Mitsubishi Electric Corporation Statement re (Sales of Investment Securities) (3621J)
June 28 2017 - 2:00AM
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
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