MITSUBISHI ELEC UNSP/ADR - MIELY STOCK NEWS

Mitsubishi Electric Corporation has officially named its new wholly-owned subsidiary as Mitsubishi Electric Building Techno-Service Co., Ltd. This new entity will integrate the company's building systems business, following a previously announced company split on October 18. Key details include a paid-in capital of 5,000 million yen and a business focus on elevators, escalators, building management systems, and air conditioning. The book closing date is set for March 31.

Mitsubishi Electric Corporation has announced the launch of its new Diamond-Trac^® 2 elevator model, designed for residences, offices, and hotels in the U.S. market. The elevator features a space-saving design that reduces the hoistway area by 5–10%, thus allowing for more flexible building layouts. Additionally, it includes a touchless hall operating panel to enhance operational efficiency. Mitsubishi Electric US, Inc. is set to begin sales on November 12, aiming to double annual sales in this category.

Mitsubishi Electric Corporation (TOKYO:6503) reported strong financial results for the first half of fiscal 2022, ending September 30, 2021. Revenue reached 2,138.3 billion yen, a 12% increase year-over-year. Operating profit surged to 137.8 billion yen (up 125%), with net profit attributable to shareholders at 104.8 billion yen (up 117%). The company anticipates exceeding its previous earnings forecast for the fiscal year, with revised revenue expectations of 4,500 billion yen, a 7% increase from the previous year.

Mitsubishi Electric Corporation has announced the launch of the NEXIEZ-MRL Version2 elevator, featuring improved efficiency and enhanced antivirus solutions aimed at ensuring passenger safety. Scheduled for release on October 29, the new elevator model is designed to meet the demands of the 'new normal' and aims for annual orders of 5,000 units in overseas markets. This upgrade positions Mitsubishi Electric to strengthen its presence in the elevator market, particularly as it responds to evolving safety standards.

Mitsubishi Electric announced the shipment of samples for its new 100Gbps EML laser diode chip, set to begin on November 1. This chip will serve as a light source in 400Gbps optical transceivers for data centers, significantly reducing power consumption and costs. The chip's unique hybrid waveguide structure allows operation at temperatures from 5 to 85°C, eliminating the need for conventional temperature-control units. This innovation is expected to enhance efficiency in optical fiber communication systems.

Mitsubishi Electric Corporation has announced the transfer of its building systems business, including elevator and escalator manufacturing and sales, to its wholly-owned subsidiary, Mitsubishi Electric Building Techno-Service Co., Ltd. This transfer, conducted through an absorption-type company split, aims to enhance growth and profitability in the building systems sector. As part of its medium-term management plan for fiscal 2026, Mitsubishi Electric seeks to consolidate management structures and strengthen global competitiveness in this key business area.

Mitsubishi Electric Corporation (Tokyo:6503) will launch two new CV Series models of 3D CO₂ laser processing systems on October 18. These systems, featuring a unique orthogonal structure CO₂ laser oscillator, will enable the efficient mass production of carbon fiber reinforced plastics (CFRP) used in the automotive sector. The new models address previous processing challenges, including high costs and low productivity, facilitating higher-quality outputs. This innovation supports the automotive industry's push for lightweight materials, reducing CO₂ emissions and environmental impact.

Mitsubishi Electric Corporation announced a transfer of Directors effective October 1, 2021. This decision follows an investigation into improper quality control practices and aims to enhance the Board's supervisory function. Mr. Masaki Sakuyama has resigned from his position, believing that selecting the Chairman from Outside Directors will strengthen management oversight. These changes reflect the company’s ongoing commitment to corporate governance reform.

Mitsubishi Electric Corporation (Tokyo: 6503) announced an interim dividend of 14 yen per share for the first half of fiscal 2022, set as of September 30, 2021. This decision reflects the company’s performance and financial standing during this period. The year-end dividend remains undecided. In fiscal 2021, the interim dividend was 10 yen, while the year-end dividend was 26 yen, resulting in an annual dividend of 36 yen. The company advises that actual results may significantly differ from forecasts due to various market and economic factors.