Mitsubishi Electric Corporation Statement re (Dividend Policy for Fiscal 2017) (1733A)

TIDMMEL

RNS Number : 1733A

Mitsubishi Electric Corporation

22 March 2017

 
 FOR IMMEDIATE RELEASE                 No. 3092 
 
 Investor Relations Inquiries          Media Inquiries 
 Investor Relations Group,             Public Relations Division 
  Corporate Finance Division 
 Mitsubishi Electric Corporation       Mitsubishi Electric 
                                        Corporation 
 [e-mail]   [e-mail] 
                                       www.MitsubishiElectric.com/news/ 
 
 

Mitsubishi Electric Announces Dividend Policy for Fiscal 2017

(April 1, 2016-March 31, 2017)

TOKYO, March 22, 2017 - Mitsubishi Electric Corporation (TOKYO: 6503) announced today its dividend forecast for the current fiscal year ending March 31, 2017 (fiscal 2017).

The company plans to pay a year-end dividend of 18 yen per share, as of the record date of March 31, 2017, with due consideration of performance and financial standing in fiscal 2017. The actual dividend will be declared at the Board of Directors' meeting when financial results for fiscal 2017 are to be approved.

 
   Dividend per share         Interim           Year-end       Annual dividend 
                              dividend          dividend 
========================  ===============  =================  ================= 
 Fiscal 2017               9 yen (actual)   To be determined   To be determined 
  (previous announcement 
  as of Feb. 2, 2017) 
------------------------  ---------------  -----------------  ----------------- 
 Fiscal 2017 (present      9 yen (actual)        18 yen             27 yen 
  announcement) 
------------------------  ---------------  -----------------  ----------------- 
 Fiscal 2016 (actual)          9 yen             18 yen             27 yen 
------------------------  ---------------  -----------------  ----------------- 
 

Cautionary Statement

The Mitsubishi Electric Group (hereafter "the Group") is involved in development, manufacture and sales in a wide range of fields including Energy and Electric Systems, Industrial Automation Systems, Information and Communication Systems, Electronic Devices and Home Appliances, and these operations extend globally, not only inside Japan, but also in North America, Europe, Asia and other regions. While the statements herein are based on certain assumptions and premises that the Company trusts and considers to be reasonable under the circumstances on the date of announcement, actual operating results are subject to change due to any of the factors as contemplated hereunder and/or any additional factor unforeseeable as of the date of this announcement. Such factors materially affecting the expectations expressed herein shall include but are not limited to the following:

(1) Important trends

The Group's operations may be affected by trends in the global economy, social conditions, laws, tax codes and regulations.

(2) Foreign currency exchange rates

Fluctuations in foreign currency markets may affect the Group's sales of exported products and purchases of imported materials that are denominated in U.S. dollars or euros, as well as its Asian production bases' sales of exported products and purchases of imported materials that are denominated in foreign currencies.

(3) Stock markets

A fall in stock market prices may cause Mitsubishi Electric to record devaluation losses on marketable securities, or cause an increase in retirement benefit obligations in accordance with a decline in the fair value of pension assets.

(4) Supply/demand balance for products and procurement conditions for materials and components

A decline in prices and shipments due to changes in the supply/demand balance, as well as an increase in material prices due to a worsening of material and component procurement conditions, may adversely affect the Group's performance.

(5) Fund raising

An increase in interest rates, the yen interest rate in particular, would increase the Group's interest expenses.

(6) Significant patent matters

Important patent filings, licensing, copyrights and patent-related disputes may adversely affect related businesses.

(7) Environmental legislation or relevant issues

The Group may incur losses or expenses owing to changes in environmental legislation or the occurrence of environmental issues. Such changes in legislation or the occurrence of environmental issues may also impact manufacturing and all corporate activities of the Group.

(8) Flaws or defects in products or services

The Group may incur losses or expenses resulting out of flaws or defects in products or services, and the lowered reputation of the quality of all its products and services may affect the entire Group.

(9) Litigation and other legal proceedings

The Group's operations may be affected by lawsuits or other legal proceedings against Mitsubishi Electric, its subsidiaries and/or equity-method affiliated companies.

   (10)   Disruptive changes 

Disruptive changes in technology, development of products using new technology, timing of production and market introduction may adversely affect the Group's performance.

   (11)   Business restructuring 

The Group may record losses due to restructuring measures.

   (12)   Information security 

The performance of the Group may be affected by computer virus infections, unauthorized access and other unpredictable incidents that lead to the loss or leakage of personal information held by the Group or confidential information regarding the Group's business such as its technology, sales and other operations.

   (13)   Natural disasters 

The Group's operations, particularly manufacturing activities, may be affected by the occurrence of earthquakes, typhoons, tsunami, fires and other large-scale disasters.

   (14)   Other significant factors 

The Group's operations may be affected by the outbreak of social or political upheaval due to terrorism, war, pandemic by new strains of influenza and other diseases, or other factors.

###

About Mitsubishi Electric Corporation

With over 90 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. Embracing the spirit of its corporate statement, Changes for the Better, and its environmental statement, Eco Changes, Mitsubishi Electric endeavors to be a global, leading green company, enriching society with technology. The company recorded consolidated group sales of 4,394.3 billion yen (US$ 38.8 billion*) in the fiscal year ended March 31, 2016. For more information visit:

www.MitsubishiElectric.com

*At an exchange rate of 113 yen to the US dollar, the rate given by the Tokyo Foreign Exchange Market on March 31, 2016

This information is provided by RNS

The company news service from the London Stock Exchange

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March 22, 2017 03:00 ET (07:00 GMT)