Mitsubishi group consolidates control of Mitsubishi Motors
In a two-day process that finished today, Mitsubishi Motors Corp. (MMC) moved to consolidate control in the hands of
the Mitsubishi group of companies. Prior to the restructuring, MMC listed 10 major shareholders, the majority of whom
were investment banks.
Following the various transactions, which saw J.P. Morgan Securities briefly hold 11.35 percent ownership in MMC, the
only major shareholders remaining are members of the Mitsubishi group: Mitsubishi Heavy Industries, Mitsubishi
Corporation, and The Bank of Tokyo-Mitsubishi. As part of the company's "Revitalization Plan," the Mitsubishi group
plan to increase their stake in MMC to a combined 34 percent by the end of December.
DaimlerChrysler, previously a major shareholder in MMC, sold its stake in November 2005.
[Source: Mitsubishi Motors]
Reader Comments (Page 1 of 1)
Joel A 10:50PM (12/18/2005)
This is going to get interesting. The Mitsubishi group has deep pockets. They'll definitely keep on eye on the Motor division. Maybe this will be a new beginning for the maker of the Eclipse and Evolution.
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Ray 10:50PM (12/18/2005)
I wonder what DCX and JP Morgan know that everyone else don't know. It seems that other Japanese automakers know it too.
Something weird going on in Mitsubishi. Even its Mitsu group don't immediately takeover.
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Mal Fuller 10:50PM (12/18/2005)
Mitsubishi is VERY diverse. For example Three Diamonds brand tuna fish belongs to them!
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number six 10:50PM (12/18/2005)
Daimler-Chrysler were pinheads to not help Mitsu motors when it needed it, and, essentially, lost out on any future collaboration with a good company. Sure, the "next generation" Chrysler medium and compact cars are based on Mitsubishi technology, but where are the Germans going to get the following generation of engineering? They can't tap Hyundai, DCX went behind Hyundai's back in China and "snagged" one of Hyundia's partners there (after being politely asked to keep hands off the new wife, so to speak). So Hyundai (quite rightly) said - hmmm, we don't want Daimler-Chrysler to own 10% of us any longer, thanks very much.
Mitsubishi is probably only 60% likely to survive 2 years, but it's probably got better odds than GM, and about the same odds as Ford.
I wish them well. Perhaps they can cut to the chase and license the Toyota hybrid synergy drive system (as Nissan has) in order to get in on the next "big thing."
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nltankontop 10:50PM (12/18/2005)
I definately agree with #1. Mitsubishi group of companies is immense and even though sales of mitsu motors here in the US have not gotten significantly better the new cars Mitsu will be releasing next year are promising. The elipse spyder and new and totally redesigned outlander should be out next year and that will definately jumpstart their sales. Winter is about to begin and the new eclipse has been selling over 200% more than this time last year. Their concept X looks amazing also and I would love to see it hit production. I would put my money on Mitsu rather than on GM just because of the Mitsubishi's Motors Immense and worldwide parent group of companies.
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Ebm14 10:50PM (12/18/2005)
I think Mitsu will once again rise from the ashes(WWII) and be a strong competitor against the other bigwigs in Japan and abroad. The concept X, Outlander and several other promising models will remind people of the great value and engineering that goes into these cars.
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Axel 10:50PM (12/18/2005)
The Concept X shows MMC can still design amazing cars... the body & interior finally befits their Evo car that the January 2006 Automobile mag says is one of "the six best cars on sale". With MMC's parents deep pockets, engineering that takes a back seat to no other car company in the world, they will more than survive...
http://img214.imageshack.us/img214/7032/mitsubishiconceptx20050295is.jpg
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