Mitsubishi, the third alliance partner not controlled by Renault

Mitsubishi, the third alliance partner not controlled by Renault

As major maneuvers loom between Renault and Nissan to rebalance their alliance, one question arises: but who is the third and smallest partner in the alliance formed in 1999 that is never talked about? Mitsubishi Motors (MMC) has a special feature. This “small” Japanese manufacturer is in no way dependent on … Renault. If the French own 43.4% of Nissan, MMC owns 34% Nissan! It was Carlos Ghosn, then dual CEO of Renault and Nissan, who carried out this operation in October 2016. Secretly. He had directed a Japan-Japanese operation that had the advantage of not involving the ubiquitous French state, a 15 percent shareholder in Renault. However, Carlos Ghosn had just emerged from his famous standoff the previous year with Emmanuel Macron, François Hollande’s economy minister, over the French state’s famous double votes that had rocked the alliance!

MMC comes a long way. The manufacturer was on the edge of the abyss two years ago. However, just on November 2, it raised its earnings forecast (by half) for its net income for the current fiscal year (January 1).is April 2022 to March 31, 2023) to 140 billion yen (about 1 billion euros). The manufacturer would suddenly post a 90% higher profit compared to the previous year 2021-2022. One hell of a jump. The annual operating profit is now estimated at 170 billion yen (1.2 billion euros, +95% over one year). MMC therefore expects a respectable margin of 6.7% for the year (4.3% a year earlier). With a sales increase of a quarter, even if sales should fall slightly to 908,000 units (-3%).

Reference: www.challenges.fr

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