Oil & Gas Evening / New speaker, Edison Oil Analyst Elaine Reynolds plus #TRP & Hardman CEO Book Tickets Now

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksMitsub.elec Regulatory News (MEL)

Share Price Information for Mitsub.elec (MEL)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 1,546.00
Bid: 0.00
Ask: 0.00
Change: 0.00 (0.00%)
Spread: 0.00 (0.00%)
Open: 0.00
High: 1,546.00
Low: 1,546.00
Yest. Close: 1,546.00
MEL Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

RNS Alerts are a premium feature

Login to your account

myTerminal is a premium feature

Login to your account

Don't have an account? Click here to register.

Final Results

Fri, 28th Apr 2017 07:00

RNS Number : 6550D
Mitsubishi Electric Corporation
28 April 2017

FOR IMMEDIATE RELEASE

No. 3102

Investor Relations Inquiries

Media Inquiries

Investor Relations Group, Corporate Finance Division

Public Relations Division

Mitsubishi Electric Corporation

Mitsubishi Electric Corporation

Cad.Irg@rk.MitsubishiElectric.co.jp

prd.gnews@nk.MitsubishiElectric.co.jp

www.MitsubishiElectric.com/news/

Mitsubishi Electric Announces Consolidated Financial Results for Fiscal 2017

TOKYO, April 28, 2017 - Mitsubishi Electric Corporation (TOKYO: 6503) announced today its consolidated financial results for fiscal 2017 (April 1, 2016- March 31, 2017).

Consolidated Financial Results

Net sales:

4,238.6

billion yen

(4% decrease from the previous fiscal year)

Operating income:

270.1

billion yen

(10% decrease from the previous fiscal year)

Income before income taxes:

296.2

billion yen

(7% decrease from the previous fiscal year)

Net income attributable to Mitsubishi Electric Corp.:

210.4

billion yen

(8% decrease from the previous fiscal year)

During the fiscal year ended March 31, 2017, the business environment was buoyed by the expanding U.S. economy and gradual recoveries in Japan and Europe, as well as modest improvement in China's economic slowdown. In addition, the yen became stronger against foreign currencies compared to the previous year, but weakened after the U.S. presidential election in November.

Under these circumstances, the Mitsubishi Electric Group has been working even harder than before to promote growth strategies rooted in its advantages, while continuously implementing initiatives to strengthen its competitiveness and business structure.

As a result, the Mitsubishi Electric Group has recorded a net sales of 4,238.6 billion yen for fiscal 2017, a decrease of 4% compared to the previous fiscal year, with decreased sales in the Energy and Electric Systems, Industrial Automation Systems, Information and Communication Systems, and Electronic Devices segments.

Consolidated operating income decreased by 10% compared to the previous fiscal year to 270.1 billion yen, due to decreased profits in the Energy and Electric Systems, Industrial Automation Systems, Information and Communication Systems, and Electronic Devices segments.

Consolidated Financial Results by Business Segment

Energy and Electric Systems

Total sales:

1,227.9

billion yen

(3% decrease from the previous fiscal year)

Operating income:

44.3

billion yen

(6.0 billion yen decrease from the previous fiscal year)

The social infrastructure systems business saw an increase in orders compared to the previous fiscal year due to increases in the transportation systems and the public utility systems businesses in Japan, while sales decreased compared to the previous fiscal year due to a decrease in the power systems business inside and outside Japan. In addition, the stronger yen had the negative influences.

The building systems business experienced decreases in both orders and sales compared to the previous fiscal year, due primarily to negative influences caused by the stronger yen, despite growth in the renewal business in Japan, as well as the installation business of new elevators and escalators outside Japan.

As a result, total sales for this segment decreased by 3% from the previous fiscal year. Operating income decreased by 6.0 billion yen from the previous fiscal year due primarily to a decrease in sales.

