Financial Data 2016
CONTENTS
SUMMARY OF OPERATIONS
SALES COMPOSITION
OVERSEAS SALES COMPOSITION
COSTS AND EXPENSES
INTEREST AND INTEREST COVERAGE RATIO
INCOME
OPERATING INCOME
PER SHARE DATA
MITSUBISHI ELECTRIC CORP. SHAREHOLDERS' EQUITY
PROFITABILITY AND PER EMPLOYEE DATA
R&D EXPENSES AND INVESTMENT IN PROPERTY, PLANT AND EQUIPMENT
ASSETS AND TURNOVER
DEBT AND LIQUIDITY
CONSOLIDATED BALANCE SHEETS (ASSETS)
CONSOLIDATED BALANCE SHEETS (LIABILITIES AND EQUITY)
CONSOLIDATED STATEMENTS OF INCOME AND RETAINED EARNINGS
CONSOLIDATED STATEMENTS OF CASH FLOWS
CORPORATE INFORMATION
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
SUMMARY OF OPERATIONS
Net Sales and Annual Growth Rate （売上高及び対前年度伸長率）
5,000.0
4,000.0
(Billion yen)
3,855.7 4,049.8
3,665.1
3,353.2
3,645.3 3,639.4 3,567.1
4,054.3
4,323.0 4,394.3
3,000.0
2,000.0
1,000.0
Net sales
0.0
2007
Annual growth rate
15.0
10.0
5.0
0.0
-5.0
-10.0
-15.0
2008
2009
2010
2011
2012
2013
2014
2015
2016
13.7
(％)
7.0
8.7
5.0
6.6
1.6
2007
2008
-9.5
-8.5
2009
2010
2011
-0.2
-2.0
2012
2013
2014
2015
2016
Net Income Attributable to Mitsubishi Electric Corp. and Return on Sales
（当社株主に帰属する当期純利益及び売上高当社株主に帰属する当期純利益率）
250.0
(Billion yen)
200.0
150.0
157.9
124.5
123.0
2015
2016
5.4
5.2
2015
2016
112.0
69.5
50.0
12.1
28.2
0.0
2007
6.0
4.0
2008
2009
2010
2011
2012
2013
2014
(％)
3.9
3.2
2.0
Return on sales
228.4
153.4
100.0
Net income attributable to
Mitsubishi Electric Corp.
234.6
3.4
0.3
3.1
0.8
3.8
1.9
0.0
2007
Years ended March 31
Net sales
Percent change from previous year (％)
Net income attributable to
Mitsubishi Electric Corp.
Percent change from previous year (％)
Return on sales
(％)
2008
2009
2010
2011
2012
2013
2014
(Million yen)
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
3,855,745 4,049,818 3,665,119 3,353,298 3,645,331 3,639,468 3,567,184 4,054,359 4,323,041 4,394,353
7.0
5.0
(9.5)
(8.5)
8.7
(0.2)
(2.0)
13.7
6.6
1.6
123,080
157,977
12,167
28,278
124,525
112,063
69,517
153,473
234,694
228,494
28.6
3.2
28.4
3.9
(92.3)
0.3
132.4
0.8
340.4
3.4
(10.0)
3.1
(38.0)
1.9
120.8
3.8
52.9
5.4
(2.6)
5.2
-1-
SALES COMPOSITION
Net Sales by Business Segment （事業セグメント別売上高）
6,000
(Billion yen)
5,000
25.0%
Energy and Electric Systems
Industrial Automation
Systems
4,000
27.3%
3,000
2,000
22.1%
15.9%
4.3%
Home Appliances
24.6%
23.1%
25.1%
Information and
Communication Systems
Electronic Devices
21.9%
1,000
Others
21.3%
14.5%
22.2%
14.1%
4.2%
21.9%
14.5%
24.8%
25.9%
24.6%
25.4%
26.2%
22.7%
23.4%
20.5%
19.2%
22.3%
14.0%
13.8%
11.7%
4.0%
3.6%
4.2%
22.0%
21.6%
22.3%
20.3%
14.4%
14.5%
14.7%
14.6%
12.8%
12.3%
4.0%
4.8%
20.1%
14.5%
23.7%
11.8%
25.7%
11.2%
11.1%
4.8%
4.2%
4.2%
20.3%
18.9%
19.5%
14.6%
14.8%
14.0%
0
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
41.9
42.6
2015
2016
Overseas Sales （海外売上高）
45.0
(％)
38.8
40.0
35.0
Percentage to net sales
33.6
32.4
2008
2009
31.1
32.5
33.7
33.5
2011
2012
34.5
30.0
25.0
20.0
2007
2010
2013
2014
(Million yen)
Years ended March 31
2007
2008
Energy and Electric Systems
951,065 1,057,935 1,043,633 1,039,669 1,027,749 1,027,115 1,058,177 1,180,093 1,228,958 1,264,604
Industrial Automation Systems
Information and Communication
Systems
Electronic Devices
956,930 1,017,503
851,688
733,132
927,002
978,380
927,857 1,098,796 1,282,749 1,321,937
688,004
644,388
582,146
526,161
487,915
516,354
522,422
548,282
559,521
561,119
185,911
192,087
166,969
138,985
175,910
200,799
164,065
194,658
238,402
211,580
Home Appliances
921,948 1,000,258
915,710
824,679
924,478
849,274
821,298
944,351
944,830
982,064
Others
630,510
596,091
552,981
609,416
611,619
590,366
676,034
740,517
707,746
660,822
2009
2010
2011
2012
2013
2014
2015
2016
Sub - Total
4,334,368 4,572,993 4,156,237 3,815,607 4,152,470 4,183,541 4,084,185 4,642,214 4,994,977 5,049,050
Eliminations
(478,623) (523,175) (491,118) (462,309) (507,139) (544,073) (517,001) (587,855) (671,936) (654,697)
Total
3,855,745 4,049,818 3,665,119 3,353,298 3,645,331 3,639,468 3,567,184 4,054,359 4,323,041 4,394,353
Overseas sales
1,200,318 1,359,582 1,186,610 1,090,464 1,229,241 1,220,193 1,231,471 1,573,990 1,810,684 1,873,159
-2-
OVERSEAS SALES COMPOSITION
Overseas Sales by Business Segment （事業セグメント別海外売上高）
2,000
(Billion yen)
1,800
24.5%
1,600
24.6%
1,400
Energy and Electric
Systems
Industrial Automation
Systems
Information and
Communication Systems
Electronic Devices
Home Appliances
1,200
22.5%
21.7%
25.8%
1,000
800
600
400
200
Others
0
30.9%
