Mitsubishi Electric to Repurchase Company Shares
Mitsubishi Electric Corporation (TOKYO: 6503) announced today that the company’s Board of Directors resolved on April 28, 2025 to repurchase shares of the company’s stock, as shown below, pursuant to the provisions of Article 459, paragraph 1 of the Companies Act, as well as Article 31 of the company’s articles of incorporations.
|
1. |
Reason for the Repurchase of Company Shares |
||
|
|
Based on the financial policies of Mitsubishi Electric, the company will repurchase its own stock to enhance shareholder returns and strengthen capital efficiency. |
||
|
2. |
Details of the Repurchase |
||
|
|
(1) Type of shares: |
Common stock |
|
|
|
(2) Number of shares: |
60,000,000 shares (maximum unit) |
|
|
|
|
2.89% of issued and outstanding shares (excluding treasury stock) |
|
|
|
(3) Aggregate value: |
JPY 100 billion (maximum limit) |
|
|
|
(4) Period: |
April 30, 2025-October 31, 2025 |
|
|
|
(5) 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. |
||
|
|
|
||
|
|
(For reference) Status of treasury stock as of March 31, 2025 |
||
|
|
Total number of shares issued and outstanding (excluding treasury stock) |
2,075,384,328 shares |
|
|
|
Number of treasury stock |
37,817,223 shares |
|
|
|
Note: The number of treasury stock includes 1,915,095 shares held through the Board Incentive Plan (BIP) Trust. |
||
###
About Mitsubishi Electric Corporation
With more than 100 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. Mitsubishi Electric enriches society with technology in the spirit of its “Changes for the Better.” The company recorded a revenue of 5,521.7 billion yen (U.S.$ 36.8 billion*) in the fiscal year ended March 31, 2025. For more information, please visit www.MitsubishiElectric.com
*U.S. dollar amounts are translated from yen at the rate of ¥150=U.S.$1, the approximate rate on the Tokyo Foreign Exchange Market on March 31, 2025
View source version on businesswire.com: https://www.businesswire.com/news/home/20250427851151/en/
Distribution channels:
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Submit your press release