Mitsubishi May Operate Independently Without Honda or Nissan

      Mitsubishi

      Did Mitsubishi executives miss out on playing The Legend of Zelda? Don't they realize that "it's dangerous to go alone?" Apparently, they haven't, as a recent report from the Japanese newspaper Yomiuri Shimbun, relayed by Automotive News, indicates that Mitsubishi intends to observe the Honda/Nissan merger from a distance while remaining an independent entity.

      According to the report, Mitsubishi will maintain collaboration with both Honda and Nissan—though the extent of this collaboration is still unclear—yet will operate as a standalone manufacturer. While Nissan holds a significant stake in Mitsubishi, it seems to be letting the smaller automaker chart its own path. In the latest update from Mitsubishi CEO Takao Kato, the brand was considering the details of the merger and anticipated announcing its future direction by the end of January.

      When approached for comments by The Drive, a Mitsubishi spokesperson issued the following statement: “A report from Yomiuri Shimbun mentioned Mitsubishi Motors' stance regarding potential involvement in the integration of Nissan and Honda. We would like to clarify that this information was not provided by Mitsubishi Motors. Currently, we are exploring several options, and no decisions have been made. We will provide updates at the appropriate time if there is anything to share.”

      The top executives from Nissan, Honda, and Mitsubishi, from left: Makoto Uchida, Toshihiro Mibe, and Takao Kato. Credit: Respective automakers.

      Earlier this month, Kato appeared cautious about collaborating with the other two brands at the Tokyo Auto Salon. The CEO acknowledged that a merger could enhance competition but was uncertain about the advantages for Mitsubishi. “As such, we are not in a position to declare we will actively pursue this," Kato stated, according to Automotive News. “I don’t think we can assume that management integration is a certainty.”

      That doesn’t convey much enthusiasm. If Mitsubishi intended to join the arrangement, one might expect Kato to express more optimism. Perhaps he is merely keeping his intentions under wraps.

      Nissan retains a 24% ownership stake in Mitsubishi, after the latter reacquired 10% of its shares in November. Either Mitsubishi's automotive division or its parent company, Mitsubishi Corp., could potentially buy the remaining shares from Nissan if they choose not to participate in the merger. This move could enable Nissan to resolve one of its two ongoing challenges, with the other being its relationship with Renault, which remains unresolved.

      We likely won't learn about Mitsubishi's intentions until its earnings meeting on February 3. If Mitsubishi chooses to stand independently, it would be ideal for them to find a wise old figure in a cave to grant them a sword.

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