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Mitsubishi Electric announces cancellation of own shares

TOKYO, May 9, 2024–(BUSINESS WIRE)–Mitsubishi Electric Corporation (TOKYO: 6503) today announced the cancellation of its treasury shares in accordance with the provisions of Article 178 of the Corporation Law, as set out below.

1.

Class of shares to be canceled:

Ordinary actions

2.

Number of actions to cancel:

34,000,000 shares

(1.58% of the total number of shares issued before cancellation)

3.

Cancellation date:

May 31, 2024

(For reference)

1.

Total number of shares issued after cancellation

2,113,201,551 shares

2.

Number of own shares after cancellation

24,809,310 shares

Note:

The number of shares to be canceled is deducted from the number of treasury shares as of April 30, 2024. The number of treasury shares includes 1,807,321 shares held through the Board Incentive Plan (BIP) Trust.

About Mitsubishi Electric Corporation

With over 100 years of experience in providing high-quality, reliable products, Mitsubishi Electric Corporation (TOKYO: 6503) is a recognized global leader in the manufacturing, marketing and sales of electrical and electronic equipment used in the information processing and communications, spatial development. and satellite communications, consumer electronics, industrial technology, energy, transportation and construction equipment. Mitsubishi Electric enriches society through technology in the spirit of its “Changes for the Better” program. The company reported revenue of 5,257.9 billion yen ($34.8 billion*) in the fiscal year ended March 31, 2024. For more information, please visit www.MitsubishiElectric.com
*US dollar amounts are converted from yen at the rate of ¥151 = US$1, the approximate rate on the Tokyo foreign exchange market as of March 31, 2024.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240508757182/en/

Contacts

Investor Relations Inquiries
Corporate IR&RS Division
Mitsubishi Electric Company
Tel: +81-3-3218-2391
[email protected]

Media inquiries
Takeyoshi Komatsu
Public Relations Division
Mitsubishi Electric Company
Tel: +81-3-3218-2332
[email protected]
www.MitsubishiElectric.com/news/