NationMaster - Encyclopedia: Mitsubishi Motors Corporation

Mitsubishi Motors Corporation (三菱自動車工業株式会社 Mitsubishi Jidōsha Kōgyō Kabushiki Kaisha^?) is the fourth largest auto-manufacturer in Japan, and in 2006 was ranked 782nd on Forbes' list of the 2000 largest public companies.^[1] It is part of the Mitsubishi keiretsu, formerly the largest industrial group in Japan. Mitsubishi Motors Logo, claiming fair use This work is copyrighted. ... A public company is a company owned by the public rather than by a relatively few individuals. ... The Tokyo Stock Exchange (æ±äº¬è¨¼åˆ¸å–å¼•æ‰€ TÅkyÅ ShÅken Torihikijo, abbreviated TSE) is the worlds second-largest stock exchange market. ... April 22 is the 112th day of the year in the Gregorian calendar (113th in leap years). ... 1970 (MCMLXX) was a common year starting on Thursday (the link is to a full 1970 calendar). ... Minato (港区; -ku) is a special ward located in Tokyo, Japan. ... This article or section does not cite its references or sources. ... This article or section does not cite its references or sources. ... Light truck is a vehicle classification generally used by the United States government for regulating fuel economy and safety. ... To meet Wikipedias quality standards, this article or section may require cleanup. ... Net income is equal to the income that a firm has after subtracting costs and expenses from the total revenue. ... Employment is a contract between two parties, one being the employer and the other being the employee. ... This page as shown in the aol 9. ... Disambiguation: For the Boston Brahmin family of John Forbes Kerry, see Forbes family. ... The Forbes Global 2000 is a ranking of the top 2000 public corporations in the world based on a balanced mix of four metrics. ... Mitsubishi Logo The Mitsubishi Group ), Mitsubishi Group of Companies, or Mitsubishi Companies, all refer to a large grouping of independently operated Japanese companies which share the Mitsubishi brand name. ... A keiretsu lit. ...

Background

Early history

Mitsubishi's automotive origins date back as far as 1917, when the Mitsubishi Shipbuilding Co. Ltd. introduced the Mitsubishi Model A, Japan's first series-production automobile. An entirely hand-built seven-seater sedan based on the Fiat Tipo 3, it proved expensive compared to its American and European mass-produced rivals, and production was discontinued in 1921 after only 22 had been built. Image File history File links Mitsubishi_model_a. ... The Model A was Mitsubishis first car, and also the first series production automobile manufactured in Japan. ... A Ford Taurus, a recognizable sedan. ... FIAT Group, or Fiat S.p. ...

Meanwhile, in 1920, the Mitsubishi Internal Combustion Engine Co., Ltd. was established to manufacture aircraft engines. It was renamed the Mitsubishi Aircraft Co. in 1928, before being merged with Mitsubishi Shipbuilding in 1934 to create Mitsubishi Heavy Industries (MHI). Mitsubishi Heavy Industries, Ltd (MHI) (ä¸‰è±é‡å·¥æ¥, Mitsubishi JÅ«kÅgyÅ) TYO: 7011 is a Japanese company. ...

Post-war years

At the end of the Second World War, the zaibatsu (Japan's family-controlled industrial conglomerates) were dismantled by order of the Allied powers and Mitsubishi Heavy Industries was split into three regional companies, each with an involvement in motor vehicle development. The country's major need at this time was for commercial vehicles, the situation being further complicated during the first few years by a severe fuel shortage. Passenger vehicle production was confined primarily to Mitsubishi's first scooter. Combatants Allies: Poland, British Commonwealth, France/Free France, Soviet Union, United States, China, and others Axis Powers: Germany, Italy, Japan, and others Casualties Military dead: 17 million Civilian dead: 33 million Total dead: 50 million Military dead: 8 million Civilian dead: 4 million Total dead: 12 million World War II... Zaibatsu lit. ... The group of countries known as the Allies of World War II consisted of those nations opposed to the Axis Powers during the Second World War. ... A motor scooter is a motorcycle with a step-through frame in which the rider sits without straddling any part of the engine. ...

By the beginning of the 1960s, however, Japan's economy was gearing up: wages were rising and the idea of family motoring was taking off. The Mitsubishi 500, a mass market sedan, was introduced to meet this demand, followed in 1962 by the Minica four-seater subcompact car, and the Colt family car. The three regional automotive companies were reintegrated as Mitsubishi Heavy Industries in 1964, and within three years their output was over 75,000 vehicles annually. Following the successful introduction of the first Galant in 1969 and similar growth with its commercial vehicle division, it was decided that the company should create a single operation to focus on the automotive industry. Mitsubishi Motors Corporation (MMC) was formed in 1970 as a wholly-owned subsiduary of MHI under the chairmanship of Tomio Kubo, a successful engineer from the aircraft division. // Overview The Mitsubishi 500 was the first passenger car produced by Mitsubishi Motors Corporation after the Second World War. ... A Ford Taurus, a recognizable sedan. ... The Minica is a Japanese keicar model with a long history, first introduced in October, 1962 by Mitsubishi Motors as a two door sedan with a front mounted two cylinder two cycle air cooled 359 cc engine driving the rear wheels, a transverse leaf spring in front and rigid axle... The Nash Metropolitan of the 1950s was an early subcompact car. ... 1999 Mitsubishi Colt Colt was a name used as an export marque by the Mitsubishi Motors Corporation of Japan. ... The Mitsubishi Galant is a mid-size automobile manufactured by the Mitsubishi Motors Corporation. ...