2.1%
6.4%
34.9%
3.2%
2007
23.5%
1.6%
6.2%
24.5%
28.8%
28.4%
37.3%
36.3%
38.6%
38.1%
2008
2.1%
1.0%
6.5%
5.7%
1.7%
2.2%
1.4%
1.8%
2.1%
5.4%
5.4%
5.8%
7.3%
6.0%
37.1%
33.8%
31.4%
28.3%
28.0%
28.4%
26.2%
1.6%
1.4%
1.6%
1.4%
1.3%
1.1%
1.0%
37.2%
2.5%
40.3%
40.6%
30.8%
28.4%
22.6%
25.5%
2009
2010
2011
2012
2013
2.5%
5.3%
26.7%
2014
2015
0.7%
2016
Geographical Breakdown of Overseas Sales （向先別海外売上高）
(Billion yen)
2,000
1,800
1,600
22.0%
1,400
21.0%
21.7%
1,200
North America
1,000
Asia (excluding Japan)
Europe
24.8%
800
600
200
0
22.9%
40.0%
39.2%
400
Others (South and Central
America, Oceania and Africa)
23.9%
28.3%
7.7%
2007
31.5%
6.8%
2008
41.1%
20.4%
21.3%
21.7%
44.8%
51.5%
49.1%
29.0%
26.2%
23.5%
7.0%
7.3%
7.0%
2009
19.7%
2010
-3-
2011
53.0% 51.4%
48.4%
49.1%
24.9%
22.8%
21.7%
19.9%
7.0%
6.8%
5.8%
5.1%
2012
2013
2014
2015
19.8%
4.9%
2016
COSTS AND EXPENSES
Cost of Sales （売上原価）
3,500.0
(Billion yen)
2,957.1
2,710.9
3,000.0 2,831.3
3,071.4
2,914.5 3,032.1
2,505.0 2,622.9 2,628.9 2,604.3
2,500.0
2,000.0
1,500.0
1,000.0
Cost of sales
500.0
0.0
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
(％)
77.0
75.0
73.0
71.0
69.0
67.0
65.0
Percentage to net sales
73.5
2007
73.0
2008
74.0
2009
74.7
72.0
2010
2011
72.2
2012
73.0
71.9
70.1
2013
2014
69.9
2015
2016
Selling, General and Administrative Expenses （販売費及び一般管理費）
Selling, general and
administrative expenses
900.0
800.0
700.0
600.0
500.0
400.0
300.0
200.0
100.0
0.0
Percentage to net sales
20.0
19.0
18.0
17.0
16.0
15.0
(Billion yen)
667.6
688.1
650.4
614.0
645.7
625.2
648.8
2007
2008
2009
2010
2011
2012
2013
(％)
(％)
2014
790.5
826.2
2015
2016
(％)
17.3 17.0
2007
Years ended March 31
Cost of sales
Cost of sales/net sales
Selling, general and administrative
expenses
Selling, general and administrative
expenses/net sales
737.0
2008
17.7
2009
18.2
18.3
17.7
2010
2011
18.3
18.2
18.8
17.2
2012
2013
2014
2015
2016
(Million yen)
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2,831,309 2,957,185 2,710,976 2,505,095 2,622,959 2,628,964 2,604,360 2,914,589 3,032,161 3,071,435
73.5
73.0
74.0
74.7
72.0
72.2
73.0
71.9
70.1
69.9
667,655
688,138
650,455
614,062
645,779
625,283
648,890
737,042
790,563
826,232
17.3
17.0
17.7
18.3
17.7
17.2
18.2
18.2
18.3
18.8
-4-
INTEREST AND INTEREST COVERAGE RATIO
Interest （支払利息）
15.0
(Billion yen)
11.0
9.6
9.3
10.0
9.3
7.7
6.8
6.5
4.5
5.0
4.0
3.4
Interest
0.0
2007
2008
2009
2010
0.2
0.3
0.3
2011
2013
0.2
0.2
2014
2015
2016
0.1
0.1
0.1
2014
2015
2016
(％)
0.6
0.4
0.2
0.2
0.2
Percentage to net sales
2012
0.0
2007
2008
2009
2010
2011
2012
2013
-0.2
Interest Coverage Ratio （インタレスト・カバレッジ・レシオ）
100.0
90.0
80.0
70.0
60.0
50.0
40.0
30.0
20.0
10.0
0.0
(Times)
88.6
80.8
53.5
24.6
2007
Years ended March 31
Interest
Interest /net sales
Interest coverage ratio
(％)
(Times)
31.2
34.3
2011
2012
28.9
13.9
2008
2007
9,375
0.2
24.6
2009
2008
9,623
0.2
28.9
24.6
11.0
2010
2009
11,013
0.3
13.9
-5-
2010
9,345
0.3
11.0
2013
2011
7,749
0.2
31.2
2014
2012
6,818
0.2
34.3
2015
2016
2013
6,507
0.2
24.6
2014
4,539
0.1
53.5
(Million yen)
2015
2016
4,023
3,495
0.1
0.1
80.8
88.6
INCOME
Income Before Income Taxes （税金等調整前当期純利益）
350
(Billion yen)
300
250
244.1
210.7
210.2
322.9
318.4
2015
2016
248.9
224.0
200
150
100
50
Income before income taxes
65.1
64.2
43.9
0
2007
8.0
2009
2010
2011
2012
2013
2014
(％)
7.5
7.0
6.0
6.0
5.0
2008
5.8
7.2
6.2
6.1
5.5
4.0
3.0
2.0
Percentage to net sales
1.8
1.9
1.2
1.0
0.0
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
27.7
29.4
2015
2016
Equity in Earnings (Losses) of Affiliated Companies （持分法による投資損益）
45
25
(Billion yen)
23.1
18.5
10.6
5
-3.3
-15
-14.6
-20.2
-35
-34.8
-55
-67.7
2009
-75
2007
2008
2010
Years ended March 31
2007
2008
Income before income taxes
210,733
244,137
43,933
5.5
6.0
18,507
10,675
Income before income taxes/net
sales
Equity in earnings (losses) of
affiliated companies
(％)
2009
2011
2010
2012
2013
2014
2014
(Million yen)
2015
2016
65,141
248,990
322,968
318,476
6.2
1.8
6.1
7.5
7.2
(3,366)
(14,619)
23,153
27,725
29,433
2011
2012
64,259
210,237
224,080
1.2
1.9
5.8
(67,715)
(34,801)
(20,285)
2013
*：2010年3月期より、税金等調整前当期純利益に持分法による投資損益を含め、非支配持分帰属損益を含めない表示変更を行っておりま
す。これに伴い、過年度（2007年3月期～2009年3月期）についても組替再表示しています。
*：Starting FY2010, income before income taxes includes equity in earnings (losses) of affiliated companies, while excluding net income
attributable to the noncontrolling interest. Consequently, figures for FY2007-FY2009 have been reclassified.
