RNS Number:4637J
Mitsubishi Electric Corporation
1 April 2003


Investor Relations Inquiries:              Media Contact: 
Yasumitsu Kugenuma                         Robert Barz 
Corporate Finance Department               Public Relations Department
Tel: +81-3-3218-2391                       Tel:+81-3-3218-2346 
Yasumitsu.Kugenuma@hq.melco.co.jp          Robert.Barz@hq.melco.co.jp 



                    MITSUBISHI ELECTRIC ANNOUNCES REVISED 
                            FORECAST FOR FISCAL 2003


TOKYO, April 1, 2003 - Mitsubishi Electric Corporation today revised its
original fiscal year 2003 (April 1, 2003 - March 31, 2003) business performance
forecast. The revised forecasts are as follows



                 Revised Consolidated Results Forecast 
            For Fiscal Year 2003 (April, 2002 - March, 2003) 

Consolidated Results

(Compared to original forecast made at the time of the third quarter results
announcement in February, 2003)


                      Net Sales         Income (Loss) 
                                     Before income Taxes     Net Income (Loss)

Revised Forecast (A)     36,500                       10                 (140)
Original Forecast (B)    36,500                      450                   250
Difference (A-B)              0                     -440                  -390
Fiscal 2002 Actual       36,489                  (1,551)                 (779)

                                                         Unit: 100 million yen 
Reasons for Revised Forecast

This year, Mitsubishi Electric has been trying to implement various
administrative and management improvements to strengthen the bottom line by way
of increased profitability, structural business reform, and reduction of fixed
costs and assets. These were intended to achieve the business results as planned
and to improve the financial standing in a relatively short period. As a result,
the net sales & operating income are expected to remain at previous forecasted
levels. However, the pre-tax income is expected to be revised to one billion
Yen, which represents a deterioration of 44 billion Yen from the previous
forecast, due to a collapse in stock valuation of 50 billion Yen, caused mainly
by financial holdings.


The net income forecast is expected to be revised as a net loss of 14 billion
Yen, which represents a deterioration of 39 billion Yen from the previous
forecast because an additional 13 billion Yen was incurred due to the deferred
tax assets reassessment required as a result of the introduction of a new
taxation relying on a proforma tax basis.


                  Revised Non-consolidated Results Forecast 
              For Fiscal Year 2003 (April, 2002 - March, 2003)

Non-consolidated Results

(Compared to original forecast made at the time of the half-year results
announcement in October, 2002)

                         Net Sales    Ordinary Profit (Loss)   Net Income (Loss)

Revised Forecast (A)        23,500                       250               (120)
Original Forecast (B)       24,500                       400                 200
Difference (A-B)            -1,000                      -150                -320
Fiscal 2002 Actual          24,093                   (1,095)             (1,436)

                                                           Unit: 100 million yen

Reasons for Revised Forecast

The previous ordinary profit and net income forecasts are revised this time to
reflect an increased loss of 5 billion Yen incurred due to the deferred tax
assets reassessment required as a result of the introduction of a new taxation
relying on a proforma tax basis, a stock valuation loss of approximately 35
billion Yen, as well as the ongoing sales slump from sluggish capital
expenditures in the private sector and consumer spending.

Dividend

Mitsubishi Electric plans to declare a year-end dividend payment amount or 3 Yen 
as previously announced.



About Mitsubishi Electric

With over 80 years of experience in providing reliable, high-quality products to
both corporate clients and general consumers all over the world, Mitsubishi
Electric Corporation (TSE: 6503) is a recognized world leader in the
manufacture, marketing and sales of electrical and electronic equipment used in
information processing and communications, space development and satellite
communications, consumer electronics, industrial technology, energy,
transportation and building equipment. The company has operations in 35
countries and recorded consolidated group sales of 3,649 billion yen (US$27.4
billion) in the year ended March 31, 2002. 

For more information about Mitsubishi Electric, visit
http://global.mitsubishielectric.com.


Cautionary Statement

The expectation of operating results herein and any associated statement to be
made with respect to Company's current plans, estimates, strategies and beliefs
and any other statements that are not historical facts are forward-looking
statements. Words such as "expects", "anticipates", "plans", "believes",
"scheduled", "estimated", "targeted" along with any variations of these words
and similar expressions are intended to identify forward-looking statements
which include but are not limited to projections of revenues, earnings,
performance and production. While the statements herein are based on certain
assumptions and premises that trusts and considers to be reasonable under the
circumstances to the date of announcement, you are requested to kindly take note
that actual operating results are subject to change due to any of the factors as
contemplated hereunder and/or any additional factor unforeseeable as of the date
of this announcement. 

Such factors materially affecting the expectations expressed herein shall
include but are not limited to the following: (1) Any change in operating
circumstances in any of the markets, in which the Company conducts its business
operation inter alia Japan, the USA and Europe: such change shall include but
not limited to changes in economic situation, political regime, legal system and
legislation, relevant laws and regulations, administrative policies and
practices by any competent authorities, taxation in any of such markets. (2)
Foreign exchange fluctuations, in particular, the rate of Japanese yen against
US Dollar. (3) Relative disproportion between demand and supply of any products
that may affect price and volume, which could be highly intrusive in such fields
like information, telecommunication, electronic devices and home appliances,
without limitation thereto. (4) Shortage of any devices, components and/or parts
necessary for manufacturing operation and difficulties in material procurement
arising out of such shortage, which could even lead to substantial disconformity 
with the operating results as expected herein.  Also this factor could be highly
intrusive in such fields as information, telecommunication, electronic devices
and home appliances, without limitation thereto. (5) Any change in technical and
technological trends that may be relevant to businesses of the Company,
including but not limited to IT-based or IT-related fields. (6) Any patent and
its licensing that may be granted from time to time and may affect businesses of
the Company. (7) Any development of products incorporating new technological
innovation and the time of their introduction in the marketplace. (8) Any
business alliances of any nature whatsoever, including but not limited to joint
ventures, business transfers, mergers, acquisitions, capital contributions,
technical licensing or co-development. (9) Any change in fund raising or
procurement, inter alia in the Japanese financial market. (10) Any fluctuation
in stock quotations at any relevant markets including securities exchanges and
over-the counter stock markets, inter alia in Japan.




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