We derive our 'A' long-term corporate credit rating on Mitsubishi Electric Corp. from: The 'a' anchor for Mitsubishi Electric, which we base on our assessment of the company's business risk profile as "strong" and its financial risk profile as "modest." Our setting of the anchor at 'a' instead of 'a+', reflecting our assessment that Mitsubishi Electric's profitability is relatively weak among global peers and somewhat more volatile as a result of exposure to the cyclical industrial automation systems business. All modifiers having no impact. Strong global competitiveness of mainstay industrial automation systems business and energy and electric systems business Competitiveness in home appliances, power semiconductors, and information and communication systems, primarily in the domestic market Relatively stable profitability and lower
