OREANDA-NEWS. June 28, 2012. Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it received a revised decision from the European Commission on June 27 that recalculates the fines in an ongoing case before the European courts regarding alleged infringement of EU competition law in respect of sales of gas insulated switchgear (GIS).

Although Mitsubishi Electric has only received a partial text of the decision and is therefore not yet able to review the full decision in detail, it can confirm that the Commission has revised the original calculation, which was annulled by a European General Court judgment on July 12, 2011. The recalculation sets the fine to be imposed solely on Mitsubishi Electric at 74,817,000 euros, while another fine to be borne jointly with Toshiba Corporation remains at 4,650,000 euros.

Mitsubishi Electric will carefully review the decision before deciding on its future actions.