TOKYO (Standard & Poor's) Dec. 27, 2001--Standard & Poor's today affirmed its 'A-2' short-term rating on Mitsubishi Electric Corp., and removed the rating from CreditWatch, where it was placed on Sep. 25, 2001. The affirmation reflects our expectation that Mitsubishi Electric's diversified business profile and relatively stable operating performance in areas such as energy and electric systems, industrial automation systems, satellite communication systems, and home appliances, should continue to mitigate its weak operating performance in electronic devices and information and telecommunications systems. Compared to its peers, Mitsubishi Electric has a relatively low exposure to the electronic devices business, in particular commodity-type memory chip production, which has been the main cause of losses at Japan's integrated electronics manufactures, including Mitsubishi Electric.
