Mitsubishi Heavy Industries Ltd., the biggest shareholder in Mitsubishi Motors Corp., will hold onto its stake in the automaker that Carlos Ghosn is seeking to turn around following a fuel-economy test scandal.
The maker of power plant equipment, aircraft and ships will refrain from selling its holdings in Mitsubishi Motors even as it plans to raise ¥200 billion for other businesses by selling shares and real estate, Masanori Koguchi, chief financial officer at Mitsubishi Heavy, said in an interview in Tokyo on Monday. Last month, Nissan Motor Co. Chief Executive Officer Ghosn rescued Mitsubishi Motors by agreeing to buy 34 percent of the company.
"We're not thinking of doing anything soon" with our Mitsubishi Motors shareholdings, Koguchi said, adding any action this year or next would be unlikely. "Its shares are low at the moment. We want to see what happens when things settle down," he said, when asked if the company had any intention to sell later.