Regarding media reports on the arrest of the Chairman of the Board of Mitsubishi Motor Corporation
Tokyo – Mitsubishi Motors Corporation (MMC) today announces that media outlets reported MMC's Chairman of the Board and Representative Director, Carlos Ghosn, had been arrested by Tokyo District Public Prosecutors Office on the charge of filing annual securities reports containing fake statement, in breach of the Financial Instruments and Exchange Act.
In response to the arrest of Ghosn, and since the alleged misconduct is related to a corporate governance and compliance issue, it is to be proposed to the Board of Directors to promptly remove Ghosn from his position as MMC's Chairman of the Board and Representative Director.
We will readily conduct an internal investigation on whether Ghosn has been engaged in the misconduct like the above within MMC.
MMC deeply apologizes for any concern caused by the recent event.
About Mitsubishi Motors Corporation
Mitsubishi Motors Corporation is a global automobile company based in Tokyo, Japan, which has a competitive edge in SUVs and pickup trucks, electric and plug-in hybrid electric vehicles. Since the Mitsubishi group produced its first car more than a century ago, we have demonstrated an ambitious and often disruptive approach, developing new vehicle genres and pioneering cutting-edge technologies. Deeply rooted in Mitsubishi Motors' DNA, our brand strategy will appeal to ambitious drivers, willing to challenge conventional wisdom and ready to embrace change. Consistent with this mindset, Mitsubishi Motors introduced its new brand strategy in 2017, expressed in its "Drive your Ambition" tagline – a combination of personal drive and forward attitude, and a reflection of the constant dialogue between the brand and its customers. Today Mitsubishi Motors is committed to continuous investment in innovative new technologies, attractive design and product development, bringing exciting and authentic new vehicles to customers around the world.
About Mitsubishi Motors North America, Inc.
Mitsubishi Motors North America, Inc., (MMNA) is responsible for all research and development, marketing, and sales for Mitsubishi Motors in the United States. MMNA sells sedans and crossovers/SUVs through a network of approximately 360 dealers. MMNA is leading the way in the development of highly efficient, affordably priced new gasoline-powered automobiles while using its industry-leading knowledge in battery electric vehicles to develop future EV and PHEV models. Mitsubishi has been producing cars for over 100 years. For more information, contact the Mitsubishi Motors News Bureau at (888) 560-6672 or visit media.mitsubishicars.com.
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