|By Business Wire||
|March 11, 2014 10:00 PM EDT||
Mitsubishi Electric Corporation (TOKYO: 6503) announced today that the Mitsubishi Electric SOCIO-ROOTS Fund, a charitable undertaking in which the company matches employee donations, has surpassed one billion yen, or about 10 million USD, in cumulative donations over the 22-year life of the fund.
The Mitsubishi Electric SOCIO-ROOTS Fund, the company’s signature initiative in the field of social welfare, was established in 1992 as one of Japan’s first matching funds. Open to all company personnel in Japan, it has encouraged employees nationwide to help support activities rooted in local communities. To date, the fund has made donations to some 1,650 social welfare facilities and programs.
The fund’s contributions to recovery initiatives following the 2011 Great East Japan Earthquake include ongoing donations to organizations that are funding scholarships and providing mental health services for orphans and other children. The fund will donate 30 million yen to support such children and nearly 38.6 million yen to social welfare facilities in the fiscal year ending March 2014.
About Mitsubishi Electric Corporation
With over 90 years of experience in providing reliable, high-quality products, Mitsubishi Electric Corporation (TOKYO: 6503) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. Embracing the spirit of its corporate statement, Changes for the Better, and its environmental statement, Eco Changes, Mitsubishi Electric endeavors to be a global, leading green company, enriching society with technology. The company recorded consolidated group sales of 3,567.1 billion yen (US$ 37.9 billion*) in the fiscal year ended March 31, 2013. For more information visit http://www.MitsubishiElectric.com
*At an exchange rate of 94 yen to the US dollar, the rate given by the Tokyo Foreign Exchange Market on March 31, 2013