Chrysler connection

1970s

Part of Kubo's expansion strategy was to increase exports by forging alliances with well-established foreign companies. Therefore, in 1971 MHI sold US automotive giant Chrysler a 15% share in the new company. Thanks to this deal, Chrysler began selling rebadged Galants in the United States as Dodge Colts, pushing MMC's annual production beyond 250,000 vehicles. Motto: (1789 to 1956) (Latin for Out of many, one) In God We Trust (1956 to present) Anthem: The Star-Spangled Banner Capital Washington, D.C. Largest city New York City Official language(s) None at federal level; English de facto Government Federal Republic - â€¢ President George W. Bush (R) - â€¢ Vice... The Chrysler Corporation is a United States-based automobile manufacturer, since 1998 merged with Daimler_Benz into DaimlerChrysler. ... The Dodge Colt and the similar Plymouth Champ and Plymouth Colt, were compact cars sold by Dodge and Plymouth from 1970 to 1994. ...

By 1977, a network of "Colt" distribution and sales dealerships had been established across Europe, as Mitsubishi sought to begin selling vehicles directly. Annual production had by now grown from 500,000 vehicles in 1973 to 965,000 in 1978. However, this expansion was beginning to cause friction; Chrysler saw their overseas markets for subcompacts as being directly encroached by their Japanese partners, while MMC felt the Americans were demanding too much say in their corporate decisions. The Nash Metropolitan of the 1950s was an early subcompact car. ...

1980s & MMAL

Mitsubishi finally achieved annual production of one million cars in 1980, but by this time its ally was not so healthy; As part of its battle to avoid bankruptcy, Chrysler was forced to sell its Australian manufacturing division to MMC that year. The new Japanese owners renamed it Mitsubishi Motors Australia Ltd (MMAL), and since then it has stood as the largest car production facility in the country outside of Ford and General Motors. It currently builds the Mitsubishi 380, as well as importing Chryslers and Jeeps from the US. However, recent troubles in this market, coupled with its parent company's financial difficulties, have put its long-term future in jeopardy. The examples and perspective in this article or section may not represent a worldwide view. ... Mitsubishi Motors Australia Ltd. ... The Ford Motor Company (usually called Ford; sometimes called FoMoCo), (NYSE: F) is a multinational corporation that manufactures automobiles. ... General Motors Corporation, also known as GM, is an American automobile maker with worldwide operations and brands including Buick, Cadillac, Chevrolet, GMC, Holden, Hummer, Opel, Pontiac, Saturn, Saab and Vauxhall. ... The Mitsubishi 380 now known as Mitsubishi 380 Series II is the failed successor to the Mitsubishi Magna/Verada line of vehicles. ... Jeep is an automobile marque (and registered trademark) of DaimlerChrysler. ...

In 1982, the Mitsubishi brand was introduced to the American market for the first time. The Tredia sedan, and the Cordia and Starion coupés, were initially sold through 70 dealers in 22 states, with an allocation of 30,000 vehicles between them. This quota, restricted by mutual agreement between the two countries' governments, had to be included among the 120,000 cars earmarked for Chrysler. Toward the end of the 1980s, as MMC initiated a major push to increase its US presence, it aired its first national television advertising campaign, and made plans to increase its dealer network to 340 dealers. By 1989, Mitsubishi's worldwide production, including its overseas affiliates, reached 1.5 million units. The Tredia was a compact sedan built by Mitsubishi Motors Corporation (MMC) from 1982 to 1990, and was one of the first cars imported and sold to America by the company without the involvement of its then partner, the Chrysler Corporation. ... A Ford Taurus, a recognizable sedan. ... The Cordia was a compact coupÃ© built by Mitsubishi Motors Corporation (MMC) from 1982 to 1990, and was one of the first cars imported and sold to America by the company without the involvement of its then partner, the Chrysler Corporation. ... The Mitsubishi Starion was a three-door, turbocharged four-cylinder rear wheel drive five-seat sports car that was in production from 1982 to 1990 in various locations around the world. ... 1995 Buick Riviera coupÃ© 1990 Mercedes-Benz 560SEC coupÃ©, noted for its large, angular design A coupÃ© (from the French for cut) or coupe is a car body style with a close-coupled interior offering either two seats or 2+2 seating (space for two passengers up front and for...

