Sojitz Divests from Mitsubishi Motors Philippines Corporation
Jun. 1, 2018
Sojitz Corporation (“Sojitz”) today announced that it has completed the sale of its 49% stake in Mitsubishi Motors Philippines Corporation (“MMPC”), the Philippines automobile manufacture and sales company, to Mitsubishi Motors Corporation (“Mitsubishi Motors”).
Sojitz jointly managed MMPC with Mitsubishi Motors up until the present, but has now reached an agreement to divest its shares in the company to its partner. After initially being approached with an offer from Mitsubishi Motors, Sojitz reviewed its portfolio before coming to a decision to divest. Sojitz’s automotive business will continue to use its resources to pursue newly developing business opportunities as it works towards its objectives of both strengthening business functions and accumulating assets for further growth.
Company Overview—Mitsubishi Motors Philippines Corporation (MMPC)
|Head Office||Santa Rosa, Laguna, Philippines|
|Representative Director||Mutsuhiro Oshikiri|
|Shareholders||Mitsubishi Motors Corporation 100%|
|Main Business||Assembly and sale of Mitsubishi-brand vehicles|
Company Overview—Mitsubishi Motors Corporation
|Established||April 22nd, 1970|
|Head Office||33-8, Shiba 5-chome, Minato-ku, Tokyo 108-8410 Japan|
|Representative Director||Osamu Masuko|
|Shareholders||Listed company on the Tokyo Stock Exchange|
|Main Business||Manufacture and sale of automobiles|