19 Jul 2016 07:26
FOR IMMEDIATE RELEASE | No. 3036 |
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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 to Revise Number of Shares Constituting One Unitand Partially Amend Articles of Incorporation
TOKYO, July 19, 2016 - Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it has decided to revise its number of shares constituting one unit, or its trading unit, and to amend its articles of incorporation in accordance with Article 195, paragraph 1 of the Companies Act of Japan.
Mitsubishi Electric's number of shares constituting one unit will be changed from 1,000 shares to 100 shares effective from October 1, 2016. Simultaneously, the company's minimum share-trading unit on the Tokyo Stock Exchange will be changed from 1,000 shares to 100 shares.
The reduction in number of shares constituting one unit is aimed at providing increased investing opportunities to a wide range of investors and to improve share liquidity. The decision also has been made with respect to the Action Plan for Consolidating Trading Units, an initiative by stock exchanges in Japan to unify trading units at 100 shares.
Mitsubishi Electric's articles of incorporation will be partially amended as of October 1, 2016 as follows:
Current articles of incorporation | Articles of incorporation after amendment |
(Number of Shares Constituting One Unit) Article 7 The number of shares constituting one unit of shares of the Company shall be one thousand (1,000) shares. | (Number of Shares Constituting One Unit) Article 7 The number of shares constituting one unit of shares of the Company shall be one hundred (100) shares. |
Note: The amended portion is underlined.
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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 4,394.3 billion yen (US$ 38.8 billion*) in the fiscal year ended March 31, 2016. For more information visit:
www.MitsubishiElectric.com
*At an exchange rate of 113 yen to the US dollar, the rate given by the Tokyo Foreign Exchange Market on March 31, 2016