MITSUBISHI ELEC UNSP/ADR - MIELY STOCK NEWS

Mitsubishi Electric Corporation has announced its agreement to wholly acquire Motum AB, a Sweden-based elevator and automatic door company, effective March 23. This strategic acquisition aims to enhance Mitsubishi Electric's service and modernization capabilities in elevators and escalators across Sweden and Europe. Motum, the largest independent elevator firm in the Nordic region, services over 20,000 units and has a strong position in modernization. As elevators and escalators are core to Mitsubishi Electric's growth strategy, this acquisition supports business expansion in response to rising maintenance demands.

Mitsubishi Electric Power Products, Inc. has successfully completed the acquisition of Computer Protection Technology (CPT), a leading service provider in the critical power sector based in Southern California. The financial terms remain undisclosed. This acquisition aims to enhance MEPPI's service capabilities amidst growing demand in critical power solutions due to increased digital initiatives. CPT will continue its operations as a service branch of MEPPI, leveraging synergies to create significant value for both companies' customers.

Mitsubishi Electric has appointed John Campion as the new General Manager of its Critical Power Solutions Division (CPSD), effective April 1, 2022. This division was previously known as the Uninterruptible Power Supplies Division. Campion, who joined MEPPI in July 2021, has an extensive background in consulting and naval service. The CPSD aims to expand its market share in the North American hyperscale and data center sectors, emphasizing customer-centric solutions and introducing IT Cooling products to meet evolving market demands.

Mitsubishi Electric Corporation (Tokyo:6503) announced the candidates for Directors during its Nomination Committee meeting on March 31, 2022. This follows the recent discovery of improper quality control practices, prompting a company-wide investigation by an external Investigative Committee. All current Director and Executive Officer candidates are tentative, pending the outcomes of the ongoing investigations and assessments on internal control and governance systems. The company plans to review and finalize Director candidates based on the investigation's findings.

Mitsubishi Electric Corporation will open the "Collaborative Engineering Center" in China on April 1. This facility aims to enhance factory automation application development tailored to the local market. The center will address the rising demand in various industries, including automotive and logistics, by providing customized automation solutions. This initiative is expected to bolster Mitsubishi Electric's factory automation business in China and improve customer satisfaction through rapid and flexible responses to diverse needs.

Mitsubishi Electric Corporation (TOKYO:6503) has introduced an advanced AI technology that enhances the identification and tracking of individuals using multiple surveillance cameras. This technology reduces reidentification time to one-tenth of existing methods through proprietary compression technology that filters out extraneous data. The new AI will be incorporated into Mitsubishi Electric's Maisart® product line and aims to improve security systems for tracking suspicious persons and lost children, as well as for analyzing customer flow.

Mitsubishi Electric Corporation is set to launch the MELSOFT Gemini 3D simulator on April 28, aimed at enhancing the design and construction of production facilities. This innovative tool will utilize digital space to visualize and simulate manufacturing processes, addressing challenges posed by pandemic-related restrictions on human mobility. The simulation software is expected to streamline workflows from facility design to maintenance, meeting the growing demand for digital transformation in manufacturing.

Mitsubishi Electric Corporation has announced plans to establish a new production site in Owariasahi City, Japan, acquiring 42,000 square meters of land. The facility will focus on manufacturing factory automation control systems starting from April 2025. The company is investing approximately 13 billion yen (around 110 million USD) to meet growing demand in sectors like semiconductors and lithium-ion batteries. Advanced technologies, including 5G communication, will be integrated for efficient production and data management.

Mitsubishi Electric Corporation (Tokyo: 6503) announced a forecast for a year-end dividend of 26 yen per share for the fiscal year ending March 31, 2022. This is an increase from the interim dividend of 14 yen and suggests a total annual dividend of 40 yen. The dividend decision will be finalized at the Board of Directors meeting in May 2022. The company emphasizes that actual results may differ from forecasts due to various economic factors.