Diamond Star Motors

Despite the ongoing tensions between Chrysler and Mitsubishi, they agreed to unite in a vehicle manufacturing operation in Normal, Illinois. The 50/50 venture provided a way to circumvent the voluntary import restrictions, while providing a new line of compact and subcompact cars for Chrysler. Diamond Star Motors (DSM) - from the parent companies' logos: three diamonds (Mitsubishi) and a pentastar (Chrysler) - was incorporated in October 1985, and in April 1986 ground was broken on a 1.9 million square-foot (177,000 m²) production facility. In 1987, the company was selling 67,000 cars a year in the United States, but when the plant was completed in March 1988 it offered an annual capacity of 240,000 vehicles. Initially, three platform-sharing compact 2+2 coupés were released, the Mitsubishi Eclipse, Eagle Talon and Plymouth Laser, with other models being introduced in subsequent years. Image File history File links Mmna_aerial. ... Normal is an incorporated town located in McLean County, Illinois. ... The Rambler American introduced in the late 1950s was an early compact car. ... The Nash Metropolitan of the 1950s was an early subcompact car. ... Diamond Star Motors (commonly abbreviated to DSM) was a vehicle manufacturing division jointly owned by the Chrysler Corporation and the Mitsubishi Motors Corporation. ... The Mitsubishi Eclipse is a two-door, four-seat sports car that has been in production since 1989. ... The Eagle Talon is a sports car sold by the Eagle division of Chrysler. ... 3 Plymouth Lasers, showing an all around view 1992-1994 Plymouth Laser 1992-1994 Plymouth Laser rear view The Plymouth Laser was a sports coupe made by Diamond Star Motors. ...

In 1991, Chrysler sold its equity stake to its partner, and from then on they continued to share components and manufacturing on a contractual basis only. DSM was officially renamed to Mitsubishi Motor Manufacturing of America, Inc. (MMNA) on July 1st, 1995. July 1 is the 182nd day of the year (183rd in leap years) in the Gregorian Calendar, with 183 days remaining. ... 1995 (MCMXCV) was a common year starting on Sunday of the Gregorian calendar. ...

1988 IPO

Mitsubishi Motors went public in 1988, ending its status as the only one of Japan's eleven auto manufacturers to be privately held. Mitsubishi Heavy Industries agreed to reduce its share to 25%, retaining its position as largest single stockholder. Chrysler meanwhile increased its holding to over 20%. The capital raised by this initial offering enabled Mitsubishi to pay off part of its debts, as well as to expand its investments throughout south-east Asia where it was by now operating in the Philippines, Malaysia, and Thailand. World map showing the location of Asia. ...

1990s

Hirokazu Nakamura became president of Mitsubishi in 1989 and steered the company in some promising directions. Sales of the company's new Mitsubishi Pajero were bucking conventional wisdom by becoming popular even in the crowded streets of Japan. Although sales of SUVs and light trucks were booming in the United States, Japan's car manufacturers dismissed the idea that such a trend could occur in their own country. Nakamura, however, increased the budget for sport utility product development, and his gamble paid off; Mitsubishi's wide line of four-wheel drive vehicles, ranging from the Pajero Mini to the large Delica Space Gear, rode a wave of SUV-buying in Japan in the early to mid-1990s. Narrowly following Toyota in the SUV market in Japan, Mitsubishi saw its overall domestic share rise to 11.6% in 1995. Mitsubishi Logo The Mitsubishi Group ), Mitsubishi Group of Companies, or Mitsubishi Companies, all refer to a large grouping of independently operated Japanese companies which share the Mitsubishi brand name. ... The Jeep Wrangler is a 4WD vehicle with a transfer case to select low range or high range 4WD. The Lamborghini MurciÃ©lago is a 4WD/AWD that powers the front via a VCU if the rear slips. ... The Minica is a Japanese keicar model with a long history, first introduced in October, 1962 by Mitsubishi Motors as a two door sedan with a front mounted two cylinder two cycle air cooled 359 cc engine driving the rear wheels, a transverse leaf spring in front and rigid axle...

After decreasing its interest in Mitsubishi to less than 3% in 1992, Chrysler announced its decision to sell off all of its remaining Mitsubishi shares on the open market in 1993. The two companies stated that they would nevertheless continue their close alliance, with Chrysler supplying engines and transmissions for DSM, and Mitsubishi marketing Chrysler products in Japan.

Other international alliances

Colt & Lonsdale

The Colt name appears frequently in Mitsubishi's history since its introduction as a rear-engined 600cc sedan in the early 1960s. Today, it most commonly refers to the Mitsubishi Colt subcompact in the company's line-up, but is also the name of MMC's import/distribution company in the United Kingdom, established in 1974. For the first decade of its existence, before Far Eastern auto manufacturers had established their reputations, its cars carried the "Colt" badge in Britain instead of "Mitsubishi". A Ford Taurus, a recognizable sedan. ... 1999 Mitsubishi Colt Colt was a name used as an export marque by the Mitsubishi Motors Corporation of Japan. ...

In 1982 & '83, Mitsubishi introduced the Australian-built Chrysler Sigma to the UK as the Lonsdale Sigma in an attempt to circumvent British import quotas, but the new brand was unsuccessful. It then carried Mitsubishi Sigma badges in 1983-84 before abandoning this operation entirely. The Mitsubishi Galant is a mid-size automobile manufactured by the Mitsubishi Motors Corporation. ...

