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[Nissan CEO] Ghosn certain $2.2 billion deal for Mitsubishi is a bargain
Associated Press ^ | May 13, 2016 3:46 AM EDT | Yuri Kageyama

Posted on 05/13/2016 7:11:19 AM PDT by Olog-hai

Nissan Chief Executive Carlos Ghosn is confident a 237 billion yen ($2.2 billion) investment in a controlling stake in scandal-embroiled Mitsubishi Motors will prove a bargain when sheer size is critical in the auto industry.

Japanese transport ministry officials raided Mitsubishi Motors Corp.’s Tokyo headquarters Friday, as part of an investigation into inflated fuel-economy data for several models. […]

Mitsubishi’s shares fell 43 percent between April 19 — the day before it announced the fuel economy scandal — and May 11. The stock cost 565 yen ($5.20) Friday, down 1.7 percent following a surge on the deal's news.

Gaining Mitsubishi adds about 900,000 in annual vehicle sales to the Nissan-Renault alliance, which already is the fourth-largest automaker in the world with about 8.5 million in sales. …

(Excerpt) Read more at hosted.ap.org ...


TOPICS: Business/Economy; Foreign Affairs; Japan
KEYWORDS: carlosghosn; eussr; fraud; mitsubishi; nissan; renault

1 posted on 05/13/2016 7:11:19 AM PDT by Olog-hai
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To: Olog-hai

Mitsubishi - killing Americans since 1941.


2 posted on 05/13/2016 7:44:28 AM PDT by Snowybear
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To: Olog-hai

Carlos Ghosn has brought Nissan back from the brink. He has done a great job there, not bad for a Foreigner heading a Japanese company.


3 posted on 05/13/2016 8:54:40 AM PDT by Paradox (My positions can evolve, but Principles should be immutable.)
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To: Paradox

Interesting, in that one keiretsu is poaching a named business from another.


4 posted on 05/13/2016 2:09:26 PM PDT by VanShuyten ("a shadow...draped nobly in the folds of a gorgeous eloquence.")
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