-6-
OPERATING INCOME
Operating Income （営業利益）
400
300
(Billion yen)
264.0
233.7
218.3
200
317.6
301.1
2015
2016
235.1
225.4
152.0
139.7
94.3
100
0
2007
2008
2009
2010
2011
2012
2013
2014
(Million yen)
Years ended March 31
2007
2008
2009
Operating Income
218,372
264,016
139,728
47.7
20.9
(47.1)
Percent change from previous year (％)
2010
2011
2012
2013
2014
2015
2016
94,302
233,761
225,444
152,095
235,172
317,604
301,172
(32.5)
147.9
(3.6)
(32.5)
54.6
35.1
(5.2)
Operating Income (Loss) by Business Segment （事業セグメント別営業利益（損失））
(Million yen)
Years ended March 31
Energy and Electric Systems
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
49,299
68,543
74,539
74,727
83,055
84,920
85,140
76,324
72,448
50,342
Industrial Automation Systems
125,139
129,257
49,934
26,138
100,089
101,192
60,592
98,079
145,982
159,160
Information and Communication
Systems
20,803
2,352
24,869
18,672
13,743
21,312
1,591
5,529
18,934
14,999
Electronic Devices
12,141
8,395
(29,807)
(7,141)
5,901
3,585
(5,580)
10,050
30,163
16,870
Home Appliances
23,306
65,754
34,706
4,809
42,008
22,358
19,300
52,878
54,296
63,856
Others
14,976
16,916
12,341
3,204
14,475
20,348
18,790
19,801
23,742
23,620
Sub - Total
245,664
291,217
166,582
120,409
259,271
253,715
179,833
262,661
345,565
328,847
Eliminations and other
(27,292)
(27,201)
(26,854)
(26,107)
(25,510)
(28,271)
(27,738)
(27,489)
(27,961)
(27,675)
Total Operating Income
218,372
264,016
139,728
94,302
233,761
225,444
152,095
235,172
317,604
301,172
Operating Income (Loss)/Net Sales by Business Segment （事業セグメント別営業利益（損失）率）
(%)
Years ended March 31
2007
Energy and Electric Systems
2008
2009
2010
2011
2012
2013
2014
2015
2016
5.2
6.5
7.1
7.2
8.1
8.3
8.0
6.5
5.9
4.0
13.1
12.7
5.9
3.6
10.8
10.3
6.5
8.9
11.4
12.0
3.0
0.4
4.3
3.5
2.8
4.1
0.3
1.0
3.4
2.7
6.5
4.4
(17.9)
(5.1)
3.4
1.8
(3.4)
5.2
12.7
8.0
Home Appliances
2.5
6.6
3.8
0.6
4.5
2.6
2.3
5.6
5.7
6.5
Others
2.4
2.6
2.1
0.6
2.4
3.3
3.2
2.9
3.2
3.3
Sub - Total
5.7
6.4
4.0
3.2
6.2
6.1
4.4
5.7
6.9
6.5
Industrial Automation Systems
Information and Communication
Systems
Electronic Devices
Eliminations and other
Total Operating Income
－
－
5.7
－
6.5
－
3.8
-7-
－
2.8
－
6.4
－
6.2
－
4.3
－
5.8
－
7.3
6.9
PER SHARE DATA
Basic Net Income per Share Attributable to Mitsubishi Electric Corp. （基本的１株当り当社株主に帰属する当期純利益）
(yen)
120
110
100
90
80
70
60
50
40
30
20
10
0
74
109
106
2015
2016
27
27
2015
2016
71
58
57
52
32
6
2007
2008
2009
13
2010
2011
2012
2013
2014
Cash Dividends per Share and Payout Ratio （１株当り配当金及び配当性向）
30
(yen)
25
20
17
13
15
12
12
2011
2012
10
11
10
6
4
5
Cash dividends per share
0
2007
Payout ratio
110.0
100.0
90.0
80.0
70.0
60.0
50.0
40.0
30.0
20.0
10.0
0.0
2008
2010
2014
34.0
30.3
17.4
2013
105.8
(％)
17.7
2007
Years ended March 31
Basic net income per share
attributable to Mitsubishi Electric Corp.
Cash dividends per share
Payout ratio
(％)
2009
2008
2007
20.7
2009
2008
2010
2011
2009
23.0
2012
2010
2013
2011
23.8
24.7
2014
2015
2012
25.4
2016
2013
2014
2015
(Yen)
2016
57.3
73.6
5.7
13.2
58.0
52.2
32.4
71.5
109.3
106.4
10.0
17.4
13.0
17.7
6.0
105.8
4.0
30.3
12.0
20.7
12.0
23.0
11.0
34.0
17.0
23.8
27.0
24.7
27.0
25.4
-8-
MITSUBISHI ELECTRIC CORP. SHAREHOLDERS' EQUITY
Mitsubishi Electric Corp. Shareholders' Equity and Equity Ratio （株主資本及び株主資本比率）
2,000.0
1,800.0
1,600.0
1,400.0
1,200.0
1,000.0
800.0
600.0
Mitsubishi Electric Corp.
400.0
Shareholders' equity
200.0
0.0
(Billion yen)
1,524.3
1,300.0
1,059.2 1,031.4
849.4
2007
60.0
45.0
2008
2009
964.5
2010
1,050.3
1,132.4
2011
2012
2013
2014
2015
2016
(％)
30.7
29.6
2007
2008
30.0
Equity ratio
1,842.2 1,838.7
25.5
30.0
31.5
38.1
33.4
45.4
45.3
2014
2015
2016
24.5
20.7
22.0
2014
2015
42.2
15.0
0.0
2009
2010
2011
2012
2013
Debt/Equity Ratio （負債／株主資本比率）
100.0
(％)
79.8
80.0
60.0
60.5
53.4
55.7
46.1
47.9
40.0
41.6
20.0
0.0
2007
Years ended March 31
Mitsubishi Electric Corp.
Shareholders' equity
Mitsubishi Electric Corp.