Hyundai

Hyundai of South Korea, now one of the most successful Tiger economy auto-makers, built the Hyundai Pony in 1975 using MMC's Saturn engine and transmissions. Korea's first car, it remained in production for thirteen years. Mitsubishi held up to a 6.7% stake in the company until disposing of its remaining shares in March 2003.^[2] The Hyundai Motor Company (HMC) (KSE: 005380)(LSE: HYUD), a division of the Hyundai Kia Automotive Group, is South Koreas largest car maker. ... A tiger economy is a name given to a country which undergoes rapid economic growth and usually an accompanying increase in standard of living. ... The Hyundai Pony (Hangul: í˜„ëŒ€ í¬ë‹ˆ), was a small rear wheel drive automobile produced by the Hyundai Motor Company from 1975 to 1988. ... The Mitsubishi Saturn is series of straight-4 internal combustion engines, along with the Astron, Orion, and Sirius. ...

Proton

Proton of Malaysia was even more dependent on the Japanese company, initially only assembling their 1985 Proton Saga using MMC components at a newly established facility in Shah Alam. Subsequent models like the Wira and Perdana were based on the Lancer/Colt and Galant/Eterna respectively, before the company finally produced an entirely self-developed vehicle with 2001's Waja. At its peak, this joint venture controlled 75% of its domestic market, although Mitsubishi ended their 22-year partnership in 2005, selling their 7.9% stake for RM384 million.^[3] The Proton logo Proton, short for Perusahaan Otomobil Nasional (Malay for National Automobile Enterprise), is Malaysias first car manufacturer initiated in 1983 by then-Malaysias Prime Minister Mahathir Mohamad. ... The Proton Saga is the first car produced by Malaysian auto manufacturer Proton, based on the 1983 Mitsubishi Lancer Fiore. ... The state mosque in Shah Alam. ... Proton The Proton (Perusahaan Otomobil Nasional Sdn Bhd) company, Malaysia, produced the following car models. ... Proton The Proton (Perusahaan Otomobil Nasional Sdn Bhd) company, Malaysia, produced the following car models. ... To meet Wikipedias quality standards, this article or section may require cleanup. ... 1999 Mitsubishi Colt Colt was a name used as an export marque by the Mitsubishi Motors Corporation of Japan. ... The Mitsubishi Galant is a mid-size automobile manufactured by the Mitsubishi Motors Corporation. ... Proton The Proton (Perusahaan Otomobil Nasional Sdn Bhd) company, Malaysia, produced the following car models. ... The ringgit (unofficially known as the Malaysian dollar), is the official monetary unit of Malaysia. ...

Going Dutch with Volvo

Mitsubishi participated in a joint venture with rival truck-maker Volvo and the Dutch government at the former DAF plant in Born in 1991. The operation, branded NedCar, began producing the first generation Mitsubishi Carisma alongside the Volvo S40/V40 in 1996. Image File history File links Nedcar. ... AB Volvo (or Aktiebolaget Volvo) is a world-leading Swedish manufacturer of commercial vehicles, buses and construction equipment, drive systems for marine and industrial applications, aerospace components and services. ... DAF is a Dutch automobile company, with its main offices in Eindhoven. ... Sittard-Geleen is a municipality in the southeastern Netherlands. ... NedCar is the only automobile producer in The Netherlands. ... The Mitsubishi Carisma was an automobile built for the European midsize segment from 1995 to 2004. ... The S40 sedan (and V40 and V50 station wagons) is a compact car sold by Volvo Cars. ...

The Dutch government sold out to its partners in 1999 and Volvo, by now owned by Ford, sold its stake to Mitsubishi in early 2001 to leave the Japanese company as the only remaining shareholder. The Ford Motor Company (usually called Ford; sometimes called FoMoCo), (NYSE: F) is a multinational corporation that manufactures automobiles. ...

The factory currently produces the latest Mitsubishi Colt and Smart Forfour superminis, although DaimlerChrysler has cancelled production of the Smart and recent output has been declining. With mass layoffs confirmed for 2007 and no guarantee of future models being built here, NedCar's future remains in the balance.^[4] 1999 Mitsubishi Colt Colt was a name used as an export marque by the Mitsubishi Motors Corporation of Japan. ... The Smart Forfour was introduced in 2004. ... 1996 Volkswagen Polo, a popular modern European supermini A supermini is a European hatchback car category. ... DaimlerChrysler AG headquartered in Stuttgart, Baden-WÃ¼rttemberg and Auburn Hills, Michigan, is a prominent automobile and truck manufacturer and financial services provider (through DaimlerChrysler Financial Services). ...

Recent troubles

Sexual harassment suits

Mitsubishi's image in North America was tarnished when two notable lawsuits were brought against the company. The first, filed by 29 women in December 1994, accused the company of fostering a climate of sexual harassment at its Normal, Illinois plant. Then, in April 1996 the Equal Employment Opportunity Commission (EEOC) filed a class action suit on behalf of approximately 300 other women who worked at the plant. Mitsubishi initially denied any problems at its plant but later hired former US Labor Secretary Lynn Martin to recommend changes to its policies and practices. The 1994 suit was settled for US$9.5 million in August 1997, and reached an agreement with the EEOC later that year as well.^[5] Sexual harassment is harassment of a sexual nature, typically in the workplace or other setting where raising objections or refusing may have negative consequences. ... The Equal Employment Opportunity Commission, or EEOC, is a U.S. federal agency tasked with ending employment discrimination in the United States. ... The United States Secretary of Labor is the head of the United States Department of Labor. ... The official portrait of Lynn Martin hangs in the Department of Labor Lynn Morley Martin was a United States politician. ...

