OREANDA-NEWS. Mitsubishi Electric Corporation announced that the Court of Justice of the European Union on December 19 upheld a ruling by the European General Court regarding the question of Mitsubishi Electric's infringement of EU competition law in respect of sales of gas insulated switchgear (GIS). Mitsubishi Electric had appealed to the Court of Justice of the EU to assert that the European General Court's judgment incorrectly upheld a finding of the EU Commission in July 2011.

Mitsubishi Electric regrets that the Court of Justice of the EU has rejected the assertion that the company did not breach EU competition law in respect of GIS sales. Nevertheless, Mitsubishi Electric will work to ensure legal compliance to avoid any possible infringement going forward.

The judgment will not affect the company's financial forecast for the fiscal year ending March 31, 2014.

Mitsubishi Electric's appeal to the European General Court for a recalculation and reduction of the fine is still pending.