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Mitsubishi Electric to Apply for Listing on Tokyo Stock Exchange’s New Prime Market
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
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Rhea-AI Summary
Mitsubishi Electric Corporation (TSE: 6503) has announced its decision to apply for listing on the new Prime Market of the Tokyo Stock Exchange, following board approval. The TSE notified the company on July 9 that it meets the requirements for this listing, which is part of the TSE's transition to new market segments set to take effect next April. Mitsubishi Electric has a long-standing reputation, boasting 100 years of experience and reported a revenue of 4,191.4 billion yen (approximately $37.8 billion) in the fiscal year ended March 31, 2021.
Positive
Company meets the listing requirements for the Prime Market according to TSE.
Transitioning to a more prestigious market segment can enhance investor confidence and visibility.
Negative
None.
TOKYO--(BUSINESS WIRE)--
Mitsubishi Electric Corporation (TOKYO:6503) announced that following approval by its board of directors today, the company has formally decided to apply for listing on the new Prime Market of the Tokyo Stock Exchange (TSE). The TSE is transitioning to three new market segments, scheduled for implementation next April.
Mitsubishi Electric was notified by the TSE on July 9 that the company fulfills the requirements for listing on the Prime Market.
Going forward, Mitsubishi Electric will proceed with carrying out the application procedures set by the TSE.
About Mitsubishi Electric Corporation
With 100 years of experience in providing reliable, high-quality products, Mitsubishi Electric Corporation (TOKYO: 6503) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. Mitsubishi Electric enriches society with technology in the spirit of its “Changes for the Better.” The company recorded a revenue of 4,191.4 billion yen (U.S.$ 37.8 billion*) in the fiscal year ended March 31, 2021. For more information, please visit www.MitsubishiElectric.com
*U.S. dollar amounts are translated from yen at the rate of ¥111=U.S.$1, the approximate rate on the Tokyo Foreign Exchange Market on March 31, 2021