Asian economic downturn

The benefits Mitsubishi had seen because of its strong presence in south-east Asia reversed themselves as a result of the economic crisis in the region which began in 1997. In September of that year the company closed its Thai factory in response to a crash in the country's currency and plummeting consumer demand. The large truck plant, which had produced 8,700 trucks in 1996, was shut down indefinitely. In addition, Mitsubishi had little support from sales in Japan, which slowed considerably throughout 1997 and were affected by that country's own economic uncertainty into 1998. Other Japanese automakers, such as Toyota and Honda, bolstered their own slipping domestic sales with success in the United States. However, with a comparatively small percentage of the American market, the impact of the turmoil in the Asian economy had a greater effect on Mitsubishi, and the company's 1997 losses were the worst in its history. In addition, it lost both its rank as the third largest automaker in Japan to Mazda, and market share overseas. Its stock price fell precipitously, prompting the company to cancel its year-end dividend payment. Toyota redirects here. ... For other uses, see Honda (disambiguation). ... To meet Wikipedias quality standards, this article or section may require cleanup. ... Mazda Motor Corporation ) (TYO: 7261 ) is a Japanese automobile maker based in Hiroshima, Japan. ...

In November 1997, Mitsubishi hired Katsuhiko Kawasoe to replace Takemune Kimura as company president. Kawasoe unveiled an aggressive restructuring program that aimed to cut costs by ¥350 billion in three years, reduce personnel by 1,400, and return the company to profitability by 1998. But while the program had some initial success, the company's sales were still stagnant as the Asian economy continued to sputter. In 1999, Mitsubishi was forced once again to skip dividend payments. Its interest-bearing debt totalled ¥1.7 trillion.

Vehicle defect cover-up

In possibly the biggest scandal to ever hit the Japanese auto industry, Mitsubishi was twice forced to admit to systematically covering up problems in its vehicles. Four defects were first publicized in 2000, but in 2004 it confessed to 26 more going back as far as 1977, including failing brakes, fuel leaks and malfunctioning clutches. The effect on the company was catastrophic, forcing it to recall 163,707 cars (156,433 in Japan and 7,274 overseas) for free repair.^[6] Further recalls by Fuso truck & bus brought the total number of vehicles requiring repair to almost one million. The scandal led to the resignation of Kawasoe and his subsequent arrest, along with 23 other employees who were also implicated.^[7] The Mitsubishi Fuso Truck and Bus Corporation (Japanese: ä¸‰è±ãµãã†ãƒˆãƒ©ãƒƒã‚¯ãƒ»ãƒã‚¹æ ªå¼ä¼šç¤¾) is a Japanese manufacturer of trucks and buses. ...

0--0--0

In an effort to boost sales in the US at the start of the decade, Mitsubishi began offering a "0--0--0" finance offer ~ 0% down, 0% interest, and US$0 monthly payments (all repayments deferred for 12 months). Initially, sales leapt, but at the end of the year's 'grace period' numerous credit-risky buyers defaulted, leaving Mitsubishi with used vehicles for which they'd received no money and which were now worth less than they cost to manufacture. The company's American credit operation, MMCA, was eventually forced to make a US$454 million provision against its 2003 accounts as a result of these losses.^[8]

DaimlerChrysler debacle

Two years after the merger of Daimler and Chrysler, the US-German conglomerate paid US$1.9bn for a controlling 34% of MMC in an effort to create a "Welt AG" (global automaker). The price reflected a US$200 million discount on the originally agreed figure, caused by the public disclosure of the defect cover-up scandal. In March 2001 it increased this to 37.3% when it acquired Volvo's stake in MMC's truck-making operations, further boosting Mercedes' share of a market it already dominated. However, boardroom wrangles at DCX prevented them offering financial assistance as Mitsubishi attempted to reduce its crippling debts.^[9] When a US$4 billion rescue package was agreed with Tokyo-based Phoenix Capital in May 2004, DCX's stake was reduced to 23%, and further recapitalisations subsequently diluted the holding to 12.4%. Finally, on 11th November 2005, the remaining stock was sold for for US$1.1 billion ~ an US$800 million loss in five years.^[10] Three days later the buyer, investment bank Goldman Sachs sold the shares on for US$80 million profit.^[11] DaimlerChrysler AG headquartered in Stuttgart, Baden-WÃ¼rttemberg and Auburn Hills, Michigan, is a prominent automobile and truck manufacturer and financial services provider (through DaimlerChrysler Financial Services). ... AB Volvo (or Aktiebolaget Volvo) is a world-leading Swedish manufacturer of commercial vehicles, buses and construction equipment, drive systems for marine and industrial applications, aerospace components and services. ... The Goldman Sachs Group, Inc. ...