Industrial Automation Systems

Total sales:

1,310.1

billion yen

(1% decrease from the previous fiscal year)

Operating income:

140.0

billion yen

(19.0 billion yen decrease from the previous fiscal year)

The factory automation systems business saw an increase in orders compared to the previous fiscal year due primarily to growth in capital expenditures in the fields of smartphones and electric cars in China and organic light emitting diodes (OLED) mainly in Korea, while sales remained unchanged compared to the previous fiscal year due primarily to negative influences caused by the stronger yen.

The automotive equipment business saw decreases in both orders and sales compared to the previous fiscal year due primarily to stagnation in light motor car sales in Japan and the negative influences caused by the stronger yen, despite a buoyancy in car sales mainly in Europe.

As a result, total sales for this segment decreased by 1% from the previous fiscal year. Operating income decreased by 19.0 billion yen from the previous fiscal year due primarily to negative influences caused by the stronger yen.

Information and Communication Systems

Total sales:

447.7

billion yen

(20% decrease from the previous fiscal year)

Operating income:

12.7

billion yen

(2.2 billion yen decrease from the previous fiscal year)

The telecommunications equipment business saw decreases in both orders and sales compared to the previous fiscal year due primarily to the sellout of an affiliated company in the beginning of the fiscal year and decreased sales of communications infrastructure equipment.

The information systems and service business saw a decrease in sales compared to the previous fiscal year, mainly owing to a decrease in the system integrations business.

The electronic systems business saw no change in orders, while sales decreased compared to the previous fiscal year due to a decrease in large-scale projects in the space systems business.

As a result, total sales for this segment decreased by 20% from the previous fiscal year. Operating income decreased by 2.2 billion yen from the previous fiscal year due primarily to a decrease in sales.

Electronic Devices

Total sales:

186.5

billion yen

(12% decrease from the previous fiscal year)

Operating income:

8.3

billion yen

(8.4 billion yen decrease from the previous fiscal year)

The electronic devices business saw an increase in orders compared to the previous fiscal year due to an increase in demand for optical communication devices, while sales decreased by 12% compared to the previous fiscal year due to a decrease in demand for power modules and TFT-LCD modules, along with the negative influences caused by the stronger yen.

As a result, operating income decreased by 8.4 billion yen from the previous fiscal year due primarily to a decrease in sales.

Home Appliances

Total sales:

1,004.4

billion yen

(2% increase from the previous fiscal year)

Operating income:

69.6

billion yen

(5.8 billion yen increase from the previous fiscal year)

The home appliances business saw an increase in sales of 2% compared to the previous fiscal year due to increases in sales of air conditioners in the European, Chinese and North American markets and in sales of residential and industrial air conditioners in Japan, despite the negative influences caused by the stronger yen.

Operating income increased by 5.8 billion yen compared to the previous fiscal year largely due to an increase in sales.

Others

Total sales:

713.6

billion yen

(1% increase from the previous fiscal year)

Operating income:

23.2

billion yen

(0.4 billion yen decrease from the previous fiscal year)

Sales increased by 1% compared to the previous fiscal year due to increases mainly at affiliated companies involved in materials procurement.

Operating income decreased by 0.4 billion yen from the previous fiscal year due primarily to negative influences caused by the stronger yen.

Fundamental Dividend Distribution Policy and FY2017 Dividend

Fundamental dividend distribution policy

Mitsubishi Electric's fundamental policy is to comprehensively promote improvement in shareholder profit from the viewpoints of appropriate profit distribution commensurate with earnings performance of the respective fiscal year, as well as strengthening our financial standing through the company's internal reserves, with the ultimate goal of enhancing corporate value.

FY 2017 dividend

Considering the company's business performance and financial conditions in fiscal 2017, the company has decided to pay a year-end retained earnings dividend of 18 yen per share for fiscal 2017. Adding the interim dividend of 9 yen per share, the total annual dividend will be 27 yen per share. Payment is planned to begin on June 2, 2017.

