REG - Mitsubishi Elect. - Statement re (Conclusion of Stock Repurchase)

Mitsubishi ElectricAnnouncement

09/03/2022 07:01

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RNS Number : 1600E  Mitsubishi Electric Corporation  09 March 2022

 

 

 

 FOR IMMEDIATE RELEASE                                 No. 3497

 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
 (mailto:Cad.Irg@rk.MitsubishiElectric.co.jp)          (mailto:prd.gnews@nk.MitsubishiElectric.co.jp)
                                                       www.MitsubishiElectric.com/news/

 

Mitsubishi Electric Announces Status and Conclusion of Company Stock
Repurchase

According to Articles of Incorporation Pursuant to Article 459, Paragraph 1 of
Companies Act of Japan

 

TOKYO, March 9, 2022 - Mitsubishi Electric Corporation
(https://www.mitsubishielectric.com/)  (TOKYO: 6503) announced today the
conclusion of its company stock repurchase, which was carried out pursuant to
the provisions of Article 459, paragraph 1 of the Companies Act as well as
Article 31 of the company's articles of incorporation, as approved by the
board of directors on June 3. Details are shown below.

 

 1.  Type of Shares Repurchased:  Common stock
 2.  Number of Shares:            1,378,500 shares
 3.  Aggregate Value:             JPY 1,917,705,500
 4.  Repurchase Period:           March 1,2022 to March 4, 2022
 5.  Repurchase Method:           Market trades on Tokyo Stock Exchange

 

For reference

1.  Resolution approved by board on June 3, 2021

 (1)  Type of Shares to Repurchase:  Common stock
 (2)  Number of Shares:              40,000,000 shares (maximum unit)

                                     Share of total issued and outstanding shares (excluding treasury stock): 1.86%
 (3)  Aggregate Value:               JPY 50 billion (maximum limit)
 (4)  Repurchase Period:             June 4, 2021 to March 31, 2022
 (5)  Repurchase Method:             Market trades on Tokyo Stock Exchange

Note: Part or all of the above-mentioned repurchases might not be performed
depending on market conditions and other factors.

 

2.  Total number and aggregate value of shares repurchased pursuant to the
abovementioned resolution of the Board of Directors (as of March 4, 2022)

 (1)  Total number of shares repurchased:     33,670,700 shares
 (2)  Aggregate value of shares repurchased:  JPY 49,999,829,600

 

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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

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