Mitsubishi prepares roadmap for growth

In an interview with Reuters, Mitsubishi Motors President Osamu Masuko has indicated that the company is preparing a roadmap for growth which will be revealed to investors by the end of 2010. This should coincide with the unveiling of plans to remove around ¥400 billion (US$4.38 billion) of unredeemed preferred shares from the company’s balance sheet, shares issued principally to the Mitsubishi Group. According to Masuko, the roadmap for growth is likely to rely on two pillars–Mitsubishi’s strength in environmental technology through its electric car business, and expansion in emerging markets through the ‘Global Small Car’, to go on sale at under ¥1 million (US$10,930) by the end of 2011. (June 9, 2010)