Mitsubishi Company Task Force Drawing up Rehab Plan for Mitsubishi Motors

TOKYO April 25, 2004; Japan Today and Kyodo News reported that a Mitsubishi group task force on Saturday began compiling a new business rehabilitation plan for ailing Mitsubishi Motors Corp, following a surprising pullout decision by stakeholder DaimlerChrysler AG.

The task force will focus on similar points which the Mitsubishi group had worked out with the German-American auto giant — consolidation of manufacturing bases, drastic cuts in the workforce, developing new model vehicles and capital injections — but will have to make the plan much smaller in size, informed sources said.