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MEL Mitsubishi Electric Corporation

1,886.8026
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Mitsubishi Electric Corporation LSE:MEL London Ordinary Share JP3902400005 COM STK Y50
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1,886.8026 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Mitsubishi Electric Corporation Statement re (Sales of Investment Securities) (3621J)

28/06/2017 7:00am

UK Regulatory


TIDMMEL

RNS Number : 3621J

Mitsubishi Electric Corporation

28 June 2017

 
 FOR IMMEDIATE RELEASE                 No. 3118 
 
 Investor Relations Inquiries          Media Inquiries 
 
 Investor Relations Group,             Public Relations Division 
  Corporate Finance Division 
 Mitsubishi Electric Corporation       Mitsubishi Electric 
                                        Corporation 
 Cad.Irg@rk.MitsubishiElectric.co.jp   prd.gnews@nk.MitsubishiElectric.co.jp 
                                       www.MitsubishiElectric.com/news 
 
 

Mitsubishi Electric to Record Gain from Sales of Investment Securities

TOKYO, June 28, 2017 - Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it will record a gain of approximately 19 billion yen from sales of 28,796,000 shares in Renesas Electronics Corporation (TOKYO: 6723), with the total amount of shares fixed as of June 27. The company participated in the secondary offering of common stock by Renesas Electronics.

As a result of the sales, Mitsubishi Electric's holdings in Renesas Electronics have decreased to 4.54 percent, or 75,706,885 shares, down from 6.27 percent, or 104,502,885 shares. Total revenue from the sales amounted to 23.2 billion yen.

The sale will net Mitsubishi Electric a gain of approximately 19 billion yen as other income in its consolidated financial results for the first quarter of the current fiscal year ending March 2018 (fiscal 2018). Mitsubishi Electric's current consolidated forecast for fiscal 2018 announced on April 28 already includes approximately 10 billion yen as other income for this particular transaction. The company will promptly announce any necessary revisions should it foresee significant changes in this situation 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 4,238.6 billion yen (US$ 37.8 billion*) in the fiscal year ended March 31, 2017. For more information visit:

www.MitsubishiElectric.com

*At an exchange rate of 112 yen to the US dollar, the rate given by the Tokyo Foreign Exchange Market on March 31, 2017

This information is provided by RNS

The company news service from the London Stock Exchange

END

STROKFDDBBKKFAB

(END) Dow Jones Newswires

June 28, 2017 02:00 ET (06:00 GMT)

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