Mitsubishi Electric said today it is embarking on a three year restructuring effort in a move aimed at improving the company's profitability.
The company said that as part of the project, any operations that are consistently running at a loss will be "agressively" evaluated during the upcoming financial year and any deemed difficult or impossible to return to profitability will be spun off or shut down by March 2001.
In a statement issued today, Mitsubishi said it would focus on next generation communications infrastructure and digital information devices, creating two separate product divisions to target these sectors. The company also said it would actively pursue alliances in the satellite and wireless communications arenas.
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