New major stockholder Phoenix Capital followed suit the following month, selling all but 50 million of its 575 million shares to JPMorgan on 9th December 2005. Once again, the investment bank offloaded their purchase within a few days for tens of millions in profit. In both cases, the eventual buyers were part of the Mitsubishi keiretsu, returning MMC to Japanese ownership once more. However, whether this improves its chances of long-term survival is still unknown. JPMorgan Chase & Co. ... Mitsubishi Logo The Mitsubishi Group ), Mitsubishi Group of Companies, or Mitsubishi Companies, all refer to a large grouping of independently operated Japanese companies which share the Mitsubishi brand name. ...

Recovery strategy

The current president, Osamu Masuko, is hoping for a return to the black in the 2006 financial year and a reversal of the worldwide decline in sales. The company reported its first profitable quarter in the third quarter of 2005 after eleven successive losses, thanks in part to a weaker yen, and reduced charges to cut bad loans and write down asset values. After a starvation of new investment caused by their cashflow crises, the company introduced the Mitsubishi i keicar, its first new model in 29 months. A new generation Outlander/Airtrek will be introduced in the USA to compete in the popular XUV market niche, joining the new Eclipse, Lancer and Lancer Evolution X in its most critical territory. Image File history File links Mitsubishi_i. ... Image File history File links Mitsubishi_i. ... This article needs copyediting (checking for proper English spelling, grammar, usage, etc. ... Example: Daihatsu Copen Example: Daihatsu Cuore Example: Suzuki Cappuccino Example: Subaru R1 Keicar (K-car), also called keijidÅsha (in Japanese: è»½è‡ªå‹•è»Š light motor vehicle), is a Japanese category of small automobiles, including passenger cars and also vans and pick-up trucks for commercial use. ... The Mitsubishi Outlander is a compact crossover SUV manufactured by Mitsubishi Motors. ... This article needs to be cleaned up to conform to a higher standard of quality. ... A crossover SUV or XUV is an automobile with a sport utility vehicle appearance but is built upon a more economical and fuel-efficient car-based platform. ... The Mitsubishi Eclipse is a two-door, four-seat sports car that has been in production since 1989. ... To meet Wikipedias quality standards, this article or section may require cleanup. ... 2005 Mitsubishi Lancer Evolution IX GSR The Lancer Evolution (colloquially known as the Evo) is Mitsubishis flagship sports car. ...

Meanwhile, slow-selling vehicles like the Diamante, Lancer Sportback station wagon, Montero Sport and US-market Montero have all been discontinued. Purchase projections for the Mitsubishi/Hyundai/Chrysler Global Engine Manufacturing Alliance engines have been scaled back. 10,000 jobs have been shed to cut costs, with 3,400 workers at its Australian plant and other loss-making operations still under threat. Meanwhile, new export markets for the Eclipse and Galant in Russia, Ukraine and the Middle East are being explored, in an effort to improve production at its US plant.^[12] Mitsubishi has also been active in OEM production of cars for Nissan, and announced a partnership with PSA Peugeot Citroën in July 2005 to manufacture an SUV. The company's global target is 1,524,000 sales by the end of the 2007 fiscal year. The examples and perspective in this article or section may not represent a worldwide view. ... To meet Wikipedias quality standards, this article or section may require cleanup. ... The Mitsubishi Montero Sport (called Pajero Sport and Challenger in some markets) was a mid-sized SUV produced from the early 1990s through the 2000s. ... The Mitsubishi Pajero, known as the Mitsubishi Montero in North America and Spanish-speaking countries, and as Mitsubishi Shogun in the United Kingdom, is an SUV built by the Mitsubishi Motors Corporation. ... The Hyundai Group (meaning modernity in Korean) was founded by Chung Ju-yung in 1947 as a construction company and was once South Koreas biggest conglomerate (chaebol). ... The Chrysler Corporation is a United States-based automobile manufacturer, since 1998 merged with Daimler_Benz into DaimlerChrysler. ... The Global Engine Manufacturing Alliance, or GEMA, is a manufacturing arm of Global Engine Alliance LLC, which is a joint venture of DaimlerChrysler, Mitsubishi Motors Corporation, and Hyundai Motor Company for developing a line of shared engines. ... Mitsubishi Motors Australia Ltd. ... To meet Wikipedias quality standards, this article or section may require cleanup. ... It has been suggested that Datsun be merged into this article or section. ... PSA Peugeot CitroÃ«n (PSA) is a vehicle company that owns the marques Peugeot and CitroÃ«n. ...

Motorsport

Mitsubishi has almost half a century of international motorsport experience, predating even the incorporation of MMC. Beginning with street races in the early 1960s, the company found itself gravitating towards the challenge of off-road racing. It dominated the East African Safari Rally in the '70s, the Dakar Rally from the '80s, and the Group A and Group N classes of the World Rally Championship through the '90s. The Safari Rally is held in Kenya and is considered by many to be the worlds toughest rally. ... A Renault truck during the 2004 Dakar The Dakar Rally (or simply The Dakar; formerly known as The Paris Dakar Rally) is an annual professional off-road race, currently sponsored by Total S.A. and organized by the Amaury Sport Organisation. ... In relation to motorsport governed by the FIA, Group A referred to a set of regulations providing production-derived vehicles for outright competition. ... In relation to motorsport governed by the FIA, Group N referred to a set of regulations providing a set of rules for standard production vehicles for competition, often referred to as the Showroom Class. This contrasts with the Group A all-out competition production-derived vehicles. ... Stephane Sarrazin driving a Subaru Impreza WRC on the Monte Carlo Rally Carlos Sainz driving a Toyota Corolla WRC on the Monte Carlo Rally The World Rally Championship (WRC) is a rally racing series across the world (although the main focus is in Europe, due to the sports roots...

