-

Notice Regarding Repurchase of Company Shares

According to Articles of Incorporation Pursuant to Article 459, Paragraph 1 of Companies Act of Japan

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO: 6503) announced today that the company’s Board of Directors resolved on August 29, 2024 to repurchase shares of the company’s stock pursuant to the provisions of Article 459, paragraph 1 of the Companies Act, as well as Article 31 of the company’s articles of incorporations, as shown below.

1. Reason for Repurchase of Company Shares

Based on the financial policies of Mitsubishi Electric’s medium-term management plan, the company will repurchase its own stock to primarily enhance shareholder returns, strengthen capital efficiency.

2. Details of Repurchase

(1) Type of Shares to Repurchase:

Common stock

(2) Number of Shares to Repurchase:

20,000,000 shares (maximum unit)
0.96% of issued and outstanding shares (excluding treasury stock)

(3) Aggregate Value of Repurchase:

JPY 30 billion (maximum limit)

(4) Repurchase Period:

August 30, 2024-October 31, 2024

(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.

(For reference) Status of treasury stock as of July 31, 2024

Total number of shares Issued and outstanding
(excluding treasury stock)

2,088,228,171 shares

Number of treasury stock

24,973,380 shares

Note: The number of treasury stock includes 1,970,772 shares held through the Board Incentive Plan (BIP) Trust.

For the full text, please visit: www.MitsubishiElectric.com/news/

Contacts

Investor Relations Inquiries
Corporate IR&SR Division
Mitsubishi Electric Corporation
Cad.Irg@rk.MitsubishiElectric.co.jp

Media Inquiries
Madoka Iwanaga
Public Relations Division
Mitsubishi Electric Corporation
Tel: +81-3-3218-2332
prd.gnews@nk.MitsubishiElectric.co.jp
www.MitsubishiElectric.com/news/

Mitsubishi Electric Corporation

TOKYO:6503

Release Versions

Contacts

Investor Relations Inquiries
Corporate IR&SR Division
Mitsubishi Electric Corporation
Cad.Irg@rk.MitsubishiElectric.co.jp

Media Inquiries
Madoka Iwanaga
Public Relations Division
Mitsubishi Electric Corporation
Tel: +81-3-3218-2332
prd.gnews@nk.MitsubishiElectric.co.jp
www.MitsubishiElectric.com/news/

More News From Mitsubishi Electric Corporation

Mitsubishi Electric Named to Clarivate AI50 2026 as an Organization Leading Artificial Intelligence Inventions

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO: 6503) announced today that Clarivate Plc, a global information services company based in the United Kingdom, has recognized Mitsubishi Electric as a Clarivate AI50 2026 organization for its leadership in artificial intelligence (AI) inventions. The recognition reflects the high regard for Mitsubishi Electric’s achievements in AI-related intellectual property (IP). This prestigious designation follows the company’s announcement in J...

Mitsubishi Electric Acquires Irish Elevator Company Infinity Lifts

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it has agreed to wholly acquire the shares of Infinity Lifts Limited, an Irish elevator company based in Ennis, effective March 18. The transaction is expected to be completed in the first half of 2026, subject to the approval of the necessary regulatory authorities and the fulfillment of other customary closing conditions. Mitsubishi Electric and its Tokyo-based subsidiary Mitsubishi Electric Building So...

Mitsubishi Electric Group Launches New Corporate Philosophy

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it has launched Mitsubishi Electric group’s new corporate philosophy, named Our Philosophy, to update the corporate spirit long upheld by the company and its global group. Mitsubishi Electric aims to transform into an “Innovative Company” that generates value through bold thinking and a willingness to embrace risk while operating diverse global businesses to drive growth and address social and environment...
Back to Newsroom