FOR IMMEDIATE RELEASE No. 3651

TOKYO, December 7, 2023 - Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it has set the terms and conditions for issuing its first corporate green bonds in the Japanese market, as initially announced in a news release on November 10.¹ The proceeds from the bonds will be used to construct a silicon-carbide (SiC) power semiconductor plant and upgrade related facilities.²

Mitsubishi Electric has positioned sustainability as a cornerstone of its overall business, including initiatives to address climate change and other pressing issues facing modern society. This commitment to sustainability is reflected in the company's Environmental Sustainability Vision 2050³ and Environmental Declaration to "protect the air, land, and water with our hearts and technologies to sustain a better future for all." Mitsubishi Electric has set a goal to aim for net zero greenhouse gas emissions from factories and offices by FY2031 and net-zero greenhouse gas emissions in its entire value chain by FY2051, and is striving to create and expand businesses that contribute to carbon neutrality.

In light of the company's active sustainability initiatives, 41 investors have announced their intention to invest in Mitsubishi Electric's first green bonds.

Going forward, Mitsubishi Electric expects to accelerate efforts to contribute to the achievement of sustainable development goals (SDGs) in society for greater sustainability.

1. 1Announcement on November 10, 2023
   https://www.MitsubishiElectric.com/sites/news/2023/pdf/1110.pdf
2. 2Announcement on March 14, 2023
   https://www.MitsubishiElectric.com/sites/news/2023/pdf/0314-b.pdf
3. 3Environmental Sustainability Vision 2050
   https://www.MitsubishiElectric.com/en/sustainability/environment/ev2050/

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