The retained earnings dividend for fiscal 2018 is still undecided.

cf. In fiscal 2016, interim dividend was 9 yen and year-end dividend was 18 yen per share. (Annual dividend of 27 yen per share)

Financial Standing

An analysis on the status of assets, liabilities and equity on a consolidated basis

Total assets as of the end of this fiscal year increased from the end of the previous fiscal year by 120.0 billion yen to 4,180.0 billion yen. The change in the balance of total assets was mainly due to an 88.2 billion yen increase in cash and cash equivalents and an 81.2 billion yen increase in investments as a result of a rise in stock prices.

Total liabilities decreased from the end of the previous fiscal year by 83.1 billion yen to 2,039.3 billion yen. The outstanding balances of debts and corporate bonds decreased by 51.9 billion yen from the end of the previous fiscal year to 352.1 billion yen, resulting in a decline in the ratio of interest bearing debt to total assets to 8.4%, representing a 1.6 point decrease compared to the end of the previous fiscal year. Retirement and severance benefits decreased by 34.7 billion yen, mainly resulting from an increase in pension assets following a rise in stock prices, while the outstanding balance of trade payables increased by 6.4 billion yen.

Mitsubishi Electric Corporation shareholders' equity increased by 200.8 billion yen compared to the end of the previous fiscal year to 2,039.6 billion yen. Shareholders' equity ratio was recorded at 48.8%, representing a 3.5 point increase compared to the end of the previous fiscal year. The changes referred to above primarily resulted from an increase from recording a net income attributable to Mitsubishi Electric Corporation of 210.4 billion yen, along with an increase in accumulated other comprehensive income by 48.6 billion yen caused by such factors as a rise in stock prices, despite dividend payment of 57.9 billion yen.

An analysis on the status of cash flow on a consolidated basis

Cash flows from operating activities for this fiscal year decreased by 0.7 billion yen compared to the previous fiscal year to 365.9 billion yen (cash in). Cash flows from investing activities decreased by 106.8 billion yen compared to the previous fiscal year to 148.6 billion yen (cash out) due to decreases in purchases of short-term investments and investment securities and other factors. As a result, free cash flow was 217.3 billion yen (cash in). Cash flows from financing activities were 123.4 billion yen (cash out) mainly due to dividend payment.

Current Forecast for Fiscal 2018

Despite the uncertainty in business performance remaining high due to factors such as the U.K. government's policies on Brexit and operations of the new U.S. administration, the economic slowdown in China is expected to be mild, and global business conditions are facing gradual growth in the economy with buoyant expansion in the U.S. and a continued trend of recovery in Japan and Europe.

Under these circumstances, the Mitsubishi Electric Group aims to achieve its management targets by uplifting its business performance and financial standings through initiatives such as promoting more strongly its global operations centered around its growth-driving businesses, continuously increasing and strengthening profitability in each business and continuously implementing various Group-wide business improvement measures.

The current financial performance forecast for fiscal 2018 follows below.

Current consolidated forecast for fiscal 2018

Net sales

4,300.0

billion yen

(1% increase from fiscal 2017)

Operating income

280.0

billion yen

(4% increase from fiscal 2017)

Income before income taxes

300.0

billion yen

(1% increase from fiscal 2017)

Net income attributable to Mitsubishi Electric Corp.

215.0

billion yen

(2% increase from fiscal 2017)

Exchange rates for the forecast above is 105 yen to the US dollar and 110 yen to the euro.

Policy Regarding Financial Reporting Standards

Mitsubishi Electric will voluntarily adopt International Financial Reporting Standards (IFRS) for its consolidated financial statements from the first quarter of the fiscal year ending March 31, 2019 (April 1, 2018 to March 31, 2019), in place of U.S. generally accepted accounting principles (U.S. GAAP), in order to enhance international comparability of its financial information in the capital markets.

