Non-consolidated Financial Results
----------------------------------------------------------------------
Net sales:        2,490.6 billion yen (5% increase from the previous
                                       fiscal year)
Operating income:   144.6 billion yen (14% increase from the previous
                                       fiscal year)
Ordinary profit:    134.3 billion yen (2% increase from the previous
                                       fiscal year)
Net income:          77.3 billion yen (86% increase from the previous
                                       fiscal year)

The business environment in fiscal year 2008 saw a continued general underlying strength in the global economy such as in China and Europe, despite, in the latter half of the fiscal year, a stronger sense of stagnation in the United States, while the subprime loan issue lead to globally increased financial uncertainty. The Japanese economy also saw a general underlying strength mainly due to foreign demand, despite a slowed capital investment for construction arising from the revised building standards law.

Meanwhile, the Mitsubishi Electric Group is involved in structural reforms to increase and strengthen profitability under its 'make strong businesses stronger' strategy, as seen in the termination of the mobile handset business and the strategic shift of its resources to other businesses the company plans to strengthen. Mitsubishi Electric also continues to strengthen production and sales systems both in domestic and overseas markets by establishing and reinforcing operating facilities, etc.

In addition, Mitsubishi Electric is involved in company-wide improvement activities like reducing inventory and increasing productivity through Just In Time activities, etc., as well as continuing our cost reducing C-Sigma program. We are also strengthening our competitive edge through human resource investments and by optimizing our human resource structure, etc.

CONSOLIDATED FINANCIAL RESULTS BY BUSINESS SEGMENT

Energy and Electric Systems
Total sales:      1,057.9 billion yen (11% increase from the previous
                                       fiscal year)
Operating income:    68.5 billion yen (19.2 billion yen increase from
                                       the previous fiscal year)

The social infrastructure systems business saw increases in both orders and sales from the previous fiscal year due to expansions in both domestic and abroad electric equipment for rolling stock, as well as increases in our domestic power generation business and overseas transmission/distribution related business.

Despite a decrease in construction for new buildings due to revised building standards law in Japan, the building systems business experienced an increase in both orders and sales from the previous fiscal year, due to increases in domestic elevators and escalators for the retail industry and railroad companies as well as increased orders in China, the Middle East and India.

As a result, total sales for this segment increased 11% from the previous fiscal year, and operating income increased 19.2 billion yen from the previous fiscal year due to increased sales, etc.

Industrial Automation Systems
Total sales:      1,017.5 billion yen (6% increase from the previous
                                       fiscal year)
Operating income:   129.2 billion yen (3.0 billion yen increase from
                                       the previous fiscal year)

Factory automation systems business saw an increase in both orders and sales from the previous fiscal year due to increased capital investments related to flat panel display in Taiwan and South Korea in the latter half of the fiscal year, in addition to domestic demand for industrial machinery and expanding overseas capital investments such as in China.

The automotive equipment business saw an increase in both orders and sales from the previous fiscal year upheld by strong development in global production of Japanese multinational automotive manufacturers.

As a result, total sales for this segment increased by 6% compared to the previous fiscal year. Operating income rose by 3.0 billion yen from the previous fiscal year due to increase in sales, etc.

Information and Communication Systems
Total sales:      644.3 billion yen (6% decrease from the previous
                                     fiscal year)
Operating income:   2.3 billion yen (18.4 billion yen decrease from
                                     the previous fiscal year)

The telecommunications equipment business saw a decrease in both orders and sales from the previous fiscal year due to a decrease in mobile handsets.

The information system service business saw an increase in sales from the previous fiscal year due to expansion in the system integration business, etc.

The electronic systems business saw a decrease in orders from the previous fiscal year, while sales increased from the previous fiscal year due to increases in our electronics business, etc.

As a result, total sales for this segment decreased by 6% compared to the previous fiscal year. Operating income decreased by 18.4 billion yen from the previous fiscal year due to decreased sales in mobile handsets.

