Mitsubishi Electric Corp

Earnings data Q3 2021

Earnings data Q4 2021

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Mitsubishi Electric Corp. engages in the manufacture, development, and sale of electric and electronic equipment. It operates in the following business segments: Energy and Electric Systems, Industrial Automation Systems, Information and Communication Systems, Electronic Devices, Home Appliances, and Others. The Energy and Electric Systems segment offers power and transportation systems, elevators, escalators, and supervisory control systems. The Industrial Automation Systems segment covers industrial automation products and systems, measurement and control systems, automotive and electronic products, and car multimedia systems. The Information and Communication Systems segment includes wireless, closed circuit television, space, and satellite communication systems, antennas, radar devices, and information communications network systems. The Electronic Devices segment provides power, high frequency, and optical devices; and liquid crystal displays. The Home Appliances segment covers air-conditioning and photovoltaic power generation systems, televisions, recorders, and players. The Others segment comprises of material procurement, logistics, real estate, advertising, and financial services. The company was founded on January 15, 1921 and is headquartered in Tokyo, Japan.

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it will enter into a strategic partnership with Nexperia B.V. to jointly develop silicon carbide (SiC) power semiconductors for the power electronics market. Mitsubishi Electric will leverage its wide-bandgap semiconductor technologies to develop and supply SiC MOSFET chips that Nexperia will use to develop SiC discrete devices. The electric vehicle market is expanding worldwide and is helping to drive th.

Mitsubishi Electric and Nexperia to Partner in Joint SiC Power Semiconductors Development

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO:6503) announced today that it will issue green bonds for the first time to raise funds for the construction of a silicon carbide (SiC) power semiconductor plant and the enhancement of related production facilities that handle products capable of contributing to decarbonization. Green bonds are any type of debt instrument issued by a corporation or municipality for the exclusive purpose of financing or refinancing green projects dome.

Mitsubishi Electric to Issue Green Bonds for First Time

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO:6503) announced today that it will partner with Visual Components headquartered in Espoo, Finland in a joint venture company, named ME Industrial Simulation Software Corporation, to develop and sell 3D simulators for manufacturing applications. Mitsubishi Electric and Visual Components will hold 70% and 30% stakes respectively in the company, which will begin operating on November 1. Through the new company, Mitsubishi Electric plan.

Mitsubishi Electric and Visual Components Form JV for 3D Simulators

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO:6503) announced today that it has developed an aluminum vertical flat tube (VFT) design that improves heat exchanger performance by up to an unprecedented about 40% in heat-pump air conditioners used for heating and cooling. The new VFT heat exchanger combines small-diameter flat tubes, arranged vertically and very compactly, and a high-performance refrigerant distributor with a double-tube structure that evenly distributes refriger.

Mitsubishi Electric's Aluminum Vertical Flat Tube Design Improves Heat Exchanger Performance by an Unprecedented 40%

SUWANEE, Ga.--(BUSINESS WIRE)--Mitsubishi Electric Trane HVAC US LLC (METUS) introduces the Simple Ductless Wired (SDW) remote controller.

Mitsubishi Electric Trane HVAC US Introduces the Simple Ductless Wired Controller

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it will transfer its automotive-equipment business and assets to a future wholly owned subsidiary Melco Automotive Equipment Business Split Preparation Corporation (the “Prep Company”), through an absorption-type company split effective April 1, 2024 (scheduled) (the “Company Split”), following the announcement “Mitsubishi Electric to Restructure its Automotive-equipment Business” issued on April 24 of th.

Update on Disclosed Matter: Mitsubishi Electric to Transfer Automotive-equipment Business to New Subsidiary as Part of Restructuring

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO: 6503) announced today its consolidated financial results for the first half and second quarter, ended September 30, 2023, of the current fiscal year ending March 31, 2024 (fiscal 2024). The full document on Mitsubishi Electric's financial results can be viewed at the following link: www.MitsubishiElectric.com/news Consolidated Half-year Results (April 1, 2023 – September 30, 2023) Revenue: 2,538.4 billion yen (9% increase year-on-y.

Mitsubishi Electric Announces Consolidated Financial Results for the First Half and Second Quarter of Fiscal 2024

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it has joined the 24/7 Carbon Free Energy Compact (24/7 CFE Compact), an international initiative established by the United Nations in 2021 with the goal of decarbonizing electricity worldwide. More than 130 organizations from around the world have joined the Compact, including the U.S. government, major U.S. IT companies, utilities and investment companies, and financial institutions. The phrase “24/7 CF.

Mitsubishi Electric Joins UN's 24/7 Carbon Free Energy Compact

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it played the key role in leading the project to draft the 2023 International Electrotechnical Commission (IEC) White Paper entitled "Power Semiconductors for an Energy-Wise society,” which the IEC released on October 17. This is the first time for a White Paper, published annually since 2010, to issue recommendations for developing and expanding international standards and certification systems for power.

Mitsubishi Electric Plays Lead Role in Drafting 2023 IEC White Paper

SUWANEE, Ga.--(BUSINESS WIRE)--Mitsubishi Electric Trane HVAC US LLC announces commitment to helping California achieve climate goal of installing 6M heat pumps by 2030.

Mitsubishi Electric Trane HVAC US Supports California's Climate Goal to Install Six Million Heat Pumps in the State's Buildings by 2030

Coherent Corp

Coherent Corp shares jumped on Tuesday following the announcement of a substantial $1 billion investment into its silicon carbide business from two Japanese manufacturers. Denso Corporation and Mitsubishi Electric Corp will each contribute $500 million, the company said in a press release.

Coherent shares surge on $1B investment from Denso and Mitsubishi Electric

Coherent , a major U.S. supplier of materials used to make chips for the automotive industry, said on Tuesday Japan's Denso and Mitsubishi Electric will invest $1 billion in the company's silicon carbide business.

