OREANDA-NEWS.  February 3, 2012. Mitsubishi Electric (TOKYO: 6503) received notice today from The National Institute of Information and Communications Technology (NICT) that the company has been suspended effective immediately from participating in further bidding for a period of between one and 18 months, until full details of the company's improper charging of expenses to the NICT are revealed and remedial measures are put in place by the company.

 NICT ordered Mitsubishi Electric to investigate matters relating to certain contracts with NICT on January 27, the same day that the company issued the announcement "Mitsubishi Electric Comments on Overcharged Expenses to Japan's Ministry of Defense, Cabinet Satellite Intelligence Center and Japan Aerospace Exploration Agency." Mitsubishi Electric's subsequent internal investigation revealed that it had improperly charged NICT by shifting work records among different projects. After the company notified NICT of these facts today, it received the notice of suspension from NICT biddings.