Mitsubishi Motors Corporation (MMC) has announced that Nissan Motor has become its largest shareholder after completing the purchase of 34 percent of MMC-issued stock for JPY$237 billion ($3.2 billion).
As part of Nissan's strategic investment, MMC will become a full member of the 17-year strong global alliance between Nissan and Renault; paving the way for synergies to enhance profit margins and earnings per share.
The three largest institutional shareholders in MMC - Mitsubishi Heavy Industries, Mitsubishi Corporation, and The Bank of Tokyo-Mitsubishi UFJ - have welcomed Nissan's investment and pledged their support for its board nominees. Moving forward, these three Mitsubishi institutional shareholders together with Nissan will maintain a more than 51 percent of the share capital.
Nissan and MMC will begin cooperating on a wide-ranging synergy program, building on a five-year alliance in minicars between the two companies.