Mitsubishi Elec Corp Stock Price, News & Analysis

Mitsubishi Electric Corporation (MIELY) announced a revision to its executive compensation scheme effective fiscal 2023, aiming to align pay more closely with performance. The new scheme emphasizes a performance-linked structure, incorporating stock compensation and new ownership guidelines to boost corporate and shareholder value. Additionally, the evaluation of compensation will include non-financial metrics such as public trust and sustainability efforts. Governance improvements include malus and clawback provisions to enhance accountability among executives.

Green Hills Software has announced its collaboration with Mitsubishi Electric for the Inca Jay digital cockpit, utilizing the INTEGRITY RTOS to ensure a safe and secure software foundation. This cockpit integrates Advanced Driver Assistance Systems (ADAS), cabin safety, and augmented reality user experiences. It leverages Qualcomm's 3rd Generation Snapdragon Cockpit Platform, enhancing OEMs' capabilities to develop next-gen digital cockpits while reducing complexity and development costs. The cockpit features include a Driver Monitoring System and High-Definition Locator for improved safety and navigation.

Mitsubishi Electric Corporation has unveiled a groundbreaking prototype of the world's first optical receiver for laser communication terminals (LCTs). This innovation integrates space optical communications using laser beams with the ability to detect beam direction in the 1.5-μm band, a standard for terrestrial fiber optics. This technology aims to enhance data transmission speed and capacity, crucial for real-time damage assessments in disaster situations, overcoming limitations of traditional radio wave methods.

Mitsubishi Electric Corporation plans to invest 1.44 billion Turkish lira (approximately 113 million USD) in a new manufacturing plant in Turkey. The expansion will increase the production capacity for air-to-water heat pumps by 100,000 units to 300,000 units, and for room air conditioners by 300,000 units to 1,100,000 units. Production is set to begin in February 2024. This investment aligns with Mitsubishi's strategy to enhance its HVAC business, responding to the growing demand for eco-friendly solutions in Europe.

Mitsubishi Electric Corporation (Tokyo:6503) has announced its year-end dividend for the fiscal year ending March 31, 2022. The dividend stands at 26 yen per share, with a total payout amounting to 54,940 million yen. This matches the previous year's dividend and the forecast made in April 2022. The record date was set for March 31, 2022, with the effective payment date on June 2, 2022. For fiscal 2022, the total annual dividend amount per share will be 40 yen, up from 36 yen in the previous fiscal year.

Mitsubishi Electric Corporation has received an interim report from an external Investigative Committee regarding improper quality control practices. The Nomination Committee conducted a meeting on May 25, 2022, to finalize candidates for Directors to be proposed at the Ordinary General Meeting of Shareholders scheduled for June 29, 2022. New candidates include Tatsuro Kosaka and Hiroyuki Yanagi, adding to a list of seasoned professionals. This move follows a comprehensive investigation and reassessment of the company's leadership.

Mitsubishi Electric Corporation (TOKYO:6503) has developed an innovative 3D printing technology that utilizes photosensitive resin and solar ultraviolet light for satellite antennas fabrication in the vacuum of space. This process aims to reduce satellite weight and launch costs by allowing the creation of larger structures in orbit, overcoming the size limitations of traditional launch methods. The new resin is specially formulated for stability in vacuum, enabling thin and lightweight designs tailored for small spacecraft.

Mitsubishi Electric Corporation has announced an investment in QunaSys, Inc., a startup focused on quantum computing algorithms that require no special expertise to use. This collaboration aims to enhance quantum-chemical calculations and quantum machine learning, addressing significant challenges in the manufacturing sector. The CEO of QunaSys emphasized the increasing demand for sustainable materials, which high-precision quantum calculations could help develop more efficiently.