Mitsubishi Corporation Invests to Participate in Russian Automotive Distribution Company

Tokyo, Nov 9, 2009; Mitsubishi Corporation (MC) has purchased 40% of Rolf Import (RI), a Russian foreign automotive distribution company, and a subsidiary of Rolf Group of Companies (Rolf). MC has built a close working relationship with Rolf, Russia's leading automotive business group, and through collaboration with Rolf has proven results in Russia's automobile sales business over the past 17 years. The initial purchase price is 72 million US dollars with the scope of additional payments of up to 128 million US dollars contingent on the business performance results of RI.

RI has steadily expanded vehicle sales in Russia ever since the launch of MMC's dealer business in 1992. MMC's brand is highly valued for its high quality and sporty image and high-quality service. With an already established respected brand image, Mitsubishi vehicles have reached the foreign brand automotive market top 10 in terms of shares.

MC is focused on the mid-to-long term growth of Russia's automotive market, aiming to further strengthen the distribution business structure through its investment in RI.