Statement re (Improper QC Investigation Results)

Update on the Results of the Investigation into Improper Quality Control Practices (Second Report)

TOKYO, December 23, 2021 - Mitsubishi Electric Corporation (TOKYO: 6503) announces today receipt of the Second Report by an Investigative Committee of external experts (Chaired by Hiroshi Kimeda, Partner (Attorney-at-law), Nishimura & Asahi, previously announced on July 2, 2021) as part of the investigation it has been tasked with in relation to incidents involving quality-related improper practice at Mitsubishi Electric.

The investigation into quality practices at all of the company's manufacturing sites and plants (all 22 facilities) will continue. The company aims for the investigation to be completed by April 2022 and will then proceed with investigations into its group companies.

Mitsubishi Electric would like to reiterate its sincere apologies to all customers, valued stakeholders, and broader society for the impact of these incidents.

The company takes the findings and recommendations of the report very seriously and is committing to work as one Mitsubishi Electric Group to both prevent future recurrence and on reform so that the company can regain trust.

For information on measures taken by the company in response to the findings of the Invesitgative Committee's report to prevent future recurrence, please refer to the separate announcement made by the company "Update on investigation into improper quality control practices and implementation of reform roadmap (Second Report)" on December 23, 2021.

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About Mitsubishi Electric Corporation

With 100 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. Mitsubishi Electric enriches society with technology in the spirit of its "Changes for the Better." The company recorded a revenue of 4,191.4 billion yen (U.S.$ 37.8 billion*) in the fiscal year ended March 31, 2021. For more information, please visit www.MitsubishiElectric.com

*U.S. dollar amounts are translated from yen at the rate of \111=U.S.$1, the approximate rate on the Tokyo Foreign Exchange Market on March 31, 2021