JAPAN: Mitsubishi may revise restructuring plan
Mitsubishi Motors said on Tuesday it was considering revising its restructuring programme only a month after it had devised a $US4 billion emergency rescue package.
"We are considering various options," a Mitsubishi Motors spokesman told Reuters, when asked whether poor car sales in the past month could affect its restructuring scheme. "But nothing is finalised yet."
The news agency noted that Mitsubishi Motors is struggling with declining sales due to a series of recall scandals that hit it and affiliate Mitsubishi Fuso Truck and Bus Corp in the past month, further battering its reputation.
In May, new vehicle sales at Mitsubishi Motors, Japan's only loss-making carmaker, plunged 56.3% from a year earlier, Reuters noted.
The daily Mainichi Shimbun reportedly said on Tuesday that Mitsubishi Motors was considering accelerating belt-tightening measures announced on May 21, including 7,600 job cuts, the closure of a major plant in Japan and the relocation of its headquarters to Kyoto.
A series of new measures would be announced as early as this week, the paper reportedly said.
Reuters noted that the Nihon Keizai business daily said on Sunday that MMC was likely to cut its domestic vehicle sales target for the year ending next March to 220,000 units from the 300,000 projected in May.