Nissan already controls Mitsubishi – Express

In the aftermath of the scandal of manipulation of energy efficiency tests that affected Misubishi, the competitor Japanese Nissan Motor forward a proposal to purchase 34% of the competing brand, which is already signed. The Express confirmed to Nissan, the deal was closed by 237 billion yen, equipalente to 1911 million euros.

Plagued reputation, Mitsubishi became permeable an offer, at a time when Nissan introduced one of his best performances ever, with earnings growth in the third quarter of 2015 of 37.5%, which thus increased to 2440 million euros.

the Japanese news agency Kyodo announced that the managements of the two companies scheduled a series of meetings for Thursday. With this purchase, Nissan became the majority shareholder of Mitsubishi Motors

“The Wall Street Journal” believes that this business will determine a new hierarchy in the Japanese automotive industry. – Disputed by eight brands – from which is reinforced Nissan’s position as a manufacturer. The brand, incidentally, was already a partner of Mitsubishi, producing jointly urbanites vehicles for the Japanese market, with small engines of 660 cubic centimeters of displacement.

After the scandal of manipulation have been made public, sales of Mitsubishi fell and costs increased significantly, although the president Osamu Masuko Mitsubishi has already publicly guaranteed that the company has enough money to address the effects of the crisis.

Nissan occupied the 2nd place in the ranking sector of Japanese industry, while Mitsubishi was the 6th largest Japanese manufacturer.

this strategy is another victory the chief executive of Nissan Carlos Ghosn, who on Thursday will also reveal the results of fiscal year ended in March. Not long ago, Ghosn caught the impetus of the French state in trying to strengthen the capitial at Renault – the French brand with which Nissan has a partnership – that would lead to a domain also in the relationship with Nissan. However, the Japanese group pushed back the French intentions, limiting state participation Paris in Nissan-Renault alliance. Even so, Renault owns 43% of Nissan, while Nissan controls 15% of Renault.

Mitsubishi Motors is the largest shareholder of Mitsubishi Heavy Industries industrial conglomerate. And Mitsubishi Corporation holds 10% of the Bank Tokyo-Mitsubishi UFJ.