MITSUBISHI Motors Corp. (MMC) recently announced plans to buy back about 10 percent (149,028,300 shares) of its outstanding shares from Nissan Motor Co. Ltd. This move reduces Nissan's stake in MMC from around 34 percent to roughly 24 percent.The purchase took place on Nov. 8, 2024, using a special off-auction trading system on the Tokyo Stock Exchange. The set price was JPY 460.6 per share, based on the Nov. 7 closing price.MMC stated that the decision was part of a strategy to improve capital efficiency and enhance shareholder returns, aligning with industry trends to reduce cross-shareholdings. Despite the decrease in Nissan's stake, MMC and Nissan remained committed to their alliance, continuing to collaborate on innovative projects and forward-looking initiatives.Known for its SUVs, pickups and plug-in hybrid electric vehicles (EVs), MMC had long been a pioneer in electrified transportation. It aimed to achieve 100-percent electrified vehicle sales by 2035, reinforcing its dedication to a more sustainable, carbon-neutral future.
