Key Developments: Mitsubishi Electric Corp (6503.T)

6503.T on Tokyo Stock Exchange

1,435JPY
30 Mar 2015
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Latest Key Developments (Source: Significant Developments)

R&I affirms Mitsubishi Electric's rating at "AA-" and stable outlook
2:00am 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 2015
Thursday, 19 Mar 2015 04:00am EDT 

Mitsubishi Electric Corp:Amended year-end dividend forecast to 18 yen per share for FY ending March 2015.Latest dividend forecast was an undetermined value.  Full Article

Mitsubishi Electric Corp revises consolidated full-year outlook for FY 2015
Thursday, 30 Oct 2014 12:15am EDT 

Mitsubishi Electric Corp:Says the company affirmed the consolidated full-year outlook for revenue at 4,220,000 million yen for FY ending March 2015.Operating profit forecast increased to 275,000 million yen from 260,000 million yen.Ordinary profit forecast increased to 285,000 million yen from 260,000 million yen.Net profit forecast increased to 190,000 million yen from 175,000 million yen.Earnings per share increased to 88.50 yen from 81.51 yen.FY 2015 revenues of 4,256.59 billion yen, net income of 186.84 billion yen – Thomson Reuters I/B/E/S.Comments the increased income in industrial automation division and home appliances division is the main reason for the forecast.  Full Article

Mitsubishi Electric Corp opens escalators and elevators QM Center
Wednesday, 1 Oct 2014 12:31am EDT 

Mitsubishi Electric Corp:Announces that it has completed its Elevators and Escalators QM (Quality & Manufacturing) center to develop and test global models while nurturing related personnel skills and know-how.Says the facility, located at the company's Inazawa Works in Aichi Prefecture, Japan will begin operating commercially on Oct. 1.  Full Article

Intel and Mitsubishi Electric collaborate to create factory automation systems
Monday, 29 Sep 2014 11:00am EDT 

Intel Corp:Says the company and Mitsubishi Electric Corp announced a new collaboration to develop factory automation (FA) systems with Internet of Things (IoT) technologies and a pilot program at Intel's backend manufacturing facility in Malaysia.As an initial collaboration, Intel and Mitsubishi Electric implemented the IoT and big data solution at Intel's backend manufacturing facility in Malaysia.Using an Intel Atom processor-based IoT gateway called the C Controller from Mitsubishi Electric's iQ-Platform, Intel was able to securely gather and aggregate data for the analytics server.  Full Article

Mitsubishi Electric Corp to modernize Deutsche Bahn ICE-2 train equipment
Thursday, 25 Sep 2014 03:00am EDT 

Mitsubishi Electric Corp:Receives project to modernize traction equipment in 46 Intercity Express 2 (ICE-2) High-Speed trains by Deutsche Bahn AG (DB).Products will be sequentially delivered after equipment for the first two trains receives homologation.DB announced its international tender to modernize the ICE-2 trains` traction equipment, the part that actually moves the trains forward, in 2013.Mitsubishi Electric will replace the current gate turn-off thyristor (GTO) power modules with insulated gate bipolar transistor (IGBT) power modules.Says the upgrade will result in decreased energy consumption and longer train life due to the new modules` reduced size and weight. Mitsubishi Electric will supply and install the new equipment, test the trains and assist in obtaining homologation.Bids were evaluated for reliability, energy consumption, maintainability, delivery schedule and price.  Full Article

Mitsubishi Electric Corp announces dividend policy
Monday, 22 Sep 2014 02:00am EDT 

Mitsubishi Electric Corp:Says the company plans to pay an interim dividend of 9 yen per share, as of the record date of Sept. 30.Says the actual dividend will be declared at the board of directors' meeting when financial results for the second quarter of fiscal 2015 are to be approved.  Full Article

Mitsubishi Electric Corp receives fine from National Development and Reform Commission
Wednesday, 20 Aug 2014 12:30am EDT 

Mitsubishi Electric Corp:Received fine of 44.88 million yuan from National Development and Reform Commission (NDRC) of China on Aug. 19, due to some trading of automotive parts in China of the company violated antitrust law.  Full Article

Mitsubishi Electric Raises H1 and Full-year Consolidated Outlook for FY 2015
Wednesday, 30 Jul 2014 12:59am EDT 

Mitsubishi Electric Corporation:Sees H1 2015 net sales to be at 1,980.0 bln yen compared to previous guidance of 1,950.0 bln yen.Sees H1 2015 operating income to be at 100.0 bln yen compared to previous guidance of 83.0 bln yen.Sees H1 2015 Income before income taxes to be at 110.0 bln yen compared to previous guidance of 93.0 bln yen.Sees H1 2015 Net income to be at 80.0 bln yen compared to previous guidance of 68.0 bln yen.Sees FY 2015 net sales to be at 4,220.0 bln yen compared to previous guidance of 4,180.0 bln yen.Sees FY 2015 operating income to be at 260.0 bln yen compared to previous guidance of 250.0 bln yen.Sees FY 2015 Income before income taxes to be at 260.0 bln yen compared to previous guidance of 260.0 bln yen.Sees FY 2015 Net income to be at 175.0 bln yen compared to previous guidance of 175.0 bln yen.  Full Article

Mitsubishi Electric Corp to open new engineering facility in kobe
Monday, 7 Apr 2014 09:30pm EDT 

Mitsubishi Electric Corp:Has completed construction of a new engineering facility in Kobe, Hyogo Prefecture.To strengthen the company's engineering framework for expanded infrastructure-related business in fields such as public projects, power plants/systems and railway transportation.The facility will start operating from the end of April.  Full Article

South Africa launches competition probe of auto parts suppliers

CAPE TOWN, Oct 13 - South Africa's competition authorities are investigating price fixing and collusive tendering in the automotive industry, with top Japanese component suppliers Panasonic and Mitsubishi Electric Corp among those being probed.

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