Consolidated Financial Results Summary

(In billions of yen except where noted)

FY '16 (A)

(Apr. 1, 2015 -

Mar. 31, 2016)

FY '17 (B)

(Apr. 1, 2016 -

Mar. 31, 2017)

B - A

B/A (%)

Net sales

4,394.3

4,238.6

(155.6)

96

Operating income

301.1

270.1

(31.0)

90

Income before income taxes

318.4

296.2

(22.2)

93

Net income attributable to

Mitsubishi Electric Corp.

228.4

210.4

(18.0)

92

Basic net income per share attributable to Mitsubishi Electric Corp.

106. yen

98. yen

(8. yen)

92

Dividend per share

Annual dividend

27 yen

27 yen

?

100

Interim dividend

9 yen

9 yen

Year-end dividend

18 yen

18 yen

Notes:

1) Consolidated financial charts made in accordance with U.S. GAAP.

2) The Company has 213 consolidated subsidiaries.

Consolidated Profit and Loss Statement

(In millions of yen)

FY '16

(Apr. 1, 2015 -

Mar. 31, 2016)

FY '17

(Apr. 1, 2016 -

Mar. 31, 2017)

(A)

% of total

(B)

% of total

B - A

B/A

(%)

Net sales

4,394,353

100.0

4,238,666

100.0

(155,687)

96

Cost of sales

3,071,435

69.9

2,950,729

69.6

(120,706)

96

Selling, general and

administrative expenses

1,013,264

23.0

1,014,389

23.9

1,125

100

Loss on impairment of

long-lived assets

8,482

0.2

3,444

0.1

(5,038)

41

Operating income

301,172

6.9

270,104

6.4

(31,068)

90

Other income

60,576

1.3

60,985

1.4

409

101

Interest and Dividends

8,573

0.2

7,653

0.2

(920)

89

Equity in earnings of

affiliated companies

29,433

0.6

21,508

0.5

(7,925)

73

Other

22,570

0.5

31,824

0.7

9,254

141

Other expenses

43,272

1.0

34,840

0.8

(8,432)

81

Interest

3,495

0.1

3,225

0.1

(270)

92

Other

39,777

0.9

31,615

0.7

(8,162)

79

Income before income taxes

318,476

7.2

296,249

7.0

(22,227)

93

Income taxes

77,046

1.7

73,484

1.7

(3,562)

95

Net income

241,430

5.5

222,765

5.3

(18,665)

92

Net income attributable to

the noncontrolling interests

12,936

0.3

12,272

0.3

(664)

95

Net income attributable to

Mitsubishi Electric Corp.

228,494

5.2

210,493

5.0

(18,001)

92

Consolidated Comprehensive Income Statement

(In millions of yen)

FY '16 (A)

(Apr. 1, 2015 -

Mar. 31, 2016)

FY '17 (B)

(Apr. 1, 2016 -

Mar. 31, 2017)

B - A

Net income

241,430

222,765

(18,665)

Other comprehensive income (loss), net of tax

Foreign currency translation adjustments

(70,881)

(22,968)

47,913

Pension liability adjustments

(86,516)

26,096

112,612

Unrealized gains (losses) on securities

(25,498)

42,684

68,182

Unrealized gains (losses) on derivative instruments

(8)

136

144

Total

(182,903)

45,948

228,851

Comprehensive income

58,527

268,713

210,186

Comprehensive income attributable to the noncontrolling interests

4,796

9,573

4,777

Comprehensive income attributable to Mitsubishi Electric Corp.

53,731

259,140

205,409

Consolidated Balance Sheet

(In millions of yen)

FY '16 (A)

(ended Mar. 31, 2016)

FY '17 (B)

(ended Mar. 31, 2017)

B - A

(Assets)

Current assets

2,551,863

2,623,596

71,733

Cash and cash equivalents

574,170

662,469

88,299

Trade receivables

1,035,168

1,037,201

2,033

Inventories

644,127

643,040

(1,087)

Prepaid expenses and other current assets

298,398

280,886

(17,512)

Long-term trade receivables

4,661

2,815

(1,846)

Investments

537,706

618,935

81,229

Net property, plant and equipment

712,599

732,611

20,012

Other assets

253,112

202,067

(51,045)

Total assets

4,059,941

4,180,024

120,083

(Liabilities)

Current liabilities

1,507,943

1,525,761

17,818

Bank loans and current portion of long-term debt

116,532

124,368

7,836

Trade payables

773,714

780,202

6,488

Other current liabilities

617,697

621,191

3,494

Long-term debt

287,507

227,756

(59,751)

Retirement and severance benefits

229,750

194,990

(34,760)

Other fixed liabilities

97,238

90,809

(6,429)

Total liabilities

2,122,438

2,039,316

(83,122)

(Equity)

Mitsubishi Electric Corp. shareholders' equity

1,838,773

2,039,627

200,854

Common stock

175,820

175,820

-

Capital surplus

211,999

212,530

531

Retained earnings

1,502,027

1,654,557

152,530

Accumulated other comprehensive income (loss)

(50,699)

(2,052)

48,647

Treasury stock at cost

(374)

(1,228)

(854)

Noncontrolling interests

98,730

101,081

2,351

Total equity

1,937,503

2,140,708

203,205

Total liabilities and equity

4,059,941

4,180,024

120,083

Balance of Debt

404,039

352,124

(51,915)

Accumulated other comprehensive income (loss):

Foreign currency translation adjustments

39,847

18,535

(21,312)

Pension liability adjustments

(184,231)

(156,993)

27,238

Unrealized gains on securities

93,742

136,352

42,610

Unrealized gains (losses) on derivative instruments

(57)

54

111

Consolidated Cash Flow Statement

(In millions of yen)

FY '16

(Apr. 1, 2015 - Mar. 31, 2016) (A)

FY '17

(Apr. 1, 2016 - Mar. 31, 2017) (B)

B - A

I

Cash flows from operating activities

1

Net income

241,430

222,765

(18,665)

2

Adjustments to reconcile net income to net cash provided by operating activities

(1) Depreciation of tangible fixed assets and other

151,015

144,928

(6,087)

(2) Deferred income taxes

24,355

17,966

(6,389)

(3) Decrease (increase) in trade receivables

1,583

(21,580)

(23,163)

(4) Decrease (increase) in inventories

39,220

(7,576)

(46,796)

(5) Decrease in other assets

7,612

19,239

11,627

(6) Increase (decrease) in trade payables

(21,754)

20,853

42,607

(7) Increase (decrease) in other liabilities

(92,810)

(37,843)

54,967

(8) Other, net

16,026

7,198

(8,828)

Net cash provided by operating activities

366,677

365,950

(727)

II

Cash flows from investing activities

1

Capital expenditure

(182,251)

(167,165)

15,086

2

Proceeds from sale of property, plant and equipment

2,400

9,049

6,649

3

Purchase of short-term investments and investment securities (net of cash acquired)

(63,872)

(6,007)

57,865

4

Proceeds from sale of short-term investments and investment securities (net of cash disposed)

8,511

23,560

15,049

5

Other, net

(20,231)

(8,069)

12,162

Net cash used in investing activities

(255,443)

(148,632)

106,811

I + II

Free cash flow

111,234

217,318

106,084

III

Cash flows from financing activities

1

Proceeds from long-term debt

110,108

145

(109,963)

2

Repayment of long-term debt

(93,163)

(58,489)

34,674

3

Increase (decrease) in bank loans, net

(13,912)

350

14,262

4

Dividends paid

(57,963)

(57,963)

0

5

Purchase of treasury stock

(43)

(854)

(811)

6

Reissuance of treasury stock

1

0

(1)

7

Other, net

(27,172)

(6,684)

20,488

Net cash provided by (used in) financing activities

(82,144)

(123,495)

(41,351)

IV

Effect of exchange rate changes on cash and cash equivalents

(23,437)

(5,524)

