Australia’s finance minister Nick Minchin reportedly said on Thursday he is confident Japanese car maker Mitsubishi Motors will stay in Australia.


Mitsubishi’s manufacturing operations are located in South Australia, the state Minchin represents as a federal senator, a report said.


“I’m confident that the company is here to stay,” Minchin told Dow Jones Newswires, adding: “They do have a strong commitment to Australia. I’ve no doubt the company will stay in Australia, but the nature of that presence is subject to this review.”


The news agency noted that, earlier this month, Mitsubishi downplayed local media speculation its manufacturing facility was in danger of closing, pointing to recent investment in plant equipment as evidence of its commitment to Australia.


The speculation emerged as Mitsubishi conducts a global review of its operations, Dow Jones said, noting that Australia’s $A17 billion car industry is dominated by local divisions of Mitsubishi, Ford, General Motors (Holden) and Toyota.