Shareholders' equity/total assets
Debt
Debt/equity ratio
2008
2007
2009
2008
1,059,209 1,031,438
(％)
(％)
2010
2011
2012
2013
2011
2012
2013
2016
2014
(Million yen)
2015
2016
2009
2010
849,476
964,584 1,050,340 1,132,465 1,300,070 1,524,322 1,842,203 1,838,773
30.7
29.6
25.5
30.0
31.5
33.4
38.1
42.2
45.4
45.3
641,082
550,797
677,864
537,500
484,352
542,291
540,572
373,478
381,994
404,039
60.5
53.4
79.8
55.7
46.1
47.9
41.6
24.5
20.7
22.0
-9-
PROFITABILITY AND PER EMPLOYEE DATA
Return on Sales, Return on Assets and Return on Equity
（売上高当社株主に帰属する当期純利益率、総資産当社株主に帰属する当期純利益率及び
株主資本当社株主に帰属する当期純利益率）
(％)
10.0
5.0
Return on sales
3.9
3.2
3.1
2011
2012
0.8
0.3
3.8
5.4
2014
2015
5.2
1.9
0.0
2007
Return on assets
3.4
8.0
6.0
4.0
2.0
0.0
2008
2009
2010
2013
(％)
6.1
4.6
3.6
2007
20.0
2016
3.8
2008
0.4
0.9
2009
2010
3.3
2011
2012
5.6
4.4
2.0
2013
2014
2015
2016
(％)
15.1
12.3
12.4
10.3
10.0
3.1
1.3
Return on equity
10.9
13.9
12.4
2015
2016
5.7
0.0
2007
2008
2009
2010
2011
2012
2013
2014
Net Sales per Employee and Net Income Attributable to Mitsubishi Electric Corp. per Employee
（従業員一人当り売上高及び従業員一人当り当社株主に帰属する当期純利益）
40,000
35,000
(Thousand yen)
34,276
38,332
37,494
31,853
30,606
33,447
31,023
30,000
Net sales per employee
2,000
2008
2009
2010
2011
Net income attributable 1,000
to Mitsubishi Electric
0
Corp.
per employee
2012
2013
2014
2015
1,197 1,495
2007
2008
2007
3.2
3.6
12.3
2016
1,816 1,691
(Thousand yen)
1,088
Years ended March 31
Number of employees (persons)
Net sales per employee
Net income attributable
to Mitsubishi Electric Corp.
per employee
32,512
32,616
25,000
2007
Years ended March 31
Return on sales
Return on assets
Return on equity
29,491
114
2009
2008
3.9
4.6
15.1
575
258
2010
1,235
955
2011
2009
0.3
0.4
1.3
2012
2010
0.8
0.9
3.1
2013
2011
3.4
3.8
12.4
2014
2015
2012
3.1
3.3
10.3
2016
2013
1.9
2.0
5.7
2014
3.8
4.4
10.9
2015
5.4
6.1
13.9
(Thousand yen)
2015
2016
129,249 135,160
33,447
32,512
2007
102,835
37,494
2008
105,651
38,332
2009
106,931
34,276
2010
109,565
30,606
2011
114,443
31,853
2012
117,314
31,023
2013
120,958
29,491
2014
124,305
32,616
1,197
1,495
114
258
1,088
955
575
1,235
- 10 -
(％)
2016
5.2
5.6
12.4
1,816
1,691
R&D EXPENSES AND INVESTMENT IN PROPERTY, PLANT AND EQUIPMENT
R&D Expenses （研究開発費）
(Billion yen)
250.0
200.0
132.7
150.0
148.7
144.4
133.7
2008
2009
2010
151.7
169.6
172.2
178.9
2012
2013
2014
195.3
202.9
2015
2016
4.5
4.6
100.0
50.0
R&D expenses *
0.0
2007
6.0
2011
(％)
3.7
3.4
4.0
3.9
4.8
4.7
4.2
4.0
4.4
2.0
Percentage to net sales
0.0
2007
2008
2009
2010
2011
2012
191.9
179.2
2011
2012
5.3
4.9
2013
2014
2015
2016
222.3
206.8
212.5
2014
2015
2016
Investment in Property, Plant and Equipment （設備投資額）
(Billion yen)
300.0
162.3
200.0
Investment in property,
plant and equipment
168.7
167.7
91.9
100.0
0.0
2007
2008
2009
2010
(％)
6.0
4.2
4.2
4.6
2007
2008
2009
2013
5.5
4.5
4.8
4.8
2.7
4.0
Investment in property,
plant and equipment/net
sales
160.1
2.0
0.0
2010
2011
2012
2013
2014
2015
2016
Years ended March 31
2007
2008
2009
2010
2011
2012
2013
2014
(Million yen)
2015
2016
R&D expenses *
132,722
148,790
144,444
133,781
151,779
169,686
172,222
178,945
195,314
202,922
3.4
3.7
3.9
4.0
4.2
4.7
4.8
4.4
4.5
4.6
R&D expenses/net sales
(％)
*: 研究開発費には、製造費用へ計上した改良費等が含まれています。
*: R&D expenses include elements spent on quality improvements, which constitute manufacuturing costs.
