Nissan Motor Corporation is said to be negotiating the purhcase of a 30% of the capital equity of Mitsubishi Motors, as reported by Nikkei Asian Review on 11th May.
If both automakers finally agree on the terms of the transaction, Nissan Motor would become the main shareholder of Mitsubishi Motors, even leafrogging Mitsubishi Heavy Industries who currently owns the 20% of the capital of Mitsubishi Motors.
The total investment to be made by Nissan in Mitsubishi Motors is around Yen 200Bn ($1.84Bn).
Nissan and Mitsubishi Motors currently partner in a 50%-50% joint venture focused in the design of minicars that are manufactured by Mitsubishi and then sold by Nissan.
Mitsubishi’s purchase by Nissan comes among another certification scandal analog to that of Volkswagen affecting the mini cars designed by Nissan- Mitsubishi joint venture.
On 20th April 2016 Mitsubishi Motors explainde that the comapany had discovered that fuel consumption testing data submitted to the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) in Japan had been improperly presented in order to improve fuel consumption rates.
The miss certification affected teh following mini car models: Mitsubishi eK Wagon, Mitsubishi eK Space, the Nissan Dayz and Nissan Roox
Despite the company stopped the manufacturing of those models, this scandal has been pushing down the market value of Mitsubishi’s shares and the sales in Japan of the mini cars designed by the j-v.
The sale of the mini cars manufactured by Mitsubishi provides nearly the 30% of Nissan’s sales volume in Japan.