Electronic Devices
Total sales:      192.0 billion yen (3% increase from the previous
                                     fiscal year)
Operating income:   9.8 billion yen (2.3 billion yen decrease from the
                                     previous fiscal year)

The semiconductor business saw an increase in both orders and sales from the previous fiscal year due to increases in power modules for consumer use mainly for air conditioners and industrial use as well as red laser diodes for recordable DVD players, etc.

The liquid crystal business saw a decrease in both orders and sales from the previous fiscal year due to a decrease in products for consumer use.

As a result, total sales for this segment increased by 3% from the previous fiscal year. Operating income decreased by 2.3 billion yen from the previous fiscal year due to a fall in liquid crystal prices, etc.

Home Appliances
Total sales:      1,000.2 billion yen (8% increase from the previous
                                       fiscal year)
Operating income:    67.4 billion yen (30.8 billion yen increase from
                                       the previous fiscal year)

The home appliance business saw a 8% increase in sales from the previous fiscal year due to increases in air conditioners and solar power generation systems for the foreign market in addition to electric water heaters, etc. for the domestic market.

Operating income increased by 30.8 billion yen from the previous fiscal year due to increased sales, etc.

Others
Total sales:      660.8 billion yen (5% increase from the previous
                                     fiscal year)
Operating income:  16.9 billion yen (1.7 billion yen increase from the
                                     previous fiscal year)

Sales increased 5% from the previous fiscal year mainly in our affiliated companies involved in material procurement and logistics, etc. Operating income increased by 1.7 billion yen from the previous fiscal year due to increased sales, etc.

Fundamental dividend distribution policy

Our fundamental policy is to comprehensively promote improvement in shareholder profits from the viewpoints of appropriate profit distribution commensurate with earning performance of its respective fiscal year as well as strengthening our financial standing through our internal reserves, with the ultimate goal of improving corporate value.

FY 2008 and FY 2009 dividend

With our financial standing and business performance continuing to improve, we will pay a year-end retained earnings dividend of 7 yen per share for fiscal 2008. Adding the interim dividend of 6 yen per share, the total annual dividend is 13 yen per share. Payment of year-end dividends will start on June 3, 2008. The retained earnings dividend for fiscal 2009 is still undecided.

cf. Fiscal 2007 dividend was 10 yen per share (interim dividend of 4 yen per share and a year-end dividend of 6 yen per share)

FINANCIAL CONDITION (CONSOLIDATED BASIS)

Assets, Liabilities, and Shareholders' Equity

The company's total assets for the fiscal year increased from the end of the previous fiscal year by 32.8 billion yen to 3,485.0 billion yen. This increase is mainly attributable to a 17.6 billion yen increase in trade receivables in response to increased orders and sales.

The balance of outstanding debts and corporate bonds fell by 90.2 billion yen from the balance as of the end of the previous fiscal year to 550.7 billion yen, resulting in a reduction of its ratio against total assets down to 15.8% (an improvement of 2.8 points compared to the end of the previous fiscal year). Trade payables increased by 18.0 billion yen, while reserves for retirement and severance benefits increased by 115.5 billion yen due to falling stock prices, etc. leading to increased amount of shortage in pension reserves, etc.

Shareholders' equity decreased by 27.7 billion yen compared to the same period of the previous fiscal year to 1,031.4 billion yen. The ratio of shareholders' equity to total assets was 29.6%, a 1.1-point decrease compared to the previous fiscal year. While retained earnings increased by 132.2 billion yen owing to a 157.9 billion yen net income despite a dividend payment of 25.7 billion yen, accumulated other comprehensive income decreased by 159.9 billion yen due to a decline in stock prices, etc.

Cash Flow

Cash flows from operating activities for this financial year decreased by 15.7 billion yen compared to the same period of the previous fiscal year to 258.8 billion yen (positive). Investment cash flow decreased by 23.2 billion yen compared to the previous fiscal year to 132.3 billion yen (used) due to decreases in loan receivables, etc. As a result, free cash flow was 126.5 billion yen (positive).

Financial cash flow was 119.7 billion yen (used) due to dividend payment and debt repayment.