Years ended March 31
Investment in property, plant and
equipment
Investment in property, plant and
equipment/net sales
2007
(％)
2008
2009
2010
2011
2012
2013
2014
(Billion yen)
2015
2016
162.3
168.7
167.7
91.9
191.9
179.2
160.1
222.3
206.8
212.5
4.2
4.2
4.6
2.7
5.3
4.9
4.5
5.5
4.8
4.8
- 11 -
ASSETS AND TURNOVER
Assets Components and Total Assets （資産構成及び総資産）
(Billion yen)
4,500
4,000
3,500
25.9%
3,000
2,500
26.2%
1,500
Inventories
1,000
Tangible fixed assets
Others
500
25.6%
17.4%
15.9%
17.4%
17.5%
39.2%
41.0%
27.3%
23.8%
24.6%
15.1%
15.0%
16.0%
14.8%
15.8%
17.5%
17.3%
16.6%
16.1%
15.8%
41.5%
41.5%
44.1%
44.5%
44.6%
2,000
Trade receivables
23.3%
26.0%
28.6%
28.1%
17.3%
17.0%
16.4%
16.7%
18.0%
17.7%
38.5%
38.0%
36.4%
0
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Turnover （回転率）
9
(Times)
8
7.41
7.73
6.89
7
6
5
6.73
6.37
4.44
4.31
6.61 6.48
4.72
6.73
7.07 6.91
4.23
6.54
6.91
6.32
3.82
4
Total assets turnover
Trade receivables
turnover
Inventory turnover
Tangible fixed assets
turnover
Years ended March 31
Total assets
5.92
4.60
6.13
6.04
3.65
6.24
4.10
6.82
6.12 6.17
4.23
4.10
3
2
1.12
1.16
1.10
1.04
1.09
1.07
1.05
1.12
1.06
1.08
2009
2010
2011
2012
2013
2014
2015
2016
1
0
2007
2008
2007
2008
2009
2010
2011
2012
2013
2014
(Million yen)
2015
2016
3,452,231 3,485,080 3,334,123 3,215,094 3,332,679 3,391,651 3,410,410 3,612,966 4,059,451 4,059,941
Trade receivables
894,982
912,651
776,485
792,314
793,081
951,753
977,026
988,281 1,054,175 1,039,829
Inventories
520,238
524,162
531,603
474,204
527,504
576,179
590,735
602,341
705,420
644,127
Tangible fixed assets
605,285
602,023
554,424
517,534
527,453
556,845
603,000
649,385
706,475
712,599
(Times)
Years ended March 31
Total assets turnover
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
1.12
1.16
1.10
1.04
1.09
1.07
1.05
1.12
1.06
1.08
Trade receivables turnover
4.31
4.44
4.72
4.23
4.60
3.82
3.65
4.10
4.10
4.23
Inventory turnover
7.41
7.73
6.89
7.07
6.91
6.32
6.04
6.73
6.13
6.82
Tangible fixed assets turnover
6.37
6.73
6.61
6.48
6.91
6.54
5.92
6.24
6.12
6.17
- 12 -
DEBT AND LIQUIDITY
Debt Composition and Percent of Total Assets （負債構成及び負債／総資産比率）
1,000
500
Short-term debt
Long-term debt
(Billion yen)
39.5%
60.5%
35.4%
64.6%
45.9%
54.1%
24.0%
76.0%
41.9%
58.1%
37.0%
43.5%
56.5%
63.0%
43.4%
43.0%
56.6%
57.0%
28.8%
71.2%
0
2007
40.0
2008
2009
2010
2011
2012
2013
16.7
14.5
16.0
15.9
2014
2015
2016
9.4
10.0
2015
2016
(％)
30.0
20.0
The ratio of interestbearing debt to total
assets
18.6
15.8
20.3
10.3
10.0
0.0
2007
2008
2009
2010
2011
2012
2013
2014
Current Assets, Current Liabilities and Current Ratio （流動資産、流動負債及び流動比率）
3,000.0
(Billion yen)
2,290.0
2,633.4 2,551.8
2,050.5 2,060.6 1,939.9 1,905.8 2,052.8 2,180.3 2,129.3
2,000.0
1,612.5 1,507.9
1,529.8 1,505.9 1,413.0
1,421.1 1,387.7 1,386.0 1,494.2
1,214.1
Current assets
Current liabilities
1,000.0
0.0
2007
Current ratio
180.0
170.0
160.0
150.0
140.0
130.0
120.0
110.0
100.0
Current assets
Current liabilities
Current ratio
(％)
(％)
2009
2010
2011
2012
2013
2014
2015
(％)
157.0
134.0
2007
Years ended March 31
Debt
Short-term debt
Long-term debt
The ratio of interest-bearing debt
to total assets
2008
136.8 137.3
2008
2009
2010
157.1
144.5
2011
2012
153.6
153.3
2013
2014
163.3
2015
2016
169.2
2016
2007
641,082
253,141
387,941
2008
550,797
195,057
355,740
2009
677,864
310,887
366,977
2010
537,500
128,999
408,501
2011
484,352
202,761
281,591
2012
542,291
200,502
341,789
2013
540,572
234,918
305,654
2014
373,478
162,052
211,426
18.6
15.8
20.3
16.7
14.5
16.0
15.9
10.3
(Million yen)
2015
2016
381,994 404,039
164,402 116,532
217,592 287,507
9.4
10.0
2,050,500 2,060,628 1,939,916 1,905,852 2,052,887 2,180,362 2,129,395 2,290,007 2,633,445 2,551,863
1,529,838 1,505,901 1,413,015 1,214,176 1,421,174 1,387,744 1,386,067 1,494,243 1,612,582 1,507,943
134.0
136.8
137.3
157.0
144.5
157.1
153.6
153.3
163.3
169.2
- 13 -
CONSOLIDATED BALANCE SHEETS (ASSETS)
連結貸借対照表（資産）
(Million yen)
2007
Years ended March 31
Current assets
2008
2009
2010
2011
2012
2013
2014
2015
2016
（流動資産）
¥342,640
¥334,311
¥358,616
¥391,118
¥472,067
¥392,181
¥298,881
¥418,049
16,258
9,506
13,276
9,542
10,031
2,995
812
51
（受取手形及び売掛金）
891,271
912,171
766,983
790,754
790,991
950,736
974,505
983,468
1,048,542
1,035,168
Inventories
（棚卸資産）
520,238
524,162
531,603
474,204
527,504
576,179
590,735
602,341
705,420
644,127
Prepaid expenses and other current assets
（前払費用及びその他の流動資産）
280,093
280,478
269,438
240,234
252,294
258,271
264,462
286,098
310,966
298,398
2,050,500
2,060,628
1,939,916
1,905,852
2,052,887
2,180,362
2,129,395
2,290,007
2,633,445
2,551,863
3,711
480
9,502
1,560
2,090
1,017
2,521
4,813
5,633
4,661
Cash and cash equivalents
（現金及び預金等）
Short-term investments
（有価証券）
Trade receivables
Total current assets
Long-term receivables and investments
（流動資産計）
¥568,517
-
¥574,170
-
（長期債権及び投資）
Long-term trade receivables
（長期営業債権）
Investments in securities and other
（投資有価証券及びその他）
312,189
292,504
273,879
292,281
259,164
240,463
242,271
314,047
401,367
336,328
Investments in and advances to affiliated companies
（関連会社に対する投資及び貸付金）
259,269
246,419
186,490
173,372
189,789
179,039
181,285
183,463
194,461
201,378
（長期債権及び投資計）
