BusinessBusiness RecoveryMitsubishi secures fresh funding

Mitsubishi secures fresh funding

More hope for turnaround of struggling car business

Mitsubishi Motors, the
struggling Japanese carmaker, has secured a £250m loan, which it hopes will help
it in its efforts to restructure the business.

The loan comes a year after German-US group
DaimlerChrysler sold a minority
stake in the carmaker, falling a recall scandal at Mitsubishi.

In 2004, Mitsubishi admitted it had hidden faults to avoid bad publicity.

There has been some good news for investors after Mitsubishi reported a
smaller-than-expected loss for the six months from April to September.

Mitsubishi is Japan’s only loss-making
carmaker. It hopes to
return to profit for the full financial year ending March 2007.

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