Our 'A' rating on Japan-based diversified electronics maker Mitsubishi Electric Corp. (A/Stable/A-1) reflects Standard&Poor's Ratings Services' assessment of the company's business risk profile as strong and its financial risk profile as modest. Mitsubishi Electric is Japan's third-largest diversified electronics company after Hitachi Ltd. (BBB+/Positive/A-2) and Toshiba Corp. (BBB/Stable/A-2). The company features strong and global competitiveness in its mainstay industrial automation systems business, which includes factory automation products and systems, and its energy and electric systems business, which includes power plant, building, and transportation systems. Mitsubishi Electric's earnings in fiscal 2011 (ended March 31, 2012) were mostly unchanged from a year earlier and remained stable; other consumer electronics manufacturers in Japan saw their earnings and finances falter dramatically because
