Unhappy Investors
Mitsubishi! > News > Japan > Mitsubishi Motors News > 2004 > Group Investors Question management
June 29, 2004. Executives of the group companies tried to justify the financial aid to MMC, arguing that it was necessary to protect the Mitsubishi brand as a whole. Mitsubishi Tokyo Financial Group's former President Shigemitsu Miki sought understanding for the equity investments and debt-for-equity swaps with MMC planned by two subsidiary banks by stating that it makes economic sense. He said, "We must help (Mitsubishi Motors) regain trust as quickly as possible and, in turn, maintain public confidence in the entire group." Many shareholders didn't seem convinced by the argument. Similar scenes were repeated at other Mitsubishi group companies including Mitsubishi Heavy Industries Ltd.
Older stories in reverse chronological order (Newer ones first)
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