Image File history File linksMetadata Mitsubishi500racer. ... Image File history File linksMetadata Mitsubishi500racer. ... // Overview The Mitsubishi 500 was the first passenger car produced by Mitsubishi Motors Corporation after the Second World War. ... Introduction Originally conceived in 1954 as an amateur event for local motoring enthusiasts, the Macau Grand Prix is today a race meeting to which the worlds leading riders and drivers vie for entries. ... Image File history File linksMetadata Gsr1600evowrc. ... Image File history File linksMetadata Gsr1600evowrc. ... // Overview The Mitsubishi Lancer 1600 GSR was the high-performance version of the first generation Lancer sedan. ... The Safari Rally is held in Kenya and is considered by many to be the worlds toughest rally. ... The Galant VR-4 was the range-topping version of Mitsubishis midsize sedan, available in the sixth (1988-1992), seventh (1992-1996) and eighth (1996-2002) generations of the vehicle. ... 2005 Mitsubishi Lancer Evolution IX GSR The Lancer Evolution (colloquially known as the Evo) is Mitsubishis flagship sports car. ... Tommi MÃ¤kinen is a now retired Finnish rally driver, born in Puuppola, Finland near JyvÃ¤skylÃ¤ in June 1964. ... Stephane Sarrazin driving a Subaru Impreza WRC on the Monte Carlo Rally Carlos Sainz driving a Toyota Corolla WRC on the Monte Carlo Rally The World Rally Championship (WRC) is a rally racing series across the world (although the main focus is in Europe, due to the sports roots... 2005 Mitsubishi Lancer Evolution IX GSR The Lancer Evolution (colloquially known as the Evo) is Mitsubishis flagship sports car. ... Proton Proton cars are manufactured by Perusahaan Otomobil Nasional Sdn Bhd (Proton), based in Malaysia. ... The Mitsubishi Pajero, known as the Mitsubishi Montero in North America and Spanish-speaking countries, and as Mitsubishi Shogun in the United Kingdom, is an SUV built by the Mitsubishi Motors Corporation. ... A Renault truck during the 2004 Dakar The Dakar Rally (or simply The Dakar; formerly known as The Paris Dakar Rally) is an annual professional off-road race, currently sponsored by Total S.A. and organized by the Amaury Sport Organisation. ...

Jackie Chan

Mitsubishi has a long association with movie star Jackie Chan, who has always used their vehicles in his movies. The Jackie Chan Cup is an annual celebrity auto race involving starlets from across Asia in Mitsubishis with professional Touring Car drivers alongside for assistance, and was held before the Macau GP until 2004 when it moved to Shanghai.^[16] And in September 2005 Ralliart, Mitsubishi's motorsport arm, produced 50 Jackie Chan Special Edition versions of the Lancer Evo IX; Chan acts as the honorary Director of Team Ralliart China.^[17]^[18] Jackie Chan (born April 7, 1954 in Hong Kong) is a Chinese martial artist, actor, director, stuntman and singer. ... Ralliart is the motorsports division of Mitsubishi Motors. ... 2005 Mitsubishi Lancer Evolution IX GSR The Lancer Evolution (colloquially known as the Evo) is Mitsubishis flagship sports car. ...

Controlling shareholders

Information accurate as of 31 Dec 2005 ^[19] Mitsubishi Heavy Industries, Ltd (MHI) (ä¸‰è±é‡å·¥æ¥, Mitsubishi JÅ«kÅgyÅ) TYO: 7011 is a Japanese company. ... The Mitsubishi Corporation (MC, ä¸‰è±å•†äº‹, Mitsubishi ShÅji) (TYO: 8058) is Japans largest trading company (sogo shosha). ... Th Bank of Tokyo-Mitsubishi UFJ, Ltd. ... The Mitsubishi companies, or the Mitsubishi Group of Companies or the Mitsubishi Group is a large group (keiretsu) of independently operated Japanese companies which share the Mitsubishi brand name. ...

Locations

Research, Design & Administration

Minato (港区; -ku) is a special ward located in Tokyo, Japan. ... Okazaki (å²¡å´Žå¸‚; -shi) is a city located in Aichi Prefecture (æ„›çŸ¥çœŒ/Aichi-ken) on the main island (æœ¬å·ž/HonshÅ«) of Japan (æ—¥æœ¬/Nihon). ... Kyoto Hall Mayor Yorikane Masumoto Address ã€’604-8571 Kyoto-shi, Nakagyo-ku, Teramachi-Oike, 488 Phone number 075-222-3111 Official website: Kyoto City This page is about the city Kyoto. ... For the dog breed, see Hokkaido (dog). ... Tama (多摩市; -shi) is a city located in Tokyo, Japan. ... Hesse (German: Hessen) is one of Germanys sixteen federal states (BundeslÃ¤nder) and has an area of 21,110 kmÂ² and just over six million inhabitants. ... Normal is an incorporated town located in McLean County, Illinois. ... Cypress City Hall Cypress is a city located near the northern border of Orange County, California, USA. Though it is considered to be a suburb of Long Beach, it has many resident industries. ...