575,169
539,403
469,871
467,213
451,043
420,519
426,077
502,323
601,461
542,367
Total long-term receivables and investments
Property, plant and equipment
（有形固定資産）
Land
（土地）
103,090
102,617
99,744
98,484
99,438
102,298
105,449
104,272
109,708
113,564
Buildings
（建物及び構築物）
567,173
578,956
590,587
604,019
611,574
624,495
659,411
703,223
749,926
777,792
Machinery and equipment
（機械装置及びその他の有形固定資産）
1,407,607
1,425,188
1,442,685
1,461,201
1,475,820
1,541,239
1,637,682
1,712,632
1,844,255
1,843,309
Construction in progress
（建設仮勘定）
24,378
25,733
21,977
22,472
26,862
41,365
50,813
54,632
48,328
47,772
2,102,248
2,132,494
2,154,993
2,186,176
2,213,694
2,309,397
2,453,355
2,574,759
2,752,217
2,782,437
Subtotal
Less accumulated depreciation
Net property, plant and equipment
Other assets
Total assets
（有形固定資産取得額）
（減価償却累計額）
(1,496,963) (1,530,471) (1,600,569) (1,668,642) (1,686,241) (1,752,552) (1,850,355) (1,925,374) (2,045,742) (2,069,838)
（有形固定資産計）
605,285
602,023
554,424
517,534
527,453
556,845
603,000
649,385
706,475
712,599
（その他の資産）
221,277
283,026
369,912
324,495
301,296
233,925
251,938
171,251
118,070
253,112
（資産合計）
¥3,452,231 ¥3,485,080 ¥3,334,123 ¥3,215,094 ¥3,332,679 ¥3,391,651 ¥3,410,410 ¥3,612,966 ¥4,059,451 ¥4,059,941
- 14 -
CONSOLIDATED BALANCE SHEETS
(LIABILITIES AND EQUITY)
連結貸借対照表（負債及び資本）
(Million yen)
2007
Years ended March 31
Current liabilities
（短期借入金）
Current portion of long-term debt
（一年以内に期限の到来する社債及び長期借入金）
Trade payables
（支払手形及び買掛金）
Accrued expenses
（未払費用）
Accrued income taxes
（未払法人税等）
Other current liabilities
（その他の流動負債）
（流動負債計）
Long-term debt
（社債及び長期借入金）
Retirement and severance benefits
（退職給付引当金）
Other liabilities
（その他の固定負債）
Total liabilities
（負債合計）
Common stock
（資本金）
Capital surplus
（資本剰余金）
Legal reserve
（利益準備金）
Retained earnings
（その他剰余金）
Foreign currency translation adjustments
（為替換算調整額）
Pension liability adjustments
（年金負債調整額）
Unrealized gains (losses) on securities
（有価証券未実現損益）
Unrealized gains (losses) on derivative instruments （デリバティブ未実現損益）
Treasury stock at cost
（自己株式）
Mitsubishi Electric Corp. shareholders' equity
（株主資本計）
Noncontrolling interests
（非支配持分）
Total equity
Total liabilities and equity
2009
2010
2011
2012
2013
2014
2015
2016
（流動負債）
Bank loans
Total current liabilities
2008
（資本合計）
（負債・資本合計）
¥148,621
¥86,878 ¥206,520
¥71,022
¥64,905 ¥111,670 ¥131,837
¥60,275
¥72,385
¥61,873
104,520
108,179
104,367
57,977
137,856
88,832
103,081
101,777
92,017
54,659
739,585
757,606
612,129
627,153
691,539
694,335
646,707
758,913
807,289
773,714
334,413
365,259
344,646
310,488
325,032
310,910
299,001
337,571
358,082
359,089
75,971
69,973
24,494
23,178
47,418
15,866
11,919
17,151
29,624
22,962
126,728
118,006
120,859
124,358
154,424
166,131
193,522
218,556
253,185
235,646
1,529,838 1,505,901 1,413,015 1,214,176 1,421,174 1,387,744 1,386,067 1,494,243 1,612,582 1,507,943
387,941
355,740
366,977
408,501
281,591
341,789
305,654
211,426
217,592
287,507
360,713
476,224
595,478
458,763
419,008
372,082
254,977
212,638
182,282
229,750
54,169
55,995
56,713
112,460
101,881
99,016
96,721
94,308
116,828
97,238
2,332,661 2,393,860 2,432,183 2,193,900 2,223,654 2,200,631 2,043,419 2,012,615 2,129,284 2,122,438
175,820
175,820
175,820
175,820
175,820
175,820
175,820
175,820
175,820
175,820
210,910
210,890
210,881
210,006
208,669
206,343
205,945
207,089
211,155
211,999
54,929
56,189
57,225
58,281
59,223
61,040
61,406
62,739
64,058
65,652
577,074
708,033
691,260
718,482
822,750
905,086
950,621 1,076,999 1,267,438 1,436,375
32,088
4,889
(47,499)
(41,524)
(59,400)
(67,654)
(8,023)
38,652
102,959
39,847
(59,723) (148,246) (233,373) (171,674) (162,390) (160,156) (112,523) (119,279)
(98,108) (184,231)
68,578
24,511
(4,099)
16,600
5,957
12,242
27,045
82,636
119,252
93,742
(11)
(141)
(95)
89
(86)
(35)
14
(52)
(39)
(57)
(456)
(507)
(644)
(1,496)
(203)
(221)
(235)
(282)
(332)
(374)
1,059,209 1,031,438
849,476
964,584 1,050,340 1,132,465 1,300,070 1,524,322 1,842,203 1,838,773
60,361
59,782
52,464
56,610
58,685
58,555
66,921
76,029
87,964
98,730
1,119,570 1,091,220
901,940 1,021,194 1,109,025 1,191,020 1,366,991 1,600,351 1,930,167 1,937,503
¥3,452,231 ¥3,485,080 ¥3,334,123 ¥3,215,094 ¥3,332,679 ¥3,391,651 ¥3,410,410 ¥3,612,966 ¥4,059,451 ¥4,059,941
- 15 -
CONSOLIDATED STATEMENTS OF INCOME　AND RETAINED EARNINGS
連結損益計算書
(Million yen)
Years ended March 31
Net sales
（売上高）
Operating costs and expenses
（売上原価及び費用）
Cost of sales
（売上原価）
Selling, general and administrative
（販売費及び一般管理費）
Research and development
（試験研究費）
Loss on impairment of long-lived assets
（固定資産減損損失）
Total operating costs and expenses
（売上原価及び費用計）
Operating income
（営業利益）
Other Income
（営業外収益）
Interest and dividends
（受取利息及び受取配当金）
*
Equity in earnings of affiliated companies
（持分法による投資利益）
Other
（その他の収益）
Total other Income
（営業外収益計）
Other Expenses
（営業外費用）
Interest
（支払利息）
Equity in losses of affiliated companies
（持分法による投資損失）
*
Other
（その他の費用）
*
Total other Expenses
（営業外費用計）
Income before income taxes
（当期純利益）
Income taxes
（法人税等）
Current
（当期税額）
Deferred
（法人税等の期間配分調整額）
Total income taxes
（法人税等計）
Net income
（当期純利益）
**
*
Net income attributable to noncontrolling interests
（非支配持分帰属損益）
Net income attributable to Mitsubishi Electric Corp.