Japan's Denso, Mitsubishi Electric to invest $1 bln in Coherent's silicon carbide unit

CYPRESS, Calif.--(BUSINESS WIRE)--Mitsubishi Electric US, Inc. has announced a partnership with Sustainable Skylines, a Miami-based drone advertising and data analytics company.

Sustainable Skylines Partners with Mitsubishi Electric US, Inc. to Manage Drone Advertising Operations

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it has agreed with Coherent Corp. (NYSE: COHR) to invest USD 500 million (approx. 75 billion yen ) in a new silicon carbide (SiC) business to be carved out from Coherent, aiming to expand its SiC power device business by strengthening vertical collaboration with Coherent, who has been a supplier of SiC substrates to Mitsubishi Electric. The electric vehicle market is expanding worldwide and is one of seve.

Mitsubishi Electric to Invest in Coherent's New SiC Business

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO: 6503) has been awarded a contract by J-Power Transmission Network Co., Ltd. to supply a 300MW Voltage Source Converter (VSC) High Voltage Direct Current (HVDC) Transmission for the Shin-Sakuma Frequency Converter Station in Hamamatsu, Shizuoka prefecture. The system is expected to be in service by the end of March 2028. In the wake of the 2011 Great East Japan Earthquake, the Organization for Cross-regional Coordination of Transmis.

Mitsubishi Electric Receives Order for Frequency Converter Station that Stabilizes Power Grid across Different Frequencies

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO:6503) announced today its dividend forecast for the first half (ending September 30, 2023) of the current fiscal year ending March 31, 2024 (fiscal 2024). The full document on Mitsubishi Electric's dividend policy can be viewed at the following link: www.MitsubishiElectric.com/news The company plans to pay an interim dividend of 20 yen per share, as of the record date of September 30, 2023, with due consideration on performance and.

Mitsubishi Electric Announces Dividend Policy for the First Half of Fiscal 2024

Mitsubishi Electric Corporation suffered from an EBITDA miss in Q1 FY 2024, and the company's consensus full-year FY 2024 EBITDA forecast was cut in recent months. The company is allocating as much as JPY2.8 trillion to investments in high-growth areas in the next few years, and this should help to push up its future ROE. I award a Hold investment rating to Mitsubishi Electric, as I have a mixed view of the stock considering both its short-term outlook and medium-term prospects.

Mitsubishi Electric: A Mixed Picture

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it will begin shipping samples of a new Gallium Nitride (GaN) power amplifier module for use in 5G massive MIMO (mMIMO) base stations on September 21. Power amplifier modules help reduce the power consumption of 5G mMIMO base stations. Providing high-speed, large-capacity communications, 5G mobile networks are becoming increasingly popular across the world, with their 5G mMIMO base stations installed pred.

Mitsubishi Electric to Ship Samples of GaN Power Amplifier Module for 5G Massive MIMO Base Stations

SUWANEE, Ga.--(BUSINESS WIRE)--METUS will introduce a new integration for its all-climate heat pumps with SPAN, maker of the leading smart electrical panel.

Mitsubishi Electric Trane HVAC US Collaborates with SPAN to Accelerate Home Electrification

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO: 6503), Okayama University and Osaka University's Graduate School of Engineering announced today that they have developed a magnetic particle imaging device capable of sensitive imaging of magnetic particles in an area equivalent in size to that of the human brain, in a project supported by the Japan Agency for Medical Research and Development (AMED). The device operates at low frequencies of 1 kHz or less, a world-first, allowing t.

Mitsubishi Electric, Okayama University, and Osaka University Develop Magnetic Particle Imaging Device Capable of Producing Images of Human Brain

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (Headquarters: Chiyoda-ku, Tokyo, President and CEO: Kei Uruma, “Mitsubishi Electric”) and EVERCOMM SINGAPORE PTE. LTD. (Headquarters: Singapore, CEO: Chen Chiu-Hao, “Evercomm”) jointly announced today that they have entered into a cooperative agreement to develop and market solutions that support carbon neutrality in the manufacturing sector. As part of the agreement, Mitsubishi Electric will take an equity stake in Evercomm to solidify t.

Mitsubishi Electric and Evercomm Enter into Cooperative Agreement

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO:6503) announced today that the company has completed installation of its first 12-inch silicon wafer processing line at its Power Device Work's Fukuyama Factory, which manufactures power semiconductors. In addition, through sample production and testing, it has been verified that the power semiconductor chips processed on this production line achieve the required performance levels. As previously announced, Mitsubishi Electric is pl.

Mitsubishi Electric Completes Installation of 12-inch Wafer Processing Line at its Fukuyama Factory Power Device Works

Toyota Motor

The Matthews Japan Fund (Trades, Portfolio) released its equity portfolio for the second quarter last week.

Top 3 Buys of the Matthews Japan Fund

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO: 6503) announced today its consolidated financial results for the first quarter, ended June 30, 2023, of the current fiscal year ending March 31, 2024 (fiscal 2024). The full document on Mitsubishi Electric's financial results can be viewed at the following link: www.MitsubishiElectric.com/news Consolidated Financial Results Revenue:   1,220.3   billion yen   (14% increase year-on-year) Operating profit:   61.0   billion yen   (80%.

Mitsubishi Electric Announces Consolidated Financial Results for the First Quarter of Fiscal 2024

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it has taken an equity position in Novel Crystal Technology, Inc., a Japanese company that develops and sells gallium-oxide wafers, a promising candidate for use in superior energy-saving power semiconductors that Mitsubishi Electric intends to develop at an accelerated pace in support of global decarbonization. Novel Crystal Technology, one of the world's first companies to develop, manufacture and sell.

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