TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO:6503) announced today its cancellation of treasury stock pursuant to the provisions of Article 178 of the Companies Act, as shown below.
1. |
Class of shares to be cancelled: |
Common stock |
|
2. |
Number of shares to be cancelled: |
34,000,000 shares (1.58% of total number of issued shares before the cancellation) |
|
3. |
Cancellation date: |
May 31, 2024 |
(For reference) |
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1. |
Total number of shares issued after the cancellation |
2,113,201,551 shares |
|
2. |
Number of treasury stock after the cancellation |
24,809,310 shares |
|
Note: |
The number of shares to be cancelled is deducted from the number of treasury stock as of April 30, 2024. The number of treasury stock includes 1,807,321 shares held through the Board Incentive Plan (BIP) Trust. |
About Mitsubishi Electric Corporation
With more than 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 5,257.9 billion yen (U.S.$ 34.8 billion*) in the fiscal year ended March 31, 2024. For more information, please visit www.MitsubishiElectric.com
*U.S. dollar amounts are translated from yen at the rate of ¥151=U.S.$1, the approximate rate on the Tokyo Foreign Exchange Market on March 31, 2024
