Mitsubishi buys back stake from Nissan

MANILA: Mitsubishi Motors Corporation has bought back a portion of its stake from Nissan Motor Company Limited. 

The Alliance members decided to move around stocks with the former acquiring a total of 10.02 percent (149,028,300 shares) of the total number of issued shares from the latter. 

As a result, Nissan’s stake in Mitsubishi now stands at 34.07 percent (506,620,577 shares).

“In light of the recent trend to reduce cross-shareholdings, Mitsubishi Motors has decided to repurchase its own shares from Nissan Motor after considering ways to improve capital efficiency and expand shareholder returns,” Mitsubishi said in a press release.

“Mitsubishi Motors and Nissan will continue their collaborative efforts to drive innovation and deliver exceptional value to their stakeholders. Together, the Alliance companies are actively engaged in high-value creation projects that respond to evolving industry trends,” it added.  

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