Nissan, M’bishi firms to keep 51% stake in M’bishi Motors for a decade

TOKYO — Nissan Motor Co. and three Mitsubishi group firms have agreed they will maintain their combined stakes in Mitsubishi Motors Corp. pegged at a minimum of 51 percent from October through the next decade to provide long-term, stable support to the carmaker mired in a data manipulation scandal, a source close to the matter said Saturday.

Nissan, Japan’s second-largest automaker by sales volume after Toyota Motor Corp., agreed in May to take a 34 percent chunk of Mitsubishi Motors for 237.3 billion yen (USD 2.3 billion) becoming the company’s largest shareholder.

Nissan initially planned to keep its holdings in the new partnership for three years under the deal, to be completed in October. PNA/Kyodo/