Mitsubishis self-redemption.doc

 PAGE \* MERGEFORMAT 9 Mitsubishi’s self-redemption Mitsubishi and DaimlerChrysler at the end of the bundling strategy in 5 appeared increasingly evident loosening, since late last month wearing a - g Board of Supervisors declare a unilateral cessation of further financial support from Mitsubishi, the wear - grams of the stock within two days that is up 6%. In just three weeks, Mitsubishi, also on the 21st of this month quietly launched 4,500 billion yen for self-salvation plan, Mitsubishi Motors said its goal is the next fiscal year that in March 2005 -2006 year in March re profitability. Prior to the introduction of this program, Mitsubishi Motors stock was once stopped disk, fell sharply after opening, even the Mitsubishi Group and other companies have also been selling shares of tired. Although the Dai - g alleging that the parties co-operation projects will be as usual, but also expressed confidence in the continued existence of Mitsubishi, but this strategy has become increasingly bundled with the system clearly highlights the cracks. Mitsubishi re-establish themselves ‘As a car manufacturer, this plan is our last chance to save itself. ‘Mitsubishi Motors CEOYoichiroOkazaki said at a news conference. Mitsubishi Motors is prepared to take measures include the closure of its factory in Japan, and within three years, a reduction of 30% of its non-productive labor force, or layoffs of about 7,600 people. In the Mitsubishi Motors Corporation’s senior management staff reduction program, will resign in June Mitsubishi Motors Chief Financial Officer KeiichiroHashimoto view, 4500 billion yen in financial assistance scheme would be sufficient to enable Mitsubishi to complete its self-help scheme. #165; 450,000,000,000 financial assistance mainly from the major stake holders of Mitsubishi Group. Among them, Mitsubishi Heavy Industries, Mitsubishi Corporation and Bank of Tokyo-Mitsubishi will buy #165; 120,000,000,000 preferred shares of Mitsubishi Motors. JP Mo