VENTURE CAPITAL POST

Mitsubishi Motor Cop. announced its intention to invest nearly P4.3 billion in order to commence its production of sedan and hatchback styles of Mirage model in Philippines. The investment activity will help the company to withstand the global economic slowdown.

Japanese automobile major Mitsubishi Motors Corp has begun the process of closing down operations in the US. Mitsubishi had put on its sole US manufacturing unit on the block, but couldn't find a suitable buyer and decided to close the shop.

French automaker Renault SA and its Japanese partner Nissan Motor Co continue to increase savings through synergies and can meet longer-term goals without expanding its current alliances, Chief Executive Carlos Ghosn told Reuters on Wednesday.

Japan's auto recall enforcement division, whose 16 members work from a cramped office on the eighth floor of the transport ministry building in Tokyo, only found out about safety issues with Takata Corp air bags in late-2008 - more than three years after the company says it first learned of problems.

Japan's Mitsubishi Motors Corp (7211.T) will invest $600 million to set up its first multi-purpose vehicle factory in Indonesia, aiming to capitalise on strong demand for the segment in the country as well as to export to other markets in Asia.

Mitsubishi Motors Corp., which was bailed out by other Mitsubishi companies almost a decade ago, seeks to raise up to ¥241.6 billion ($2.3 billion) in a share sale. The said proceeds will enable it to resume dividend payments for the first time in more than 15 years.

Renault SA, Nissan Motor Co and Mitsubishi Motors Corp expanded its existing joint venture to effective save production costs.

The purpose of Mitsubishi Motors Corp's public share offer is to pay back shareholders through the buyback of preferred shares.