MITSUBISHI ELEC UNSP/ADR - MIELY STOCK NEWS

Mitsubishi Electric Corporation has unveiled a groundbreaking prototype of the world's first optical receiver for laser communication terminals (LCTs). This innovation integrates space optical communications using laser beams with the ability to detect beam direction in the 1.5-μm band, a standard for terrestrial fiber optics. This technology aims to enhance data transmission speed and capacity, crucial for real-time damage assessments in disaster situations, overcoming limitations of traditional radio wave methods.

Mitsubishi Electric Corporation plans to invest 1.44 billion Turkish lira (approximately 113 million USD) in a new manufacturing plant in Turkey. The expansion will increase the production capacity for air-to-water heat pumps by 100,000 units to 300,000 units, and for room air conditioners by 300,000 units to 1,100,000 units. Production is set to begin in February 2024. This investment aligns with Mitsubishi's strategy to enhance its HVAC business, responding to the growing demand for eco-friendly solutions in Europe.

Mitsubishi Electric Corporation (Tokyo:6503) has announced its year-end dividend for the fiscal year ending March 31, 2022. The dividend stands at 26 yen per share, with a total payout amounting to 54,940 million yen. This matches the previous year's dividend and the forecast made in April 2022. The record date was set for March 31, 2022, with the effective payment date on June 2, 2022. For fiscal 2022, the total annual dividend amount per share will be 40 yen, up from 36 yen in the previous fiscal year.

Mitsubishi Electric Corporation has received an interim report from an external Investigative Committee regarding improper quality control practices. The Nomination Committee conducted a meeting on May 25, 2022, to finalize candidates for Directors to be proposed at the Ordinary General Meeting of Shareholders scheduled for June 29, 2022. New candidates include Tatsuro Kosaka and Hiroyuki Yanagi, adding to a list of seasoned professionals. This move follows a comprehensive investigation and reassessment of the company's leadership.

Mitsubishi Electric Corporation (TOKYO:6503) has developed an innovative 3D printing technology that utilizes photosensitive resin and solar ultraviolet light for satellite antennas fabrication in the vacuum of space. This process aims to reduce satellite weight and launch costs by allowing the creation of larger structures in orbit, overcoming the size limitations of traditional launch methods. The new resin is specially formulated for stability in vacuum, enabling thin and lightweight designs tailored for small spacecraft.

Mitsubishi Electric Corporation has announced an investment in QunaSys, Inc., a startup focused on quantum computing algorithms that require no special expertise to use. This collaboration aims to enhance quantum-chemical calculations and quantum machine learning, addressing significant challenges in the manufacturing sector. The CEO of QunaSys emphasized the increasing demand for sustainable materials, which high-precision quantum calculations could help develop more efficiently.

Mitsubishi Electric Corporation (Tokyo:6503) released its consolidated financial results for fiscal 2022, reporting revenue of 4,476.7 billion yen, a 7% increase from the previous year. Operating profit rose to 252.0 billion yen, marking a 9% increase. Profit before income taxes was 279.6 billion yen, an 8% increase, while net profit attributable to shareholders reached 203.4 billion yen, up 5%. For fiscal 2023, the company projects revenue to grow by 7% to 4,770.0 billion yen, alongside expectations of increased operating profit and net profit. The outlook considers potential risks from COVID-19 variants and supply constraints.

Mitsubishi Electric Corporation (Tokyo: 6503) unveiled its new digital cockpit, Inca Jay, designed to enhance vehicle safety and user experience through advanced technologies. Powered by the 3rd Generation Snapdragon Cockpit Platform and Green Hills Software’s INTEGRITY OS, Inca Jay aims to mitigate driver errors, which account for over 94% of accidents according to NHTSA. Key features include a Driver Monitoring System and a High-Definition Locator for safer nighttime driving. Mitsubishi Electric reported revenue of 4,191.4 billion yen ($37.8 billion) for the fiscal year ending March 31, 2021.

Mitsubishi Electric Corporation has announced the upcoming shipment of samples for its new LV100-type T-series 2.0kV IGBT Module aimed at industrial applications, set to begin in May. This innovative power-semiconductor product is designed to reduce size and power consumption in power-conversion equipment, particularly for renewable-energy sources. The product will be showcased at the Power Conversion Intelligent Motion (PCIM) Europe 2022 trade show in Nuremberg, Germany, from May 10 to 12. The development aligns with the increasing demand for efficient power conversion at higher system-operating voltages.