OREANDA-NEWS. January 18, 2013. Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it reimbursed a total of 15,436,571,720 yen as refunds for overcharged expenses in the space systems business of its Electronic Systems Group to the Cabinet Satellite Intelligence Center, the Japan Aerospace Exploration Agency and the National Institute of Information and Communications Technology.

Mitsubishi Electric' s suspension from bidding on work for the three entities will be lifted at midnight tonight.

The impact of the reimbursement on the company' s business performance has already been considered in the company' s current consolidated financial results forecast for the current fiscal year ending March 2013, which were announced on December 21, 2012.