17,913

V

Net increase in cash and cash equivalents

5,653

88,299

82,646

VI

Cash and cash equivalents at beginning of period

568,517

574,170

5,653

VII

Cash and cash equivalents at end of period

574,170

662,469

88,299

Consolidated Segment Information

1. Sales and Operating Income by Business Segment

(In millions of yen)

Business Segment

FY '16

(Apr. 1, 2015 -

Mar. 31, 2016)

FY '17

(Apr. 1, 2016 -

Mar. 31, 2017)

C - A

D - B

C/A

(%)

Sales (A)

Operating income (B)

Sales (C)

Operating income (D)

Energy and Electric Systems

1,264,604

50,342

1,227,906

44,319

(36,698)

(6,023)

97

Industrial Automation Systems

1,321,937

159,160

1,310,136

140,073

(11,801)

(19,087)

99

Information and

Communication Systems

561,119

14,999

447,754

12,700

(113,365)

(2,299)

80

Electronic Devices

211,580

16,870

186,554

8,382

(25,026)

(8,488)

88

Home Appliances

982,064

63,856

1,004,415

69,696

22,351

5,840

102

Others

707,746

23,620

713,603

23,214

5,857

(406)

101

Subtotal

5,049,050

328,847

4,890,368

298,384

(158,682)

(30,463)

97

Eliminations and other

(654,697)

(27,675)

(651,702)

(28,280)

2,995

(605)

-

Total

4,394,353

301,172

4,238,666

270,104

(155,687)

(31,068)

96

*Notes: Inter-segment sales are included in the above chart.

2. Sales and Operating Income by Location

(In millions of yen)

Location

FY '16

(Apr. 1, 2015 -

Mar. 31, 2016

FY '17

(Apr. 1, 2016 -

Mar. 31, 2017)

C - A

D - B

C/A

(%)

Sales (A)

Operating income (B)

Sales (C)

Operating income (D)

Japan

3,563,530

173,383

3,402,132

152,027

(161,398)

(21,356)

95

North America

446,935

9,421

421,553

9,002

(25,382)

(419)

94

Asia (excluding Japan)

1,054,563

91,006

1,040,098

93,318

(14,465)

2,312

99

Europe

387,628

14,806

421,073

12,828

33,445

(1,978)

109

Others

50,260

904

46,854

2,458

(3,406)

1,554

93

Subtotal

5,502,916

289,520

5,331,710

269,633

(171,206)

(19,887)

97

Eliminations

(1,108,563)

11,652

(1,093,044)

471

15,519

(11,181)

-

Total

4,394,353

301,172

4,238,666

270,104

(155,687)

(31,068)

96

*Notes: Inter-segment sales are included in the above chart.

3. Sales by Location of Customers

(In millions of yen)

Location of Customers

FY '16

(Apr. 1, 2015 -

Mar. 31, 2016)

FY '17

(Apr. 1, 2016 -

Mar. 31, 2017)

B - A

B/A (%)

Sales (A)

% of total net sales

Sales (B)

% of total net sales

Japan

2,521,194

57.4

2,405,552

56.8

(115,642)

95

North America

447,578

10.2

422,259

10.0

(25,319)

94

Asia

(excluding Japan)

963,684

21.9

940,150

22.2

(23,534)

98

Europe

369,978

8.4

384,075

9.0

14,097

104

Others

91,919

2.1

86,630

2.0

(5,289)

94

Total overseas sales

1,873,159

42.6

1,833,114

43.2

(40,045)

98

Consolidated total

4,394,353

100.0

4,238,666

100.0

(155,687)

96

Cautionary Statement

The Mitsubishi Electric Group (hereafter "the Group") is involved in development, manufacture and sales in a wide range of fields including Energy and Electric Systems, Industrial Automation Systems, Information and Communication Systems, Electronic Devices and Home Appliances, and these operations extend globally, not only inside Japan, but also in North America, Europe, Asia and other regions. While the statements herein are based on certain assumptions and premises that the Group trusts and considers to be reasonable under the circumstances on the date of announcement, actual financial standings and operating results are subject to change due to any of the factors as contemplated hereunder and/or any additional factor unforeseeable as of the date of this announcement. Such factors materially affecting the expectations expressed herein shall include but are not limited to the following:

(1) Important trends

The Group's operations may be affected by trends in the global economy, social conditions, laws, tax codes and regulations.

