Mitsubishi Motors Acquires Its Own Shares From Nissan

November 8, 2024 by Mitsubishi

Mitsubishi Motors Corporation (hereafter, Mitsubishi Motors) today announced that it has decided to acquire up to 149,028,300 shares (representing 10.02% of the total number of issued shares, excluding treasury shares) from Nissan Motor Co., Ltd. (hereafter, Nissan), reducing Nissan's current 34.07% stake (506,620,577 shares) in Mitsubishi Motors.

At 8:45 a.m. on November 8, 2024, a consigned purchase order will be placed with the Tokyo Stock Exchange off-auction own share repurchase trading system (ToSTNeT-3) at the price of JPY 460.6 per share, which is the closing price (including final special quote) for today, November 7, 2024 (no changes to other transaction systems or transaction times will be made). The purchase order will be valid at the transaction time specified above.

In light of the recent trend to reduce cross-shareholdings, Mitsubishi Motors has decided to repurchase its own shares from Nissan Motor after considering ways to improve capital efficiency and expand shareholder returns.

Mitsubishi Motors and Nissan will continue their collaborative efforts to drive innovation and deliver exceptional value to their stakeholders. Together, the Alliance companies are actively engaged in high-value creation projects that respond to evolving industry trends.