Plants

Nagoya Castle Nagoya (åå¤å±‹å¸‚; -shi) is the fourth largest (third largest metropolitan region) and the third most prosperous city in Japan. ... Sakahogi (坂祝町; -chou) is a town located in Kamo District, Gifu, Japan. ... Kyoto Hall Mayor Yorikane Masumoto Address ã€’604-8571 Kyoto-shi, Nakagyo-ku, Teramachi-Oike, 488 Phone number 075-222-3111 Official website: Kyoto City This page is about the city Kyoto. ... Koka (甲賀市, -shi) is a city located in the southern part of Shiga, Japan. ... Okazaki (å²¡å´Žå¸‚; -shi) is a city located in Aichi Prefecture (æ„›çŸ¥çœŒ/Aichi-ken) on the main island (æœ¬å·ž/HonshÅ«) of Japan (æ—¥æœ¬/Nihon). ... Normal is an incorporated town located in McLean County, Illinois. ... Clovelly Park is a suburb of Adelaide in the local government area of the City of Marion. ... Sittard-Geleen is a municipality in the southeastern Netherlands. ...

Joint venture and licensed plants

Beijing (Chinese: åŒ—äº¬; Pinyin: BÄ›ijÄ«ng; ; IPA: ), a city in northern China (formerly spelled in English as Peking or Peiking), is the capital of the Peoples Republic of China (PRC). ... Beijing-Benz DaimlerChrysler Automotive Co Ltd is a 30-year joint venture between DaimlerChrysler and Beijing Automotive Industry Holding Corp. ... Fujian (Chinese: ç¦å»º; Hanyu Pinyin: ; Wade-Giles: Fu-chien; Postal System Pinyin: Fukien, Foukien; local transliteration Hokkien from Min Nan Hok-kiÃ n) is one of the provinces on the southeast coast of China. ... South East (Fujian) Motor Co. ... Hunan (Chinese: æ¹–å—; Hanyu Pinyin: ) is a province of China, located in the middle reaches of the Yangtze River and south of Lake Dongting (hence the name Hunan, meaning south of the lake). Hunan is sometimes called æ¹˜ (pinyin: XiÄng) for short, after the Xiang River which runs through the province. ... Tamil Nadu (தமிழ் நாடு, Land of the Tamils) is a state at the southern tip of India. ... Hindustan Motors is the automobile manufacturer of India. ... China Motor Corporation (CMC) is a manufacturer of automobiles in Taiwan. ... For other uses, see Cairo (disambiguation). ... CatalÃ£o is a small city and municipality located in the south of the state of GoiÃ¡s, in Brazil. ... Flag of GoiÃ¡s See other Brazilian States Capital GoiÃ¢nia Largest City GoiÃ¢nia Area 341 289 kmÂ² Population - Total - Density 4 848 725 14. ...

Historical sources

Citations

^ Mitsubishi Motors entry in Forbes 2006 list of largest public companies
^ "Mitsubishi to sell stake in Hyundai", Andrea Wielgat, Automotive Industries, November 2002
^ "Mitsubishi sells entire stake in Proton", Yoshifumi Takemoto & Chan Tien Hin, Bloomberg News, 13 January, 2005
^ "Agreement ends strikes at NedCar", Expatica.com, 25 April 2006
^ "MMNA and EEOC reach voluntary agreement to settle harassment suit", EEOC press release, 11 June 1998
^ "Mitsubishi Motors Admits Decades-Long Defect Cover-Up" Autosafety.org / Associated Press, 2 June 2004
^ "Cover-up forces Mitsubishi boss out" BBC News, 8 September 2000
^ "Mitsubishi Motors Announces First-Half FY 2003 Results, Gives Forecast for Full-Year FY 2003" Mitsubishi Motors press release, 11 November 2003
^ "Remodelling Japan Inc" Sarah Buckley, BBC News, 13 October 2004
^ "Daimler sells stake in Mitsubishi" BBC News, 11 November 2005
^ "Mitsubishi shares make Goldman Sachs $80 million in a day" Automotive Business Review, 18 November 2005
^ "Mitsubishi’s turnaround hinges on new models, worker mindset" AIADA, 31 October 2005
^ World Rally Championship for Manufacturers at Rallybase.nl website
^ FIA Cup for Drivers of Production Cars at Rallybase.nl website
^ "Mitsubishi achieves record-breaking fifth victory and 10th overall win on the Dakar Rally" Mitsubishi Motors press release, 17 January 2005
^ Jackie Chan Foundation will hold their next annual auto race in Shanghai Jackiechankids.com news release, 1 November 2003
^ "Jackie Chan kicks back" New Zealand Herald, 10 September 2005
^ "FASC Chinese Team Complete Support of Team Mitsubishi Ralliart China" Jackiechankids.com news release, 22 December 2003
^ Stock Information Mitsubishi Motors website

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