Cash Flow related index
                FY '04     FY '05     FY '06     FY '07     FY '08
 ---------------------------------------------------------------------
 Cash Flow to
  interest
  bearing debt
  ratio(1)       4.3 times  4.4 times  2.4 times  2.4 times  2.3 times
 ---------------------------------------------------------------------
 Interest
  coverage
  ratio(2)      17.0 times 17.6 times 31.5 times 28.1 times 26.3 times
 ---------------------------------------------------------------------
(1)balance of outstanding debts and corporate bonds* divided by cash
 flow from operating activities
*Balance of outstanding debts and corporate bonds is the average of
the year-start and year-end balance of outstanding debts and
corporate bonds.

(2)cash flow from operating activities divided by interest paid

CURRENT FORECAST FOR FISCAL 2009

The world economy is expected to show a general sense of stagnation mainly in the first half of the fiscal year due to a slowdown in the United States and Europe, etc. The Japanese economy is also expected to experience a slowdown with decreases in foreign demands as well as increases in material and crude oil prices. Also arising from stronger yen and prolonged effects from the subprime loan issue, etc., increased risk of an economic slowdown does not make us optimistic about our management environments.

In the meantime, the Mitsubishi Electric Group will continue to increase and strengthen profitability in each business segment. In addition, we are committed to implementing various company-wide measures toward improving business performance and financial standing. We will also realize sustainable growth by steadfast growth strategies.

Current forecast for fiscal 2009: consolidated
Net sales                  4,050.0 billion yen (no change from fiscal
                                                2008)
Operating income             268.0 billion yen (no change from fiscal
                                                2008)
Income before income taxes   240.0 billion yen (6% increase from
                                                fiscal 2008)
Net income                   158.0 billion yen (no change from fiscal
                                                2008)

Current forecast for fiscal 2009: non-consolidated
Net sales        2,440.0 billion yen (2% decrease from fiscal 2008)
Operating income   110.0 billion yen (24% decrease from fiscal 2008)
Ordinary profit    110.0 billion yen (18% decrease from fiscal 2008)
Net income          80.0 billion yen (3% increase from fiscal 2008)

MANAGEMENT POLICY

Fundamental Management Policy

Based on its corporate statement "Changes for the Better", the Mitsubishi Electric Group hopes to build a better tomorrow by contributing to the creation of new societies, industries and lifestyles.

Keeping this corporate approach in mind, Mitsubishi Electric will establish a solid business foundation and implement sustainable growth through a three point balanced management of "Growth," "Profitability & Efficiency" and "Soundness".

Mitsubishi Electric will also work to further enhance its corporate value by becoming a conglomerate of highly competitive electric-electronic businesses with a synergistic unity, capable of responding to the expectations of customers, shareholders, and all of our stakeholders.

Management Targets

The Mitsubishi Electric Group has established three management targets that it continuously aims to achieve: an operating income ratio of 5% or more, ROE of 10% or more, and a interest-bearing debt ratio of 15% or less. Business performance for fiscal 2008 achieved the first two of our management targets with an operating profit ratio of 6.6% and an ROE of 15.1%, while the interest-bearing debt ratio, a target revised last year from 20%, improved to 15.8%. The Group will continue efforts to accomplish the management targets for the operating income ratio and the ROE, while aiming at early achievement of the target concerning the interest-bearing debt ratio.

                                               Management Target
----------------------------------------------------------------------
Ratio of operating income to net sales         5% or more
----------------------------------------------------------------------
ROE                                            10% or more
----------------------------------------------------------------------
Ratio of interest-bearing debt to total assets 15% or less
----------------------------------------------------------------------

Corporate Agenda

Based on its three point balanced management of "Growth," "Profitability & Efficiency" and "Soundness", the Mitsubishi Electric Group will continuously improve by strengthening quality, cost competitiveness, and intellectual property as well as productivity, R&D, and sales capabilities. We will also strengthen our two-tiered growth strategy VI(1) strategy, 'making strong businesses stronger', and AD(2) strategy, 'reinforcing solutions businesses centered on strong businesses'. While also restructuring business segments in response to changing business environments, we strive to create a management base that will continue to strengthen and improve our business performance.

