— Mitsubishi Motors Corporation (MMC) today announced that it received 130 billion yen for the issue of No. 1 Class G preferred shares. In addition to the 165 billion yen received by the company for No. 1 and No.2 Class A preferred shares on June 24, MMC has now procured a total of 295 billion yen from issuing preferred shares.
Today's payment includes 90 billion yen from The Bank of Tokyo-Mitsubishi and 40 billion yen from The Mitsubishi Trust & Banking Corporation. MMC will use the funds to pay outstanding debts at both banks.
MMC is currently moving forward with the measures outlined in its business revitalization plan, aiming to turn the company around and rid itself of past practices. By using the funds as effectively as possible and steadily implementing its revitalization plan, MMC is working to reform itself into a company that enjoys the trust of its customers and the public while making a positive contribution to all countries in which it operates.
