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FOR IMMEDIATE RELEASE No. 3714

From left: Yuya Shintani, Kento Okumura and Shoma Fukuhara of Mitsubishi Electri

From left: Yuya Shintani, Kento Okumura and Shoma Fukuhara of Mitsubishi Electric's DX Innovation Center

TOKYO, June 21, 2024 - Mitsubishi Electric Corporation (TOKYO: 6503) announced today that a team of three data scientists, Yuya Shintani, Kento Okumura and Shoma Fukuhara from the Mitsubishi Electric DX Innovation Center, won a gold medal in the Home Credit - Credit Risk Model Stability competition hosted by Google LLC subsidiary Kaggle INC., the world's largest AI competition platform.

In addition, Messrs. Shintani and Okumura were each awarded the title of Kaggle Competition Master for cumulatively winning one gold medal and two silver medals each in Kaggle competitions. The Master title, which is presented to people who have received a certain number of awards in the competition category, has been presented to 2,108 people worldwide, including 278 in Japan (as of June 18).

Kaggle medals recognize winners for using machine learning in a competitive format to develop effective solutions to challenges posed by companies and government agencies.

The recent competition, which ran from February 5 to May 27, posed the challenge of predicting the likelihood of loan applicants defaulting on their debts, based on which participants used analytical techniques to propose solutions. The solution devised by Messrs. Shintani, Okumura and Fukuhara, which ranked 13th out of 3,856 solutions, won a gold medal for its robust features, model construction and adaptation to evaluation metrics based on exploratory data analysis, a method of data science that uses basic aggregation and visualization to explore data characteristics and understand data structure.

Mitsubishi Electric, which is transforming itself into a "Circular Digital-Engineering Company," launched the SerendieTM digital platform on May 29 to facilitate value co-creation initiatives. The company aims to leverage its technological expertise and creativity by aggregating data on Serendie and analyzing it with award-winning data scientists, ultimately to generate new insights that lead to the creation of sustainable new value.

Nobuo Asahi, Corporate Executive, Senior General Manager of the DX Innovation Center, said: "This result is a testament to the advancement of our data-analytics technology and the growing capabilities of our employees. Going forward, we will continue to strengthen our human resources for digital transformation (DX), including data engineering, to leverage our Serendie digital platform to drive business DX and thereby meet the needs of modern global society."

"Serendie" is a pending trademark of Mitsubishi Electric Corporation.

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