|By Business Wire||
|March 17, 2014 02:00 AM EDT||
Mitsubishi Electric Corporation (TOKYO:6503) announced today its dividend forecast for the current fiscal year ending March 31, 2014 (fiscal 2014).
The company plans to pay a year-end dividend of 11 yen per share, as of the record date of March 31, 2014, with due consideration on performance and financial standing in the fiscal 2014. The actual dividend will be declared at the Board of Directors’ meeting when financial results for fiscal 2014 are to be approved.
|Dividend per share||Interim dividend||Year-end dividend||Annual dividend|
(previous announcement as of Feb. 3, 2014)
|6 yen (actual)||To be determined||To be determined|
|Fiscal 2014 (present announcement)||6 yen (actual)||11 yen||17 yen|
|Fiscal 2013 (actual)||5 yen||6 yen||11 yen|
|Note: The forecast above is based on assumptions deemed reasonable by the company at the present time, and actual results may differ significantly from forecasts.|
The Mitsubishi Electric Group is involved in the development, manufacture and sales in a wide range of fields including Energy and Electric Systems, Industrial Automation Systems, Information and Communication Systems, Electronic Devices and Home Appliances, and these operations stretch out globally, not only inside Japan, but also in North America, Europe, Asia and other regions. While the statements herein are based on certain assumptions and premises that the Company trusts and considers to be reasonable under the circumstances to the date of announcement, actual operating results are subject to change due to any of the factors as contemplated hereunder and/or any additional factor unforeseeable as of the date of this announcement. Such factors materially affecting the expectations expressed herein shall include but are not limited to the following:
|The Mitsubishi Electric Group’s operations may be affected by trends in the global economy, social conditions, laws, tax codes, and regulations.|
|(2)||Foreign currency exchange rates|
|Fluctuations in foreign currency markets may affect Mitsubishi Electric’s sales of exported products and purchases of imported materials that are denominated in U.S. dollars or euros, as well as its Asian production bases’ sales of exported products and purchases of imported materials that are denominated in foreign currencies.|
|A fall in stock market prices may cause Mitsubishi Electric to record devaluation losses on marketable securities, or cause an increase in retirement benefit obligations in accordance with a decline in the fair value of pension assets.|
|(4)||Supply/demand balance for products and procurement conditions for materials and components|
|A decline in prices and shipments due to changes in the supply/demand balance, as well as an increase in material prices due to a worsening of material and component procurement conditions may adversely affect the Mitsubishi Electric Group’s performance.|
|An increase in interest rates, the yen interest rate in particular, would increase Mitsubishi Electric’s interest expenses.|
|(6)||Significant patent matters|
|Important patent filings, licensing, copyrights and patent-related disputes may adversely affect related businesses.|
|(7)||Environmental legislation or relevant issues|
|We may incur losses or expenses owing to changes in environmental legislation or the occurrence of environmental issues. Such changes in legislation or the occurrence of environmental issues may also impact manufacturing and all corporate activities of the Mitsubishi Electric Group.|
|(8)||Flaws or defects in products or services|
|We may incur losses or expenses resulting out of flaws or defects in products or services, and the lowered reputation of the quality of all our products and services may affect the entire Mitsubishi Electric group.|
|(9)||Litigation and other legal proceedings|
|The Mitsubishi Electric Group’s operations may be affected by lawsuits or other legal proceedings against Mitsubishi Electric, its subsidiaries and/or equity-method affiliated companies.|
|Disruptive changes in technology, development of products using new technology, timing of production, and market introduction may adversely affect the Mitsubishi Electric Group’s performance.|
|The Mitsubishi Electric Group may record losses due to restructuring measures.|
|The Mitsubishi Electric Group’s operations, particularly manufacturing activities, may be affected by the occurrence of earthquakes, typhoons, tsunami, fires and other large-scale disasters.|
|(13)||Other significant factors|
|The Mitsubishi Electric Group’s operations may be affected by the outbreak of social or political upheaval due to terrorism, war, pandemic by new strains of influenza and other diseases, or other factors.|
About Mitsubishi Electric Corporation
With over 90 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 and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. Embracing the spirit of its corporate statement, Changes for the Better, and its environmental statement, Eco Changes, Mitsubishi Electric endeavors to be a global, leading green company, enriching society with technology. The company recorded consolidated group sales of 3,567.1 billion yen (US$ 37.9 billion*) in the fiscal year ended March 31, 2013. For more information visit http://www.MitsubishiElectric.com
*At an exchange rate of 94 yen to the US dollar, the rate given by the Tokyo Foreign Exchange Market on March 31, 2013
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