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Mitsubishi Electric to Cooperate Fully with Investigation Concerning Overcharged Expenses to Japan's Ministry of Defense, Cabinet Satellite Intelligence Center and Japan Aerospace Exploration Agency

Dépèche transmise le 31 janvier 2012 par Business Wire

Mitsubishi Electric to Cooperate Fully with Investigation Concerning Overcharged Expenses to Japan's Ministry of Defense, Cabinet Satellite Intelligence Center and Japan Aerospace Exploration Agency

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO:6503) announced that starting today, the company is undergoing investigations by Japan's Ministry of Defense (MOD), Cabinet Satellite Intelligence Center (CSICE) and Japan Aerospace Exploration Agency (JAXA) following revelations that the company overcharged the three parties for expenses. Mitsubishi Electric is fully cooperating with the investigations.

The impact of this matter on Mitsubishi Electric's business performance is currently uncertain, but the company intends to disclose the impact as soon as the situation is better understood.

Meanwhile, the company's consolidated financial results for the first 9 months and third quarter ending December 31, 2011, of the current fiscal year ending March 31, 2012 (fiscal 2012) will be announced on February 2, 2012 as originally scheduled.

About Mitsubishi Electric
With 90 years of experience in providing reliable, high-quality products to both corporate clients and general consumers all over the world, 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. The company recorded consolidated group sales of 3,645.3 billion yen (US$ 43.9 billion*) in the fiscal year ended March 31, 2011. For more information visit http://www.MitsubishiElectric.com
*At an exchange rate of 83 yen to the US dollar, the rate given by the Tokyo Foreign Exchange Market on March 31, 2011