is expected to help shorten the lead time between product planning and production by user support tools such as thermal- imaging examples, demonstration kits and reference designs.1

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