Mitsubishi Motors Corp. chief executive Yoichiro Okazaki said Tuesday that the company plans to start negotiations with the government in July to receive favorable tax treatment for its revival plan under the Industrial Revitalization Law.
If MMC qualifies for assistance, the company will have its tax payments mitigated when its capital increases.
The struggling automaker said it received 295 billion yen in capital from Mitsubishi Group companies earlier this month and plans to raise more funds by issuing 100 billion yen in common shares to investment fund Phoenix Capital Co. and 150 billion yen in preferred shares to JP Morgan Securities in mid-July.