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Mitsubishi Electric Selected as Representative Organization for JAXA's Space Strategy Fund to Develop Solar Cells and Related Components for Satellites

1. Mitsubishi Electric partners with JAXA to develop solar cells for satellites. 2. New solar arrays aim to reduce costs and increase domestic supply. 3. Increased demand noted for satellite solar cells due to market expansion. 4. Project targets mass production of low-cost components for the satellite market. 5. Collaboration will strengthen Japan's satellite supply chain and lower prices.

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FAQ

Why Bullish?

The collaboration with JAXA positions Mitsubishi Electric advantageously in the growing satellite market, likely enhancing revenue and improving margins similar to past successful projects like the space system contracts, which led to price appreciation. Additionally, developing low-cost solar technology may attract new clients and bolster Mitsubishi Electric's competitive edge.

How important is it?

The announcement solidifies Mitsubishi Electric's role in the satellite market, indicating potential growth avenues and financial performance improvement. This partnership is also likely to be watched closely by investors, thus affecting market sentiment significantly.

Why Long Term?

As the satellite market continues to grow, the benefits from this partnership will take time to materialize in the company's financials, similar to the effects seen with other technological collaborations, which can develop over multiple quarters or years before reflecting in stock performance.

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Will help strengthen Japan's satellite supply chain through lower prices and increased supply

Mitsubishi Electric Corporation (TYO:6503) announced today it has been selected as a representative organization for the technology development titled "Development of Domestic Solar Cells, Cover Glass, and Solar Arrays" under the "Development/Verification of Parts/Components for the Establishment of Satellite Supply Chain," one of the technology development themes included in the 1st Phase of the Space Strategy Fund operated by the Japan Aerospace Exploration Agency (JAXA). The company has signed a contract with JAXA covering this development.

In recent years, with the expansion of the satellite market, including low earth orbit satellite constellations, the demand for solar cells onboard satellites and cover glass to protect solar cells from space radiation has increased, and a global supply shortage has caused high prices and long delivery times.

As part of this project, Mitsubishi Electric will develop low-cost, mass-producible solar cells in collaboration with domestic suppliers who have expertise in the solar cell field. In addition, the company will verify the applicability of glass used for ground-based products to the space environment and work toward the mass production of low-cost cover glass. Furthermore, Mitsubishi Electric will develop new solar arrays incorporating the new solar cells and cover glass, aiming to enable smoothly integrated domestic production of these. The company will help to strengthen the domestic satellite supply chain by reducing the cost of solar arrays and their components and strengthening supply capabilities.

For the full text, please visit: www.MitsubishiElectric.com/news/

Customer Inquiries

Space Systems Division

Defense & Space Systems Group

Mitsubishi Electric Corporation

www.MitsubishiElectric.com/bu/space/

Media Inquiries

Takeyoshi Komatsu

Public Relations Division

Mitsubishi Electric Corporation

Tel: +81-3-3218-2332

prd.gnews@nk.MitsubishiElectric.co.jp

www.MitsubishiElectric.com/en/pr/

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