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 Continuing establishment of overseas business infrastructure Slightly lower profitability than major overseas competitors, made somewhat more volatile by exposure to the cyclical industrial automation systems business Increasingly stable cash flow Lower capital expenditures than domestic peer companies, owing to successful business restructuring Stable financing The positive outlook reflects our view that Mitsubishi Electric Corp.'s EBITDA margin is likely to improve moderately in the next one to two years and that at the same time key credit ratios are likely to remain commensurate with the ratings. Standard&Poor's Ratings
