Mitsubishi Motors Corporation, at its July 27, 2020 board of directors meeting, resolved to stop production in first half of 2021 and close the factory of its domestic production subsidiary, Pajero Manufacturing Co., Ltd.
1. Reason for production stop
In order to establish appropriate production capacity based on the new mid-term plan, we have decided to stop production and close the factory of Pajero Manufacturing Co., Ltd. Vehicle manufacturing of Pajero Manufacturing Co., Ltd. will be transferred to Mitsubishi Motors Corporation's Okazaki factory.
2. Planned production stop date
First half of 2021(plan)
3. Corporate Profile
(1)Name: Pajero Manufacturing Co., Ltd.
(2)Business purpose: vehicle manufacture
(3)Established: December 30, 1943
(4)Head office: Sakahogi town, Gifu Prefecture
(5)Representative: Takayuki Sue
(6)Capital: 610 million Japanese Yen
(7)Investment ratio: 100%
4. Impact on financial results
Regarding the costs associated with this matter, we have posted 8,107 million Japanese Yen as part of business restructuring costs in the first-quarter financial report for the fiscal year ending March 31, 2021, which was announced today. It has also been incorporated into the consolidated earnings forecast for the fiscal year ending March 31, 2021.
Name of Company: Mitsubishi Motors Corporation
Representative: Takao Kato
Representative Executive Officer CEO
(7211 TSE 1st section)
Contact: Keiko Sasaki
General Manager, IR Office
(TEL.03-3456-1111)
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