Struggling Mitsubishi Motors on Tuesday said it had decided to postpone the release of its new rehabilitation plan until the end of January.
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The company initially planned to announce details of the plan in mid-December, Kyodo News noted.
The decision to delay the announcement of the action plan at the final stages of preparation is aimed at gaining additional time ”to redefine strategy related to corporate tie-ups and alliances and to give further consideration to capital enhancement and other initiatives designed to bolster the mid- and long-term financial standing of the company,” Mitsubishi Motors told the news agency.
Despite the delay, the automaker’s revival drive will continue to receive support from three Mitsubishi group companies — Mitsubishi Heavy Industries Ltd., Mitsubishi Corp. and the Bank of Tokyo-Mitsubishi — as well as from Phoenix Capital Co., it reportedly said.
In a separate statement cited by Kyodo, Mitsubishi Motors denied news reports that it will sell its manufacturing facility in the United States and withdraw from the North American market and also denied reports it will close its manufacturing facility in Australia.
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