First Eagle Comments on Mitsubishi Electric

Guru stock highlight

Jul 27, 2021

Summary

The stock was a top detractor.

Mitsubishi Electric’s (TSE:6503, Financial) CEO resigned after the Japanese electronics conglomerate revealed that it had fabricated tests on train air conditioning systems and certain other products going back to 1985. The company said that while the falsified inspection data breached customer contracts, it broke no laws and the associated equipment posed no safety risks to users. A full report from the company on this issue is expected in September.

From the First Eagle Investment (Trades, Portfolio) Overseas Fund's second-quarter 2021 commentary.

Disclosures

I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours. Click for the complete disclosure

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