MITSUBISHI ELECTRIC CORPORATIONPUBLIC RELATIONS DIVISION
7-3, Marunouchi 2-chome, Chiyoda-ku, Tokyo, 100-8310 JapanFOR IMMEDIATE RELEASE

No. 3444
Media Inquiries
Public Relations Division
Mitsubishi Electric Corporation
prd.gnews@nk.MitsubishiElectric.co.jp
www.MitsubishiElectric.com/news/

Mitsubishi Electric Announces Establishment of Governance Review
Committee
TOKYO, October 20, 2021 – Mitsubishi Electric Corporation (TOKYO: 6503) announced today that theBoard of Directors approved to establish a Governance Review Committee consisting of outside experts. The
details are as follows:
Background of Establishment of Governance Review Committee
As announced by the company on October 1, regarding “Update on Investigation into Improper Quality
Control Practices and Implementation of Reform Roadmap (First Report)”, , the company believes that it isnecessary to incorporate the perspective of third parties to assess whether there is room for improvement in
the company’s internal control system and governance. Therefore, the Governance Review Committee wasestablished as a Board-commissioned body, comprised of outside experts who have no existing commercial
relationships with the company.
Members of Investigative Committee
Chair: Toshiaki Yamaguchi, Managing Partner (Attorney-at-Law, Certified Fraud Examiner), Yamaguchi
Toshiaki Law OfficeMembers:

Junya Naito, Partner (Attorney-at-Law), Momo-o, Matsuo & Namba
Takashi Kiuchi, Partner (Attorney-at-Law, Certified Public Accountant), Miura & Partners

Purpose of Governance Review CommitteeAssess and identify problems relating to the company’s overall internal control system and governancewith its main focus on improper quality control practices.

Recommend reform measures.

Clarify managerial responsibility of executive officers as well as board directors.

1/3

Future Actions
The Governance Review Committee will aim to clarify managerial responsibility of executive officers andboard directors by December 2021 and the Board of Directors will consider necessary actions in a timely
manner. In addition, the Governance Review Committee will aim to provide a summary of issues identified
and recommendations for improvement by March 2022. The Board will take these recommendations on board
and work to strengthen its internal control system and governance.
###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 andelectronic 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

2/3

Attachment
Profiles of Governance Review Committee Members
Committee
Chair
Affiliation

ProfileCommittee
MemberAffiliation

ProfileCommittee
MemberAffiliation

ProfileToshiaki Yamaguchi
Managing Partner (Attorney-at-Law, Certified Fraud Examiner), Yamaguchi Toshiaki Law Office
1990
Registered as attorney, Osaka Bar Association
1995
Established Yamaguchi Toshiaki Law Office
2013-2016
Outside Director, Nissen Holdings Co., Ltd.
2013-Present
Outside Director, Daito Trust Construction Co., Ltd
2015-2018
Outside Auditor, Osaka University Venture Capital
2015-Present
Whistleblower Protection System Review Committee, Consumer Affairs
AgencyOutside Auditor, Osaka Metro Co., Ltd.
2018-Present
Advisor, Compliance Promotion Council, Ministry of Finance2018-Present
Outside member, Regeneration Project Promotion Council, Ministry of Finance2019-Present

Junya Naito
Partner (Attorney-at-Law), Momo-o, Matsuo & Namba
1991
Registered as attorney, Dai-ichi Tokyo Bar Association
1996
Registered as attorney, New York Bar, the United States
1999-Present
Partner, Momo-o, Matsuo & Namba
2017-Present
Auditor, Nomura Real Estate Private REIT, Inc.
2020-Present
Advisory Board, Mitsubishi UFJ Trust and Banking Corporation
2020-Present
Auditor, Japan Satellite Broadcasting Association
2021-Presemt Chairperson, Special Committee Regarding Issues on Civil Litigation ofDai-ichi Tokyo Bar Association
Takashi Kiuchi
Partner (Attorney-at-Law, Certified Public Accountant), Miura & Partners
KPMG AZSA & Co. (Assistant Accountant, Certified Public Accountant)
1998-2004
Registered as attorney, Dai-ichi Tokyo Bar Association
2006
Nagashima Ohno & Tsunematsu
2006-2019
Financial Services Agency (on secondment)
2011-2013
Partner, Miura & Partners
2019-Present
Reregistered as Certified Public Accountant, the Japanese Institute of2020
Certified Public Accountants Tokyo Chapter

3/3