(2) Foreign currency exchange rates

Fluctuations in foreign currency markets may affect the Group's sales of exported products and purchases of imported materials that are denominated in U.S. dollars or euros, as well as its Asian production bases' sales of exported products and purchases of imported materials that are denominated in foreign currencies.

(3) Stock markets

A fall in stock market prices may cause the Group to record devaluation losses on marketable securities, or cause an increase in retirement benefit obligations in accordance with a decline in the fair value of pension assets.

(4) Supply/demand balance for products and procurement conditions for materials and components

A decline in prices and shipments due to changes in the supply/demand balance, as well as an increase in material prices due to a worsening of material and component procurement conditions, may adversely affect the Group's performance.

(5) Fund raising

An increase in interest rates, the yen interest rate in particular, would increase the Group's interest expenses.

(6) Significant patent matters

Important patent filings, licensing, copyrights and patent-related disputes may adversely affect related businesses.

(7) Environmental legislation or relevant issues

The Group may incur losses or expenses owing to changes in environmental legislation or the occurrence of environmental issues. Such changes in legislation or the occurrence of environmental issues may also impact manufacturing and all corporate activities of the Group.

(8) Flaws or defects in products or services

The Group may incur losses or expenses resulting out of flaws or defects in products or services, and the lowered reputation of the quality of all its products and services may affect the entire Group.

(9) Litigation and other legal proceedings

The Group's operations may be affected by lawsuits or other legal proceedings against Mitsubishi Electric, its subsidiaries and/or equity-method affiliated companies.

(10) Disruptive changes

Disruptive changes in technology, development of products using new technology, timing of production and market introduction may adversely affect the Group's performance.

(11) Business restructuring

The Group may record losses due to restructuring measures.

(12) Information security

The performance of the Group may be affected by computer virus infections, unauthorized access and other unpredictable incidents that lead to the loss or leakage of personal information held by the Group or confidential information regarding the Group's business such as its technology, sales and other operations.

(13) Natural disasters

The Group's operations, particularly manufacturing activities, may be affected by the occurrence of earthquakes, typhoons, tsunami, fires and other large-scale disasters.

(14) Other significant factors

The Group's operations may be affected by the outbreak of social or political upheaval due to terrorism, war, pandemic by new strains of influenza and other diseases, or other factors.

http://www.rns-pdf.londonstockexchange.com/rns/6550D_-2017-4-28.pdf

###

About Mitsubishi Electric Corporation

With over 90 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. Embracing the spirit of its corporate statement, Changes for the Better, and its environmental statement, Eco Changes, Mitsubishi Electric endeavors to be a global, leading green company, enriching society with technology. The company recorded consolidated group sales of 4,238.6 billion yen (US$ 37.8 billion*) in the fiscal year ended March 31, 2017. For more information visit:

www.MitsubishiElectric.com

*At an exchange rate of 112 yen to the US dollar, the rate given by the Tokyo Foreign Exchange Market on March 31, 20

This information is provided by RNS
The company news service from the London Stock Exchange
END
FR IPMATMBJTMTR
Date   Source Headline
3rd Feb 20209:45 amRNS3rd Quarter Results
3rd Feb 20207:00 amRNS3rd Quarter Results
31st Oct 20197:00 amRNSHalf-year Report
24th Sep 20197:14 amRNSDividend Declaration
5th Aug 20199:04 amRNSMitsubishi Elect. - Statement re (Comments on KFTC Announcement)

Login to your account

Don't have an account? Click here to register.