Specifically, with an objective of strengthening our integrated "Craftsmanship", we will strengthen our development and productivity in software and hardware, and continue to streamline our productivity with measures like Just In Time production. From the very first stages of design and development, we will strengthen cost reduction activities that respond to material price hikes and exert quality consciousness. We will utilize and best arrange human resources to enhance competitiveness, and engage in activities such as streamlining our human resources structure from a mid- and long-term perspective. We intend to improve our financial standing by further pursuing such measures as inventory reduction. In addition, we will build an optimal business structure and strengthen it both in global terms and for the entire corporate Group. Also, by promoting strategies for environment-related businesses and by further expanding business in emerging markets, etc., we will actively pursue businesses in growing markets. Finally, we will enhance our operational structure to manage various businesses, through integration and coordination among various aspects, including research, development, procurement, production, sales and services, etc.

In addition, we will be committed to enhance Corporate Social Responsibility (CSR) efforts based on the Corporate Mission(3) and Seven Guiding Principles(4). Especially, in terms of legal and ethical compliances, we will intensively implement internal control measures and internal education, etc., as a priority task over the entire consolidated group of Mitsubishi Electric Corporation. We will also promote environmental initiatives to prevent global warming and create a recycling-based society, etc.

Steadily executing the above strategy, the Mitsubishi Electric Group will work to further enhance its corporate value.

(1)VI , the first two letters of 'Victory'

(2)AD, the first two letters of 'Advance'

(3)Corporate Mission: The Mitsubishi Electric Group will continually improve its technologies and services through creativity, and, at the same time, contribute to society.

(4) These principles are:

Trust: Establish relationships with all stakeholders based on strong mutual trust and respect,

Quality: Provide the best products and services with unsurpassed quality,

Technology: Pioneer new markets by promoting research and development,

Citizenship: As a global player, contribute to the development of communities and society as a whole,

Ethics: Honor high ethical standards in all endeavors,

Environment: Respect nature, and strive to protect and improve the global environment,

Growth: Assure fair earnings to build a foundation for future growth.

Cautionary Statement

The expectation of operating results herein and any associated statement to be made orally with respect to the Company's current plans, estimates, strategies and beliefs and any other statements that are not historical facts are forward-looking statements. Words such as "expects", "anticipates", "plans", "believes", "scheduled", "estimated", "targeted" along with any variations of these words and similar expressions are intended to identify forward-looking statements which include but are not limited to projections of revenues, earnings, performance and production. While the statements herein are based on certain assumptions and premises that the Company trusts and considers to be reasonable under the circumstances to the date of announcement, you are requested to kindly take note that actual operating results are subject to change due to any of the factors as contemplated hereunder and/or any additional factor unforeseeable as of the date of this announcement. Such factors materially affecting the expectations expressed herein shall include but are not limited to the following:

(1) Important trends

The Mitsubishi Electric Group's operations may be affected by trends in the global economy, social conditions, laws, tax codes, and regulations.

(2) Foreign currency exchange rates

Fluctuations in foreign currency markets may affect Mitsubishi Electric's sales of exported products and purchases of imported materials that are denominated in U.S. dollars or euros, as well as its Asian production bases' sales of exported products and purchases of imported materials that are denominated in foreign currencies.

(3) Stock markets

A fall in stock market prices may cause Mitsubishi Electric to record devaluation losses on marketable securities, or cause an increase in retirement benefit obligations in accordance with a decline in the fair value of pension assets.

(4) Supply/demand balance for products and procurement conditions for materials and components

A decline in prices and shipments due to changes in the supply/demand balance may adversely affect mainly Mitsubishi Electric's Information and Communication Systems, Electronic Devices, and Home Appliances segments. In addition, an increase in material prices due to a worsening of material and component procurement conditions may adversely affect all of Mitsubishi Electric's operations.

(5) Fund procurement

An increase in interest rates, the yen interest rate in particular, would increase Mitsubishi Electric's interest expenses.

(6) Significant patent matters

Important patent filings, licensing, copyrights and patent-related disputes may adversely affect related businesses.

(7) Environmental matters

We may appropriate funds for losses or increase allowances to respond to regulation trends or outbreaks of issues related to the environment. This may impact manufacturing and all corporate activities of the Mitsubishi Electric Group.

