— The following movement of major shareholders occurred on December 9, 2005.
1. Background of the transfer
JP Morgan Securities Ltd. announced today that concerning
their shares of Mitsubishi Motors Corporation (MMC), as detailed below, the
company has ceased being a major MMC shareholder.
2. Party involved
| Name |
J.P. Morgan Securities Ltd. |
| Head Office |
125 London Wall, London ECY 5AJ, UK |
| Representative |
James T. Brown |
| Main Operations |
Securities |
3. Number of shares held, ownership percentage, and shareholder rank
| J.P. Morgan Securities Ltd. |
Shares Held |
Ownership Percentage |
Rank |
| Pre-purchase |
557,580,433 |
11.35% |
No. 3 |
| Post-purchase |
32,580,433 |
0.66% |
- |
| * |
a. Common shares outstanding as of Dec. 8, 2005 |
4,917,250,472 |
| b. Non-voting right carrying shares |
4,680,472 |
| a - b |
4,912,570,000 |
4. Date of transaction
December 9, 2005
5. Expectations going forward
In order to secure the revitalization of Mitsubishi
Motors Corporation, domestically and globally and from an operational and financial
perspective, with the cooperation of 3 Mitsubishi group companies, Mitsubishi
Heavy Industries, Ltd. (MHI), Mitsubishi Corporation (MC), and The Bank of Tokyo-Mitsubishi,
Ltd. (BTM), the 3-year business plan announced on January 28, 2005 is being
implemented.
As announced together with the 3-year business plan,
MHI, MC, and BTM will increase their holdings in MMC to a combined 34% of outstanding
common shares during fiscal 2005.
To this end, through the conversion of preferred
shares, MHI will increase its holdings in MMC to 15% of outstanding common shares
in December 2005. As a result, MMC will become an equity-method affiliate of
MHI.
Currently, members of MHI, MC, and BTM sit on MMC's
board of directors and audit committee. Also, through the Business Revitalization
Monitoring Committee, MMC receives a thorough outside check of on the progress
of the business plan as well as advice as requested. These are examples of the
continued strong support and guidance MMC is receiving from the 3 Mitsubishi
group companies.
With the support from these 3 companies as a foundation,
all directors and staff of MMC are combining all efforts into the promotion
of the 3-year plan.
( For reference )
Major shareholders before this transaction
(as of Dec. 8, 2005, excluding shares held under joint custody)
| Rank |
Shareholder |
Shares Held
(thousand shares) |
Ownership
Percentage |
| 1 |
Mitsubishi Heavy Industries, Ltd. |
580,683 |
11.82% |
| 2 |
Mitsubishi Corporation |
571,065 |
11.62% |
| 3 |
J.P Morgan Securities Ltd. |
557,580 |
11.35% |
| 4 |
The Bank of Tokyo-Mitsubishi, Ltd. |
203,949 |
4.15% |
Major shareholders after this transaction
(as of Dec. 9, 2005, excluding shares held under joint custody)
| Rank |
Shareholder |
Shares Held
(thousand shares) |
Ownership
Percentage |
| 1 |
Mitsubishi Heavy Industries, Ltd. |
580,683 |
11.82% |
| 2 |
Mitsubishi Corporation |
571,065 |
11.62% |
| 3 |
The Bank of Tokyo-Mitsubishi, Ltd. |
203,949 |
4.15% |
| * |
This list of major shareholders is based on figures as of Sept 30, 2005. |
| * |
| a. Common shares outstanding as of Dec. 8, 2005 |
4,917,250,472 |
| b. Non-voting right carrying shares |
4,680,472 |
| a - b |
4,912,570,000 |
|
