Mitsubishi Electric Completes Refund Payments for Overcharged Expenses in Space Systems Business

  Mitsubishi Electric Completes Refund Payments for Overcharged Expenses in
  Space Systems Business

Business Wire

TOKYO -- January 18, 2013

Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it
reimbursed a total of 15,436,571,720 yen as refunds for overcharged expenses
in the space systems business of its Electronic Systems Group to the Cabinet
Satellite Intelligence Center, the Japan Aerospace Exploration Agency and the
National Institute of Information and Communications Technology.

Mitsubishi Electric's suspension from bidding on work for the three entities
will be lifted at midnight tonight.

The impact of the reimbursement on the company's business performance has
already been considered in the company's current consolidated financial
results forecast for the current fiscal year ending March 2013, which were
announced on December 21, 2012.

About Mitsubishi Electric

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 3,639.4 billion yen (US$ 44.4 billion*) in the fiscal year ended
March 31, 2012. For more information visit http://www.MitsubishiElectric.com

*At an exchange rate of 82 yen to the US dollar, the rate given by the Tokyo
Foreign Exchange Market on March 31, 2012

Contact:

Mitsubishi Electric Corporation
Investor Inquiries
Investor Relations Group
Corporate Finance Division
Tel: +81-3-3218-2391
Cad.Irg@rk.MitsubishiElectric.co.jp
or
Media Inquiries
Katsunobu Muroi, +81-3-3218-2346
Public Relations Division
prd.gnews@nk.MitsubishiElectric.co.jp
http://www.MitsubishiElectric.com/news/