（当社株主に帰属する当期純利益）
Retained earnings
（その他の剰余金）
Balance at beginning of year
（期首残高）
Deduct:
Cash dividends
（現金配当）
Transfer to legal reserve
（利益準備金積立額）
Balance at end of year
（期末残高）
（1株当たり当社株主に帰属する当期純利益）
Net income per share attributable to Mitsubishi Electric Corp.
Basic
***　(in yen) （基本的）
Diluted
***　(in yen) （希薄化後）
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
¥3,855,745 ¥4,049,818 ¥3,665,119 ¥3,353,298 ¥3,645,331 ¥3,639,468 ¥3,567,184 ¥4,054,359 ¥4,323,041 ¥4,394,353
2,831,309
667,655
123,779
14,630
3,637,373
218,372
2,957,185
688,138
137,290
3,189
3,785,802
264,016
2,710,976
650,455
133,218
30,742
3,525,391
139,728
2,505,095
614,062
122,897
16,942
3,258,996
94,302
2,622,959
645,779
138,827
4,005
3,411,570
233,761
2,628,964
625,283
155,995
3,782
3,414,024
225,444
2,604,360
648,890
157,522
4,317
3,415,089
152,095
2,914,589
737,042
163,765
3,791
3,819,187
235,172
3,032,161
790,563
179,628
3,085
4,005,437
317,604
3,071,435
826,232
187,032
8,482
4,093,181
301,172
12,281
18,507
28,464
59,252
14,539
10,675
15,596
40,810
12,948
－
21,015
33,963
8,921
－
18,277
27,198
8,162
－
28,035
36,197
8,332
－
22,196
30,528
7,742
－
25,361
33,103
7,799
23,153
24,554
55,506
7,365
27,725
43,304
78,394
8,573
29,433
22,570
60,576
9,375
57,516
66,891
210,733
9,623
－
51,066
60,689
244,137
11,013
67,715
51,030
129,758
43,933
9,345
34,801
13,095
57,241
64,259
7,749
20,285
31,687
59,721
210,237
6,818
3,366
21,708
31,892
224,080
6,507
14,619
98,931
120,057
65,141
4,539
－
37,149
41,688
248,990
4,023
－
69,007
73,030
322,968
3,495
－
39,777
43,272
318,476
70,650
9,553
80,203
130,530
7,450
123,080
73,868
5,442
79,310
164,827
6,850
157,977
7,909
20,137
28,046
15,887
3,720
12,167
23,958
7,432
31,390
32,869
4,591
28,278
54,309
22,788
77,097
133,140
8,615
124,525
42,187
63,628
105,815
118,265
6,202
112,063
23,490
(32,999)
(9,509)
74,650
5,133
69,517
34,241
51,957
86,198
162,792
9,319
153,473
60,183
14,730
74,913
248,055
13,361
234,694
52,691
24,355
77,046
241,430
12,936
228,494
473,726
577,074
708,033
691,260
718,482
822,750
905,086
950,621
1,076,999
1,267,438
19,317
415
¥577,074
25,758
1,260
¥708,033
27,904
1,036
¥691,260
－
1,056
¥718,482
19,315
942
¥822,750
27,910
1,817
¥905,086
¥57.34
¥57.34
¥73.60
¥73.59
¥5.67
¥5.67
¥13.18
¥13.18
¥58.00
－
¥52.20
－
－
23,616
25,762
42,936
57,963
366
1,333
1,319
1,594
¥950,621 ¥1,076,999 ¥1,267,438 ¥1,436,375
¥32.38
－
¥71.49
－
*：2010年3月期より、税金等調整前当期純利益に持分法による投資損益を含め、非支配持分帰属損益を含めない表示変更を行っています。これに伴い、過年度（2007年3月期～2009年3月期）についても組替再表示しています。
**：2016年3月期より、非支配持分控除前当期純利益を当期純利益へ名称変更しています。
***：2011年3月期、2012年3月期、2013年3月期、2014年3月期、2015年3月期および2016年3月期の希薄化後1株当たり当社株主に帰属する当期純利益は、潜在株式が存在しないため記載していません。
*：Starting FY2010, income before income taxes includes equity in earnings (losses) of affiliated companies, while excluding net income attributable to the noncontrolling interests. Consequently, figures for FY2007-FY2009 have been reclassified.
***：For FY2011, FY2012, FY2013, FY2014, FY2015and FY2016 diluted net income per share attributable to Mitsubishi Electric Corp. is not also included in the above figure as no dilutive securities existed.
