FOR IMMEDIATE RELEASE | No. 3497 |
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| Investor Relations Inquiries | Media Inquiries |
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| Investor Relations Group, Corporate Finance Division | Public Relations Division |
| Mitsubishi Electric Corporation | Mitsubishi Electric Corporation |
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| | 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 (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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