(8) Quality of products and services

We may appropriate funds for losses from defective services or products, and the lowered reputation of the quality of all our products and services may affect the entire Mitsubishi Electric group.

(9) Litigation and other legal proceedings

The Mitsubishi Electric Group's operations may be affected by lawsuits or other legal proceedings against Mitsubishi Electric, its subsidiaries and/or equity-method affiliated companies.

(10) Disruptive changes

Disruptive changes in technology, development of products using new technology, timing of production, and market introduction may adversely affect performance mainly in Mitsubishi Electric's Information and Communication Systems, Electronic Devices, and Home Appliances segments.

(11) Business restructuring

The Mitsubishi Electric Group may record losses due to restructuring measures.

(12) Natural disasters

The Mitsubishi Electric Group's operations, particularly manufacturing activities, may be affected by the occurrence of earthquakes, typhoons, tsunami, fires and other large-scale disasters.

(13) Other significant factors

The Mitsubishi Electric Group's operations may be affected by the outbreak of social or political upheaval due to terrorism, war or other factors.

About Mitsubishi Electric

With over 80 years of experience in providing reliable, high-quality products to both corporate clients and general consumers all over the world, 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. The company recorded consolidated group sales of 4,049.8 billion yen (US$ 40.5 billion*) in the fiscal year ended March 31, 2008. For more information visit http://global.mitsubishielectric.com

*At an exchange rate of 100 yen to the US dollar, the rate given by the Tokyo Foreign Exchange Market on March 31, 2008

SOURCE: Mitsubishi Electric Corporation

Mitsubishi Electric Corporation
Investor Relations Inquiries:
Investor Relations Group
Corporate Finance Division
Tel: +81-3-3218-2391
Cad.Irg@rk.MitsubishiElectric.co.jp
Media Contact:
Yurika Fujimoto, +81-3-3218-3380
Public Relations Division
prd.gnews@nk.MitsubishiElectric.co.jp
http://global.mitsubishielectric.com/news/

"The feedback we've received about the first set of scoreboards was tremendous," said Tom Wade, chief marketing officer for the PGA TOUR, referring to the original Diamond Vision(TM) scoreboards. "We originally planned to have 11 boards on the course, but they have been so popular that we're putting one at almost every hole."

The Diamond Vision(TM) scoreboards bring a new level of interaction and excitement to PGA TOUR tournaments. Thanks to the full-color capabilities of the Mitsubishi Electric scoreboards, fans are treated to animations, personal player profiles including images and action shots, and broadcast-quality graphics just as crisp and brilliant as those seen on Diamond Vision(TM) stadium and arena displays.

"We are always looking for ways to enhance the spectator experience at our tournaments, and the Mitsubishi Electric scoreboards have become a very important element of this initiative," Wade said. "Not only are we extremely pleased with what we already have been able to provide the fans through the scoreboards, we are excited about developing compelling new elements that we can include. The addition of these 11 scoreboards will further our efforts to inform fans about our players and the competition."

About Mitsubishi Electric

Mitsubishi Electric's US operations include nearly a dozen companies that manufacture and market an extensive line of commercial, industrial and consumer electronics products. These include elevators and escalators; heating and air conditioning systems; semiconductor devices; high-definition televisions, home theater and display devices; large-scale data walls and stadium displays; automotive components, electronics and entertainment systems; factory automation equipment, power products, solar panels and other items. For more information visit www.MitsubishiElectric.com.

About the PGA TOUR

The PGA TOUR is a tax-exempt membership organization of professional golfers. Its primary purpose is to provide competitive earnings opportunities for past, current and future members of the PGA TOUR, Champions Tour and Nationwide Tour; to protect the integrity of the game; and to help grow the reach of the game in the U.S. and around the world.

In 2007, the three Tours will compete in approximately 110 events for approximately $340 million in prize money. Tournaments are being held in six countries outside the U.S. and in 36 states.

In addition to providing competitive opportunities for its membership, TOUR events also generate significant funds for local charities. In fact, the three Tours have surpassed the $1 billion mark in overall charitable contributions. The PGA TOUR's web site address is www.pgatour.com and the company is headquartered in Ponte Vedra Beach, FL.

