Mitsubishi Loss Grows, Sales Slide
From Associated Press
Japanese automaker Mitsubishi Motors Corp. said its loss more than doubled to about $2 billion for the first nine months of its current fiscal year, as sales slid amid a recurring recall coverup scandal.
Mitsubishi Motors also said Tuesday that it had reached a preliminary agreement over compensation being sought by key shareholder DaimlerChrysler for financial damages arising from the repeated scandals.
The pact calls for Mitsubishi Motors to transfer the remaining 20% stake it owns in Mitsubishi Fuso Truck & Bus Corp.
Tokyo-based Mitsubishi lost 228 billion yen ($2 billion) in April-December, worse than the 103-billion-yen loss in the year-earlier period. Sales fell 12% to 1.6 trillion yen.
