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MarketScreener Homepage  >  Equities  >  Tokyo  >  Mitsubishi Motors Corporation    7211   JP3899800001

MITSUBISHI MOTORS CORPORATION

(7211)
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Nissan, Renault, Mitsubishi Motors agree to form new venture for advanced R&D: Kyodo

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12/01/2019 | 01:50am EST
FILE PHOTO: Renault-Nissan-Mitsubishi The Renault-Nissan-Mitsubishi alliance logo at a joint news conference in Yokohama

The Nissan Motor Co, Renault and Mitsubishi Motors Corp alliance has agreed to form a new company focused on research and development of advanced automotive technologies, Kyodo News said.

The three companies will announce a concrete plan in January, Kyodo reported on Sunday, citing people familiar with the matter. The new venture also aims to strengthen the alliance, in which relationships have frayed since the arrest and ouster of former supremo Carlos Ghosn, according to the report.

Renault, Nissan and Mitsubishi plan to appoint a general secretary to the helm of their partnership to boost cooperation and reboot joint operations.

A new leadership team was installed at Nissan from Sunday, headed by 53-year-old Makoto Uchida, who ran the automaker's China business. Renault is also looking for a new chief executive, with the head of finance, Clotilde Delbos, in charge on an interim basis.

Ghosn was arrested a year ago in Tokyo on charges of financial misconduct, which he denies.

Nissan did not immediately respond to requests for comment.

(Reporting by Kevin Buckland; Editing by Tom Hogue)

Stocks mentioned in the article
ChangeLast1st jan.
MITSUBISHI MOTORS CORPORATION -1.83% 482 End-of-day quote.-15.73%
NISSAN MOTOR CO., LTD. -1.16% 679.6 End-of-day quote.-20.62%
RENAULT -1.45% 41.26 Real-time Quote.-24.36%
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Latest news on MITSUBISHI MOTORS CORPORAT
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More news
Financials (JPY)
Sales 2020 2 445 B
EBIT 2020 45 036 M
Net income 2020 29 104 M
Finance 2020 264 B
Yield 2020 4,10%
P/E ratio 2020 25,9x
P/E ratio 2021 14,0x
EV / Sales2020 0,19x
EV / Sales2021 0,19x
Capitalization 717 B
Technical analysis trends MITSUBISHI MOTORS CORPORAT
Short TermMid-TermLong Term
TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 17
Average target price 486,00  JPY
Last Close Price 482,00  JPY
Spread / Highest target 28,6%
Spread / Average Target 0,83%
Spread / Lowest Target -17,0%
EPS Revisions
Managers
NameTitle
Takao Kato Chief Executive Officer & Director
Osamu Masuko Chairman & Representative Executive Officer
Koji Ikeya CFO, Executive VP, Head-Finance & Accounting
Masao Kuruma Chief Information Officer & Executive Officer
Shunichi Miyanaga Outside Director
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