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Mitsubishi Electric Corp (6503.T)

6503.T on Tokyo Stock Exchange

1,679JPY
17 Feb 2017
Change (% chg)

¥-26 (-1.55%)
Prev Close
¥1,706
Open
¥1,691
Day's High
¥1,691
Day's Low
¥1,673
Volume
4,524,100
Avg. Vol
7,046,298
52-wk High
¥1,802
52-wk Low
¥1,060

Latest Key Developments (Source: Significant Developments)

Mitsubishi Electric plans to invest at a plant in China- Nikkei
Wednesday, 18 Jan 2017 03:28pm EST 

Nikkei:Mitsubishi electric plans to invest an estimated 2 billion yen to boost the output capacity at a plant in jiangsu province.  Full Article

Japanese labor ministry accuses Mitsubishi Electric of labor law violations- Nikkei
Wednesday, 11 Jan 2017 04:48pm EST 

Nikkei:Japanese labor ministry's Kanagawa Prefecture Bureau sent papers on Mitsubishi Electric case to prosecutors, accusing co and one supervisor of labor law violations.  Full Article

Mitsubishi Electric to put elements of AI to work in driver-assist systems as early as year ending March 2018 - Nikkei
Friday, 22 Jul 2016 05:25pm EDT 

Nikkei:Mitsubishi Electric will put elements of AI to work in driver-assist systems as early as the year ending March 2018 - Nikkei.  Full Article

R&I affirms Mitsubishi Electric Corp‘s rating at "AA-" and stable outlook
Tuesday, 5 Apr 2016 02:00am EDT 

Mitsubishi Electric Corp:Rating and Investment Information, Inc. (R&I) affirms the company's issuer rating at "AA-".Rating outlook stable.  Full Article

Mitsubishi Electric amends year-end dividend forecast for FY 2016
Tuesday, 22 Mar 2016 02:00am EDT 

Mitsubishi Electric Corp:Amending year-end dividend forecast to 18 yen per share for FY ending March 2016.Latest dividend forecast was an undetermined value.  Full Article

Mitsubishi Electric Corp Comments on Korea Fair Trade Commission's Announcement Concerning Bidding of Automotive Starter Motors - ENPNWS
Wednesday, 24 Feb 2016 08:04pm EST 

Mitsubishi Electric Corp:Mitsubishi Electric Corp commented today on a decision by the Korea Fair Trade Commission (KFTC) that the company has violated antitrust regulations in connection with tenders in 2008 of automotive starter motors to a certain customer - ENPNWS.The KFTC announced that it will order Mitsubishi Electric to take corrective measures and pay a currently estimated surcharge of 630,000,000 won (approximately US$ 521,000).Mitsubishi Electric, which has been cooperating fully with the KFTC's investigation, will make a prompt and appropriate response after receiving the formal notice from the KFTC.Mitsubishi Electric, which takes this matter very seriously, reconfirms its commitment to thorough implementation of compliance measures as part of its efforts to maintain public trust. Competition Law Countermeasures Regarding Automotive Equipment.  Full Article

Mitsubishi Electric completes full acquisition of DeLclima SpA
Wednesday, 24 Feb 2016 06:30pm EST 

Mitsubishi Electric Corp:Completes acquisition of remaining 25.03 percent stake in DeLclima S.p.A. in which the co has owned 74.97 percent stake since Dec. 23.Says the transaction amount for the 25.03 percent stake in DeLclima S.p.A. is 170 million euros.Says the co raises stake in DeLclima S.p.A. to 100 percent ups from 74.97 percent, and DeLclima SpA becomes the wholly owned subsidiary of the co.  Full Article

Mitsubishi Electric Comments on Korea Fair Trade Commission's Announcement Concerning Bidding of Automotive Starter Motors
Tuesday, 23 Feb 2016 11:30pm EST 

Mitsubishi Electric Corp:Commented on a decision by the Korea Fair Trade Commission (KFTC) that the company has violated antitrust regulations (Monopoly Regulation and Fair Trade Act) in connection with tenders in 2008 of automotive starter motors to a certain customer.The KFTC announced that it will order Mitsubishi Electric to take corrective measures and pay a currently estimated surcharge of 630,000,000 won (approximately US$ 521,000).Says Mitsubishi Electric, which has been cooperating fully with the KFTC's investigation, will make a prompt and appropriate response after receiving the formal notice from the KFTC.  Full Article

Mitsubishi Electric Corp - S.Korea fines Denso, Mitsubishi Elec in car part price-fixing case - Reuters
Tuesday, 23 Feb 2016 09:41pm EST 

Mitsubishi Electric Corp:South Korea's anti-trust regulator fined Denso and Mitsubishi Electric a combined 1.14 billion won ($924,229.40) on Wednesday on charges of colluding to fix the prices of engine starter motors supplied to General Motors GM.N. - RTRS.This is the seventh price-fixing case involving global auto component makers probed by South Korea and comes amid a worldwide crackdown on car part cartels.In 2008, Denso and Mitsubishi Electric colluded on bid prices for the engine starter motors used in GM's Spark, Cruze and Orlando vehicles made in South Korea, the Fair Trade Commission said in a statement.Denso was fined 510 million won and Mitsubishi Electric 630 million won. Denso said it won't have to pay the fine because it has applied for a leniency program which enables a company to escape sanctions if on its own it reports the illegal conduct.An official at Mitsubishi Electric was not immediately available for comment.  Full Article

Mitsubishi Electric Corp - EU fines Mitsubishi Electric, Hitachi 137.8 mln euros - Reuters
Wednesday, 27 Jan 2016 12:03am EST 

Mitsubishi Electric Corp:European Union antitrust regulators fined Mitsubishi Electric and Hitachi Ltd a total of 137.8 million euros ($149.8 million) on Wednesday for fixing prices of car alternators and starters. - RTRS.World No. 2 car parts maker Denso avoided a fine as it alerted the European Commission to the existence of the cartel. Reuters had reported on Jan. 25 that the cartel would be sanctioned by the EU competition watchdog.Mitsubishi Electric received the biggest fine at 110.9 million euros while Hitachi's sanction came to 26.9 million euros - RTRS.  Full Article

More From Around the Web

BRIEF-Mitsubishi Electric plans to invest at a plant in China- Nikkei

* Mitsubishi electric plans to invest an estimated 2 billion yen to boost the output capacity at a plant in jiangsu province Source text for Eikon: Further company coverage: