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MarketScreener Homepage  >  Equities  >  Tokyo  >  Nissan Motor Co Ltd    7201   JP3672400003

NISSAN MOTOR CO LTD

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Masuko to step down as Mitsubishi Motors CEO, Kato to succeed him

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05/17/2019 | 07:43am EDT
Mitsubishi Motors Corp's President and CEO Osamu Masuko speaks to the media in Tokyo

TOKYO (Reuters) - Mitsubishi Motors Corp said on Friday that Osamu Masuko will step down as its chief executive on June 21 and be replaced by Takao Kato, who is president of its operations in Indonesia.

Masuko will retain his role as chairman of the board, Mitsubishi Motors said in a statement, adding that Masuko and Kato will hold a press conference on May 20 to discuss the changes.

Japan's sixth-largest automaker, in which Nissan Motor Co holds a controlling stake, said this month it expects profit to fall to 90.0 billion yen ($821 million) in the year to March as it navigates slowing demand for cars, global trade frictions and the need to develop new technologies.

Mitsubishi's partners Nissan and France's Renault are meanwhile grappling with the fallout from the arrest of Carlos Ghosn, the group's former chairman, who is facing charges of financial misconduct in Japan.

Ghosn has denied all charges against him.

(Reporting by Stanley White; Editing by Alexander Smith)

Stocks treated in this article : Renault, MITSUBISHI MOTORS CORPORATION, Nissan Motor Co Ltd
Stocks mentioned in the article
ChangeLast1st jan.
MITSUBISHI MOTORS CORPORATION -1.60% 492 End-of-day quote.-13.99%
NISSAN MOTOR CO LTD -0.65% 753 End-of-day quote.-12.04%
RENAULT 3.97% 54.73 Real-time Quote.3.01%
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Financials (JPY)
Sales 2020 11 317 B
EBIT 2020 -
Net income 2020 285 B
Debt 2020 6 713 B
Yield 2020 5,78%
P/E ratio 2020 10,67
P/E ratio 2021 7,80
EV / Sales 2020 0,88x
EV / Sales 2021 0,86x
Capitalization 3 212 B
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Mean consensus HOLD
Number of Analysts 21
Average target price 866  JPY
Spread / Average Target 14%
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Managers
NameTitle
Hiroto Saikawa Vice Chairman, President & Chief Executive Officer
Hiroshi Karube Chief Financial Officer
Takao Asami Senior Managing Executive Officer & Head-Research
Anthony Thomas Chief Information Officer & Corporate VP
Carlos Ghosn Bichara Director
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