We, the Mitsubishi Electric Group, abide by our purpose to contribute to the realisation of a vibrant and sustainable society through continuous technological innovation and ceaseless creativity.

To date, we have striven to realise well-balanced corporate management from the three perspectives of "growth", "profitability/efficiency", and "soundness", but among these perspectives, we have recently begun to focus on business operations with greater emphasis on profitability and asset efficiency. At the same time, we have reaffirmed the realisation of sustainability as the cornerstone of our management by going back to our fundamental principle of "addressing social challenges through our businesses". From this approach, we will pursue sustained enhancement of our corporate value and fulfil our responsibility to society, our customers, shareholders and employees, and all other stakeholders.

Furthermore, by consolidating and analysing data acquired from our customers in a digital space and by creating strong bonds within the Group and putting our heads together, we will evolve our components, systems and integrated solutions and create new value. And to more widely return to our customers the benefits of the new value we thus create, we will transform into a "Circular Digital-Engineering" company and thereby contribute to solving today's diverse social challenges.

At the same time, in response to the series of improper quality control practices, we will steadily pursue three basic areas of reform: quality assurance, organisational culture and governance. We have also installed a committee to monitor these three reforms within the board of directors and established a framework for monitoring and overseeing their progress. We will continue to commit ourselves to reform towards the creation of a new Mitsubishi Electric, deepening and developing the three key areas of reforms aiming to restore trust.

"Changes for the Better" represents our Group's attitude to "always strive to achieve something better", as we continue to change and grow. Each one of us shares a strong will and passion to continuously aim for change, reinforcing our commitment to creating an even better tomorrow.

We would greatly appreciate your continued support going forward.