Mon, 30 Jan 2012 07:31:04 GMT
Mitsubishi Electric plunges on a ban for government orders
Mitsubishi Electric Corp. dropped to 10-month record low after Japanese officials prohibited competitive tendering for State orders as company overcharged for several aerospace and defence contracts. Mitsubishi Electric fell 15% on Monday and traded at ¥666, the lowest value since March 15. Government has banned
Mitsubishi Electric from entering bids until the company gives back money and introduces preventive actions.