SOURCE: Mitsubishi Electric

Mitsubishi Electric & Electronics USA
Mark S. Scott, 714.220.6896
mark.scott@meus.mea.com
or
PGA TOUR
Chris Smith, 904.273.3379
csmith@pgatourhq.com

Sale Summary
======================================================================
 Product       Model      Features  Sample price Shipment  Production
                                                   date
----------------------------------------------------------------------
Low Noise                NF: 0.45dB              May 26,  4 million /
 GaAs HEMT MGF4935AM (2) Gs: 12.0dB    25 yen      2008       month
                         (f=12GHz)
----------------------------------------------------------------------
2: Suitable for use in first stage of low noise amplifiers for DBS

Aim of Sale

Satellite communication systems can build a much larger service area network in a short time compared to fiber optic cable communication systems or other communication systems. They are expected to be quickly adopted by countries like China, which is experiencing rapid economic growth.

At the same time, when it comes to satellite antennae, a reception converter that receives Ku band waves from satellites converts them into 1-2GHz to send them to the signal processing circuit; HEMTs are used in low noise amplifiers for reception converters, and the increase in satellite communication systems is creating a larger demand for these transistors.

Mitsubishi Electric has developed a full-mold package HEMT with the lowest noise characteristics in the industry. Full-mold package HEMT is lower-priced compared to other types of HEMTs, and it improves cost performance in satellite communication equipment by using this product in the first stage of amplifiers, which strictly requires low noise characteristics.

Product Features

1) Lowest noise characteristics in full-mold package, suitable for use in the first stage of amplifiers

By improving chip performances and by optimizing package structure, the noise figure (NF) has been improved by 0.05dB to 0.45dB, compared to our previous model (full-mold package MGF4934BM). This improvement allows this product to be used in the first stage of amplifiers, which requires low noise characteristics. The full-mold package HEMT, available at a lower price than other HEMTs, improves cost performance in satellite communication equipment.

2) An industry standard 4-pin full-mold package, for shorter development periods for satellite communication equipment manufacturers

The MGF4935AM has an industry standard 4-pin full-mold package. An unchanged foot pattern from the previous model will shorten development periods for satellite communication equipment manufacturers.

Future Developments

Mitsubishi Electric will increase its lineup of full-mold packaged low noise GaAs HEMTs with improvements in gain and noise characteristics.

Features

-- Recommended bias condition: VDS=2V, ID=10mA

-- Noise figure (NFmin.): 0.45dB(f=12GHz, typical)

-- Associated gain (Gs): 12.0dB(f=12GHz, typical)

About Mitsubishi Electric

With over 80 years of experience in providing reliable, high-quality products to both corporate clients and general consumers all over the world, 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. The company recorded consolidated group sales of 4,049.8 billion yen (US$ 40.5 billion(3)) in the fiscal year ended March 31, 2008. For more information visit http://global.mitsubishielectric.com

3: At an exchange rate of 100 yen to the US dollar, the rate given by the Tokyo Foreign Exchange Market on March 31, 2008

SOURCE: Mitsubishi Electric Corporation

Mitsubishi Electric Corporation
Product Inquiries:
Kazuhiko Sato, +81-3-3218-3014
High Frequency & Optical Semiconductor
Global Marketing Department B
Sato.Kazuhiko@aj.MitsubishiElectric.co.jp
http://www.mitsubishichips.com/
Media Contact:
Yurika Fujimoto, +81-3-3218-3380
Public Relations Division
prd.gnews@nk.MitsubishiElectric.co.jp
http://global.mitsubishielectric.com/news/

Moody's said it will focus on Melco's strategy to improve profitability and cash flow over the medium term and examine how the company can continue to improve its financial strength.

As a result of Melco's cutting costs, business strategies to strengthen its product competitiveness, its consolidated operating profit has improved steadily in the past few years, rising to 267.2 billion yen in full year 2007 from 157.7 billion yen two years earlier, Moody's said. TFN.newsdesk@thomson.com jro/kbo/alo

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