Mitsubishi Electric Corporation Statement re Completion Date of Investigation (0331J)
22 Abril 2022 - 3:55AM
UK Regulatory
TIDMMEL
RNS Number : 0331J
Mitsubishi Electric Corporation
22 April 2022
FOR IMMEDIATE RELEASE No. 3513
Media Inquiries
Takeyoshi Komatsu
Public Relations Division
Mitsubishi Electric Corporation
Tel: +81-3-3218-2346
prd.gnews@nk.MitsubishiElectric.co.jp
www.MitsubishiElectric.com/news/
Notice Regarding Completion Date of the Investigation into
Improper Quality Control Practices
TOKYO, April, 21, 2022 - Mitsubishi Electric Corporation (TOKYO:
6503) - Mitsubishi Electric Corporation established the
Investigative Committee of external experts (Chaired by Hiroshi
Kimeda, Partner (Attorney-at-law), Nishimura & Asahi,
previously announced on July 2, 2021) to investigate the facts
surrounding the improper quality control practices, elucidate the
causes, and formulate measures for preventing any recurrence. The
investigation is currently underway at all of the company's
manufacturing sites and plants (all 22 facilities).
The company had previously announced that the Investigative
Committee aimed to complete the investigation of all 22 facilities
by April 2022. However, the company was informed today by the
Investigative Committee that the committee will require more time
to complete the investigation. The company was also informed that
the committee expects to complete about 80% or more of the
investigation as of end of April and the company will also expect
to receive an updated report in late May. The results of the
investigation on the remaining facilities will be announced as soon
as the reports by the committee are received by the company.
Mitsubishi Electric will continue to fully cooperate with the
committee's ongoing investigation and will make every effort to
uncover the full extent of the improper quality control
practices.
The Governance Review Committee will separately assess and
identify problems relating to the company's internal control system
and governance. The committee will aim to provide a summary of
issues identified and make recommendations for improvement based on
findings by the Investigative Committee.
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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 and 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 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
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END
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April 22, 2022 02:55 ET (06:55 GMT)
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