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

Mitsubishi ElectricAnnouncement

04/02/2022 07:00

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RNS Number : 7235A  Mitsubishi Electric Corporation  04 February 2022

 

 

 

 FOR IMMEDIATE RELEASE                                 No. 3484

 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 of Company Stock Repurchase

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

 

TOKYO, February 4, 2022 - Mitsubishi Electric Corporation
(https://www.mitsubishielectric.com/)  (TOKYO: 6503) announced today the
status of its repurchase of company stock 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 approved by the Board of Directors on June
3, as shown below.

 

 1.  Type of Shares Repurchased:             Common stock
 2.  Number of Shares Repurchased:           5,725,400 shares
 3.  Aggregate Value of Shares Repurchased:  JPY 8,534,859,450
 4.  Repurchase Period:                      January 1, 2022 to January 31, 2022
 5.  Repurchase Method:                      Market trades on Tokyo Stock Exchange

 

(For reference)

1.  Details of resolution approved by the Board of Directors on June 3, 2021

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

                                       Share of total issued and outstanding shares (excluding treasury stock): 1.86%
 (3)  Aggregate Value of Repurchase:   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 January 31, 2022)

 (1)  Total number of shares repurchased:     26,867,000 shares
 (2)  Aggregate value of shares repurchased:  JPY 40,398,417,500

 

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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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