Mitsubishi Motors Pain Spreads With $3 Billion Exposure Risk
- Trading company Mitsubishi discloses potential impact of fraud
- Mitsubishi Heavy CEO says hasn't been asked to aid carmaker
Mitsubishi Motors in Limbo as Shareholder Waits on Probe
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Mitsubishi Motors Corp.’s fraudulent fuel-economy testing and the subsequent plunge in its stock price and sales could cost its second-largest shareholder about 335 billion yen ($3 billion), as the Japanese carmaker’s disclosure reverberates through its business group.
Mitsubishi Corp., which owns 10 percent of Mitsubishi Motors, is the first of the automaker’s major shareholders to measure the potential impact of improper fuel economy testing dating back 25 years. It also joined Mitsubishi Heavy Industries Ltd., the carmaker’s biggest stock owner, in saying it can’t comment at this point whether to extend aid to the carmaker.