MITSUBISHI ELECTRIC CORPORATIONPUBLIC RELATIONS DIVISION

7-3, Marunouchi 2-chome, Chiyoda-ku, Tokyo, 100-8310 JapanFOR IMMEDIATE RELEASE

No. 3646
Media Inquiries
Public Relations Division
Mitsubishi Electric Corporation
prd.gnews@nk.MitsubishiElectric.co.jp
www.MitsubishiElectric.com/news/(Update on Disclosed Matter)
Mitsubishi Electric’s Execution of the Company-split Agreement to Transfer
Automotive-equipment Business to Newly Incorporated Subsidiary as Partof Restructuring
Additional details about company split announced
TOKYO, November 15, 2023 – Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it has
executed a Company-split agreement and formally established a wholly owned subsidiary, Melco Automotive
Equipment Business Split Preparation Corporation, in line with the previous announcement “(Update on
Disclosed Matter) Mitsubishi Electric to Transfer Automotive-equipment Business to New Subsidiary as Partof Restructuring” issued on October 31.
Item numbers below are consistent with the previous announcement on October 31, 2023, and newly
announced information is underlined.
2. Overview of Company Split(1) Company Split Schedule
Decision on Absorption-type Company Split by Executive Officer (Note)
Establishment of Melco Automotive Equipment Business Split Preparation
Corporation
Execution of Company Split Agreement
Scheduled Company Split Date (Effective Date)

October 31, 2023
November 1, 2023
November 15, 2023
April 1, 2024 (Scheduled)

Note: The Company Split is a simplified absorption-type company split, pursuant to Article 784, Paragraph 2 of the Companies
Act of Japan, and Mitsubishi Electric therefore does not require approval of this at a shareholders’ meeting. Accordingly,
the Company Split will be implemented on the decision of the President and CEO, with due consideration of deliberations
at the Executive Officers’ Meeting.

3. Profile of the Parties of the Company Split(1) Name(2) Head Office(3) Representative

Transferring Company(As of March 31, 2023)
Mitsubishi Electric Corporation
7-3, Marunouchi 2-Chome,Chiyoda-ku, Tokyo
Kei Uruma
Representative Executive Officer,
President & CEO
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Succeeding Company
Melco Automotive Equipment BusinessSplit Preparation Corporation
7-3, Marunouchi 2-Chome, Chiyoda-ku,TokyoAtsuhiro Yabu
President and Representative Director

(4) Summary ofBusiness

Development, manufacture, sales,and service of products such as
infrastructure, industry mobility,life, and business platform(5) Paid-in Capital(6) Established(7) Shares Issued(8) Book Closing Date
(9) Major
Shareholders andShareholding Ratio- Manufacturing, sales, maintenance andrepair of various electrical equipment,
automotive-equipment, ship machinery andequipment, transport machinery andequipment, industrial machinery andequipment, and system related to machine
tool and equipment- Manufacturing, sales, maintenance, andrepair of equipment, systems, and services
related to information processing,information communication, andinformation provision- Manufacturing, maintenance, repair andsales of other machinery and equipment andelectrical and electronic components- Production, sales and engineering ofsoftware related to items mentioned above
10 million yen
November 1, 2023
1,000 shares
March 31
Mitsubishi Electric Corporation 100%

175,820 million yen
January 15, 1921
2,147,201,551 shares
March 31
- The Master Trust Bank of Japan,
Ltd. (Trust Account) 15.7%- SSBTC CLIENT OMNIBUS
ACCOUNT
5.6%(10) Operating Results for the Most Recent Business Year and Financial Positions as of the End of theBusiness Year (FY ended March 2023 – Millions of yen, unless otherwise specified)
Transferring Company (Consolidated・IFRS)
Total Equity
3,363,224
Total Assets
5,582,519
Equity Attributable to Mitsubishi Electric Corporation Stockholders per Share (yen)1,533.98
Revenue
5,003,694
Operating Profit
262,352
Profit before Income Taxes
292,179
Net Profit Attributable to Mitsubishi Electric Corp. Stockholders
213,908
Basic Earnings per Share Attribute to Mitsubishi Electric Corp. Stockholders (yen)101.30Note: Information of the Succeeding Company for (10) is omitted since the Succeeding Company has been established inNovember 2023 and there is no financial position or operating results for the most recent fiscal year.

###About Mitsubishi Electric Corporation
With more than 100 years of experience in providing reliable, high-quality products, Mitsubishi ElectricCorporation (TOKYO: 6503) is a recognized world leader in the manufacture, marketing and sales of electricaland 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 5,003.6 billion yen (U.S.$ 37.3 billion*) in the fiscal year ended March 31, 2023. For
more information, please visit www.MitsubishiElectric.com*U.S. dollar amounts are translated from yen at the rate of ¥134=U.S.$1, the approximate rate on the Tokyo
Foreign Exchange Market on March 31, 2023
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