Our ratings on Japan-based diversified electronics maker Mitsubishi Electric Corp. reflect Standard&Poor's Ratings Services' assessment of the company's "strong" business risk profile and "modest" financial risk profile. Mitsubishi Electric is Japan's third-largest diversified electronics manufacturer, after Hitachi Ltd. and Toshiba Corp. The company has strong global competitiveness in its mainstay industrial automation systems business, which includes factory automation products and systems, and in its energy and electric systems business, which includes power plant, building, and transportation systems. Even though Japanese consumer electronics makers continue to suffer a dramatic decline in their earnings and financial positions as the profits from their flat-panel TV businesses and mobile handset and digital product businesses deteriorate drastically, Mitsubishi Electric has curtailed and concentrated
