Latest Mitsubishi Corp News

FILE - In this Jan. 18, 2019, file photo, Mitsubishi Motors CEO Osamu Masuko speaks during a press conference at its headquarters in Tokyo. Mitsubishi Motors Corp. reported Monday, July 27, 2020, a 176 billion yen ($1.7 billion) loss for April-June, and forecast more red ink for the fiscal year, as the coronavirus pandemic slammed auto demand around the world.  (AP Photo/Eugene Hoshiko)

Japan's Mitsubishi Motors racks up red ink on pandemic pain

Jul. 27, 2020 5:08 AM EDT

TOKYO (AP) — Mitsubishi Motors Corp. reported Monday a 176 billion yen ($1.7 billion) loss for April-June, and forecast more red ink for the fiscal year, as the coronavirus pandemic slammed auto demand around the world. The Japanese automaker had posted a profit of 9.3 billion yen for the fiscal first...

In this image from a video provided by Mitsubishi Motors Corp., Chief Executive Takao Kato speaks during its shareholders meeting Thursday, June 18, 2020. Mitsubishi Motors told shareholders Thursday that top executives are getting pay cuts to take responsibility for the Japanese automaker’s financial losses. (Mitsubishi Motors Corp. via AP)

Money-losing Mitsubishi says executives will take pay cuts

Jun. 17, 2020 11:27 PM EDT

TOKYO (AP) — Mitsubishi Motors told its shareholders Thursday that its top executives are taking pay cuts to share responsibility for the Japanese automaker’s financial losses. “I hope we can gain your understanding,” Chief Executive Takao Kato said on how, given the harsh conditions,...