- 16 -
¥109.32
¥106.43
－
－
CONSOLIDATED STATEMENTS OF CASH FLOWS
連結キャッシュ・フロー計算書
(Million yen)
2007
Years ended March 31
Cash flows from operating activities
Net income
Adjustments to reconcile net income to net cash
provided by operating activities
Depreciation of tangible fixed assets and other
Deferred income taxes
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Capital expenditure
Proceeds from sale of property, plant and equipment
Purchase of short-term investments and investment
securities　(net of cash acquired)
Proceeds from sale of short-term investments and
investment securities
Other, net
Net cash used in investing activities
2009
2010
2011
2012
2013
2014
2015
2016
（営業活動によるキャッシュ・フロー）
* （当期純利益）
¥130,530
¥164,827
¥15,887
¥32,869
¥133,140
¥118,265
¥74,650
¥162,792
¥248,055
¥241,430
141,514
9,553
(35,474)
(15,954)
964
19,252
44,382
(20,137)
274,630
139,326
5,442
(29,936)
(16,531)
(4,579)
26,890
(20,894)
(5,676)
258,869
176,722
20,137
108,729
(37,726)
(8,800)
(133,954)
(82,272)
122,416
181,139
136,187
7,432
(16,170)
56,358
10,977
45,373
(5,978)
63,193
330,241
108,818
22,788
(14,594)
(65,512)
2,493
66,177
14,634
59,697
327,641
130,611
63,628
(166,091)
(55,737)
(17,553)
9,113
(68,419)
61,363
75,180
131,956
(32,999)
(49)
16,706
(21,241)
(62,549)
(46,851)
23,129
82,752
136,583
51,957
14,812
18,141
(12,580)
83,179
8,979
(23,376)
440,487
158,956
14,730
(42,044)
(75,829)
(6,966)
47,948
41,823
(8,360)
378,313
151,015
24,355
1,583
39,220
7,612
(21,754)
(92,810)
16,026
366,677
(140,557)
4,782
(144,623)
3,293
(141,434)
4,340
(109,069)
6,347
(107,638)
4,504
(159,346)
5,085
(150,425)
4,792
(151,840)
4,930
(199,758)
6,768
(182,251)
2,400
(24,115)
(42,174)
(86,749)
(46,107)
(51,640)
(11,766)
(13,036)
(21,312)
(5,608)
(63,872)
28,163
32,191
13,693
20,145
18,895
15,961
29,088
44,134
10,722
8,511
(23,872)
(155,599)
18,963
(132,350)
(4,789)
(214,939)
(5,807)
(134,491)
(9,751)
(145,630)
(6,108)
(156,174)
(24,120)
(153,701)
(6,133)
(130,221)
(10,287)
(198,163)
(20,231)
(255,443)
32,200
(154,250)
50,496
(19,317)
(132)
162
2,107
(88,734)
63,620
(107,017)
(50,530)
(25,758)
(139)
68
－
(119,756)
102,940
(112,021)
122,024
(27,904)
(205)
59
－
84,893
92,711
(106,584)
(146,487)
－
(872)
13
(3,988)
(165,207)
100
(62,248)
(5,114)
(19,315)
(46)
5
(2,610)
(89,228)
138,283
(139,775)
46,630
(27,910)
(20)
2
(10,182)
7,028
57,003
(90,786)
19,237
(23,616)
(16)
2
(2,977)
(41,153)
193
(105,445)
(73,266)
(25,762)
(48)
1
(4,694)
(209,021)
90,598
(103,497)
11,392
(42,936)
(50)
0
(5,130)
(49,623)
110,108
(93,163)
(13,912)
(57,963)
(43)
1
(27,172)
(82,144)
7,829
(15,092)
(26,788)
1,959
(11,834)
(5,920)
18,802
17,923
19,941
(23,437)
38,126
304,514
¥342,640
(8,329)
342,640
¥334,311
24,305
334,311
¥358,616
32,502
358,616
¥391,118
80,949
391,118
¥472,067
(79,886)
472,067
¥392,181
(93,300)
392,181
¥298,881
119,168
298,881
¥418,049
150,468
418,049
¥568,517
5,653
568,517
¥574,170
（営業活動により増加した純キャッシュへの調整）
（有形固定資産減価償却費等）
（法人税等の期間配分調整額）
（受取手形及び売掛金の減少(増加)）
（棚卸資産の減少(増加)）
Decrease (increase) in prepaid expenses and other assets （その他資産の減少(増加)）
Increase (decrease) in trade payables
（支払手形及び買掛金の増加(減少)）
Increase (decrease) in other liabilities
（その他負債の増加(減少)）
Other, net
（その他）
Net cash provided by operating activities
（営業活動により増加した純キャッシュ）
Cash flows from investing activities
2008
（投資活動によるキャッシュ・フロー）
（有形固定資産の取得）
（固定資産売却収入）
（有価証券等の取得（取得現金控除後））
（有価証券の売却収入等）
（その他）
（投資活動に投入した純キャッシュ）
Cash flows from financing activities
（財務活動によるキャッシュ・フロー）
Proceeds from long-term debt
Repayment of long-term debt
Increase (decrease) in bank loans, net
Dividends paid
Purchase of treasury stock
Reissuance of treasury stock
Other, net
Net cash provided by (used in) financing activities
Effect of exchange rate changes on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
（社債及び長期借入金による調達額）
（社債及び長期借入金の返済額）
（短期借入金の増加(減少)）
（配当金の支払）
（自己株式の取得）
（自己株式の処分）
（その他）
（財務活動により増加(減少)した純キャッシュ）
（為替変動によるキャッシュへの影響額）
（現金及び預金等純増加(減少)額）
（現金及び預金等期首残高）
（現金及び預金等期末残高）
*：2016年3月期より、非支配持分控除前当期純利益を当期純利益へ名称変更しています。
- 17 -
CORPORATE INFORMATION
Mitsubishi Electric Corporation
Tokyo Building 2-7-3, Marunouchi,
Chiyoda-ku, Tokyo 100-8310, Japan
Phone : +81 -3- 3218-2391(Corporate Finance Department)
三菱電機株式会社
〒100-8310
東京都千代田区丸の内2-7-3　東京ビル
電話 : (03) 3218-2391（財務部）
Consolidated Subsidiaries
Mitsubishi Electric Building Techno-Service Co.,Ltd.
連結子会社
三菱電機ビルテクノサービス（株）
Mitsubishi Electric Lighting Corporation
三菱電機照明（株）
Mitsubishi Precision Co.,Ltd.
三菱プレシジョン（株）
Mitsubishi Electric Life Service Corporation
三菱電機ライフサービス（株）
Mitsubishi Electric Life Network Corporation
(株）三菱電機ライフネットワーク
The Kodensha Co.,Ltd.
(株）弘電社
Mitsubishi Electric US, Inc
三菱電機ＵＳ社
Mitsubishi Electric Automotive America, Inc.
三菱電機オートモーティブ・アメリカ社
Mitsubishi Electric Power Products, Inc.
三菱電機パワー・プロダクツ社
Mitsubishi Electric(Guangzhou) Compressor Co., Ltd.
三菱電機（広州）圧縮機有限公司
Shanghai Mitsubishi Electric & Shangling Air-Conditioner
and Electric Appliance Co., Ltd.
上海三菱電機上菱空調機電器有限公司
Mitsubishi Elevator Asia Co., Ltd.
三菱エレベーター・アジア社
Mitsubishi Electric Europe B.V.
三菱電機ヨーロッパ社
Mitsubishi Electric Automotive Czech, s.r.o.
三菱電機オートモーティブ・チェコ社
Vincotech Holdings S.a.r.l.
ヴィンコテック・ホールディングス社
Mitsubishi Electric Australia Pty. Ltd.
三菱電機オーストラリア社
等 218社
218 Companies
持分法適用関連会社
38社
Equity Method Affiliated Companies
38 Companies
- 18 -

3位 3位