News Release Archives
Note that the releases are accurate at the time of publication but may be subject to change without notice.
FOR IMMEDIATE RELEASE No.2649
Mitsubishi Electric Comments on Suspension from Ministry of Defense Bidding
PDF Version(83KB)
Tokyo, January 27, 2012 - Mitsubishi Electric (TOKYO: 6503) received notice today from Japan's Ministry of Defense (MOD) that following revelations that the company overcharged the MOD for expenses, it has been suspended from participating in further bidding effective immediately until the full details of the case are revealed, payments for excessive charges and other expenses are returned to the central government treasury and remedial measures are put in place by the company and reported to MOD.
Mitsubishi Electric will fully cooperate with the MOD's investigation of the matter.
Details regarding the total amount of overcharge, the timing of reimbursing the treasury and the impact on the company's financial performance are currently unclear. Mitsubishi Electric will disclose the impact this matter has on the company as soon as the situation is better understood.
Mitsubishi Electric will fully cooperate with the MOD's investigation of the matter.
Details regarding the total amount of overcharge, the timing of reimbursing the treasury and the impact on the company's financial performance are currently unclear. Mitsubishi Electric will disclose the impact this matter has on the company as soon as the situation is better understood.
Inquiry
Investor Relations Inquiries
Corporate Finance Division
Mitsubishi Electric Corporation