TOKYO, March 8, 2024 - Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it ranked fourth globally and first among Japanese companies in terms of international patent applications filed in 2023 according to the Switzerland-based World Intellectual Property Organization (WIPO).^* A high level of both ranking and the number of patent applications reflect Mitsubishi Electric's strategy to actively promote international patent applicants along with the globalization of its business. In 2023, the company has ranked within the top five global companies in international patent applications by company for ten consecutive years since 2014, and first among all Japanese companies for nine consecutive years.

Mitsubishi Electric, which strategically positions intellectual property (IP) as a crucial business resource for its future growth and development, carefully aligns IP activities with the company's business and R&D strategies. In October 2021, the company launched "Open Technology Bank^® activities" to promote external collaboration to realize a sustainable future by leveraging IP.

Going forward, Mitsubishi Electric will continue strengthening its IP activities to address social challenges and deliver new value towards sustainability through our business. For more information, please visit - https://www.MitsubishiElectric.com/en/about/rd/ip/

* Global forum for intellectual property (IP) services, policy, information and cooperation