Mitsubishi Electric : to Record Gain from Sales of Investment Securities
June 27, 2017 at 10:09 pm EDT
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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.
Mitsubishi Electric Corporation published this content on 28 June 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 28 June 2017 02:09:07 UTC.
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Mitsubishi Electric Corporation is one of the world's leading manufacturers of electric and electronic equipment. Net sales (including intragroup) break down by family of products and by services as follows:
- industrial automation equipment (28.6%): programmable controllers, motor operators, counters, industrial robots, clutches, etc.;
- electric equipment (24.2%): generators, motors, transformers, power circuit breakers, testing systems, etc.;
- household appliances (22.4%): televisions, video recorders, air conditioners, refrigerators, lamps, vacuum cleaners, etc.;
- information and communication equipment (6.9%): mobile phones, satellites, aerials, medical and audiovisual equipment, servers, computers, etc.;
- electronic components and devices (4.7%): memory, logic integrated circuits, monitors, plasma screens, printed circuit cards, etc.;
- other (13.2%): financial services, real estate management, engineering and maintenance services, etc.
Net sales break down geographically as follows: Japan (52.1%), Asia (24.9%), Europe (11.1%), North America (10.3%) and other (1.6%).
MITSUBISHI ELECTRIC CORPORATION 
