Mitsubishi Electric Announces Status and Conclusion of Company Stock Repurchase

Oct 10 2024 07:45 BST

According to Articles of Incorporation Pursuant to Article 459, Paragraph 1 of Companies Act of Japan

TOKYO--(BUSINESS WIRE)--Oct. 10, 2024-- Mitsubishi Electric Corporation (TOKYO: 6503) announced today the conclusion of its repurchase of company stock pursuant to the provisions of Article 459, paragraph 1 of the Companies Act, as well as Article 31 of the company’s articles of incorporation approved by the Board of Directors on August 29, 2024, as shown below.

1.	Type of Shares Repurchased:	Common stock
2.	Number of Shares Repurchased:	3,388,200 shares
3.	Aggregate Value of Shares Repurchased:	JPY 8,110,663,450
4.	Repurchase Period:	October 1, 2024 to October 9, 2024
5.	Repurchase Method:	Market trades on Tokyo Stock Exchange

(For reference)

	1.	Details of resolution approved by the Board of Directors on August 29, 2024
			(1)	Type of Shares to Repurchase:	Common stock
			(2)	Number of Shares to Repurchase:	20,000,000 shares (maximum unit) 0.96% of issued and outstanding shares (excluding treasury stock)
			(3)	Aggregate Value of Repurchase:	JPY 30 billion (maximum limit)
			(4)	Repurchase Period:	August 30, 2024 to October 31, 2024
			(5)	Repurchase Method:	Market trades on Tokyo Stock Exchange
			Note:	Part or all of the above-mentioned repurchases might not be performed depending on market conditions and other factors.

	2.	Total number and aggregate value of shares repurchased pursuant to the abovementioned resolution of the Board of Directors (as of October 9, 2024)
			(1)	Total number of shares repurchased:	12,898,800 shares
			(2)	Aggregate value of shares repurchased:	JPY 29,999,849,500

For more information, please visit: www.MitsubishiElectric.com/news/

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Investor Relations Inquiries
Corporate IR&SR Division
Mitsubishi Electric Corporation
Cad.Irg@rk.MitsubishiElectric.co.jp

Media Inquiries
Madoka Iwanaga
Public Relations Division
Mitsubishi Electric Corporation
Tel: +81-3-3218-2332
prd.gnews@nk.MitsubishiElectric.co.jp
www.MitsubishiElectric.com/news/

Source: Mitsubishi Electric Corporation