MITSUBISHI ELECTRIC CORPORATIONPUBLIC RELATIONS DIVISION

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

No. 3674

Investor Relations Inquiries

Media Inquiries

Corporate IR&SR Division
Mitsubishi Electric Corporation

Public Relations Division
Mitsubishi Electric Corporation

Cad.Irg@rk.MitsubishiElectric.co.jp

prd.gnews@nk.MitsubishiElectric.co.jp
www.MitsubishiElectric.com/news/

Expected Recognition of Extraordinary Gains on a Sale of Individual
Securities
TOKYO, February 28, 2024 – Mitsubishi Electric Corporation (TOKYO: 6503) announced today that thecompany has decided to sell its investment securities (the “Sale”) as follows. Mitsubishi Electric expects torecognize a gain on sales of investment securities (extraordinary gain) on an unconsolidated basis resulting
from the Sale.
1. Reason for the SaleTo reduce cross-shareholdings and improve capital efficiency.
2. Details of the Sale
1)

Investment securities to be soldOne listed security held by Mitsubishi Electric(Renesas Electronics Corporation)2)

Scheduled date of saleFebruary 29, 2024 (Commitment date)

3. Future Outlook
Mitsubishi Electric expects to recognize a gain of the sales of the investment securities as extraordinary gain
on an unconsolidated basis for the fiscal year ending March 31, 2024. Details of such gain will be disclosed
as soon as the amount is determined.
Since Mitsubishi Electric has adopted International Financial Reporting Standards (IFRS) in its consolidated
financial statements and classifies the investment securities as financial assets measured at fair value throughother comprehensive income, the gain on the sales of the investment securities will not be recognized in its
consolidated statements of profit or loss, hence there will be no impact on the forecasted consolidated financial
results for the fiscal year ending March 31, 2024.

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###About Mitsubishi Electric Corporation
With more than 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 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

This press release is a general release in connection with the sale of the company’s investment securities, and is not prepared
for the purpose of investment solicitation or the like in Japan or elsewhere.
This press release does not constitute an offer to sell or solicitation of any offer to buy securities in the United States or any
other jurisdiction in which such an offer, solicitation or sale would be unlawful. The shares of common stock of Renesas
Electronics Corporation have not been, and will not be, registered under the United States Securities Act of 1933, as amended(the “Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption
from registration under the Securities Act.

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