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Former Mitsubishi CEO Osamu Masuko dies at 71

TOKYO — Former Mitsubishi Motors Chief Executive Osamu Masuko, who engineered the Japanese automakerÂ’s alliance with Nissan, has died. He was 71. Masuko was named a special adviser to the company when he resigned for health reasons as of Aug. 7. Mitsubishi said he died of heart failure on Aug. 27. Masuko joined with former Nissan Chairman Carlos Ghosn in forming an alliance in 2016. Ghosn was arrested and charged with alleged financial misconduct in late 2018, but skipped bail and fled to Lebanon. After he was named president of Mitsubishi Motors in 2005, Masuko worked hard to rebuild its brand image, which had been hammered by a massive, systematic and decades-long cover-up of defects that surfaced in the early 2000s. Calm and soft-spoken, Masuko came to symbolize Mitsubishi Motors' revitalization. Masuko had said he was stunned and saddened by Ghosn's arrest. “I still canÂ’t figure out why, and I just donÂ’t understand,” he told reporters then. Nissan Chief Executive Makoto Uchida offered his condolences. “His wisdom and foresight will remain as an inspiration to the automotive industry, and we will always honor his memory,” Uchida said, stressing his role in building the alliance as well as other contributions to the overall auto industry. Mitsubishi's alliance with Nissan and Renault of France was seen as an astute move, giving the automakers an edge in an increasingly competitive global market. “During his tenure for about 16 years at MMC, Masuko made great achievements by fully demonstrating his management skills, which also enabled the company to overcome difficulties,” Mitsubishi Motors said. Masuko helped build the companyÂ’s business in Southeast Asia, a key source of growth. He also aggressively pushed the development of greener models. Masuko studied political science and economics at Waseda University and did not have an engineering background. He joined trading company Mitsubishi Corp. in 1972. In 2004, he joined Mitsubishi Motors, which makes the Pajero and Outlander sport utility vehicles, as managing director of its overseas operations. Tokyo-based Mitsubishi Motors said it is not planning any special services, respecting MasukoÂ’s wishes. The family has already held a vigil and funeral, it said. Related Video:

Mitsubishi boss confirms new Mirage for US; i EV enduring dismal sales

By March, Mitsubishi expects to have sold just 55,000 cars in the US this fiscal year. That's a tiny sum - by comparison, Honda has sold over 276,000 Civic models thus far this year - and that's just one vehicle, not an entire brand. Mitsubishi president Osamu Masuko recognizes this is not a tenable position, and he's hoping the company will shift 80,000 units next fiscal year. Warding off speculation, Masuko has repeatedly stated that his company will not retreat from the US market like competitor Suzuki.
We reported on one part of Masuko's plan, the updated Outlander, and now he has confirmed that the small Mirage will be sold in the US beginning next September. The cut-price hatchback is selling well enough that Mitsu's Thailand plant is at its full capacity of 150,000 cars. "And even at that level it's not keeping up with orders," Masuko tells Automotive News. Masuko went on to say the plant would be expanded next year to handle an extra 50,000 units. We can also expect the Outlander plug-in early 2014.

Macron and Abe seek to avert messy Renault-Nissan breakup

TOKYO/PARIS – France and Japan's leaders met for bilateral talks to avert a diplomatic row over the Renault-Nissan-Mitsubishi alliance on Friday following the surprise arrest of its Chairman Carlos Ghosn in Japan. With the carmaking alliance facing its biggest test after the ousting of Ghosn at Nissan and affiliate Mitsubishi over financial misconduct allegations, President Emmanuel Macron sat down with Prime Minister Shinzo Abe at the G20 summit in Buenos Aires. Ghosn's arrest to face accusations including the under-reporting of income has triggered new attempts by Nissan to weaken Renault's control of the Franco-Japanese alliance, adding to challenges facing Macron at home. Macron, whose government has repeatedly pressed Japan to share evidence unearthed by Nissan's internal investigation into Ghosn, "restated his firm wish that the alliance should be preserved, along with the stability of the group," an Elysee official said after Friday's meeting with Abe. Abe said it was important to "maintain a stable relationship," according to a spokesman for the Japanese leader. "However, he said the future of the alliance is up to the private-sector shareholders. The government of Japan does not prejudge the future of the alliance," the spokesman said. The French official quoted Abe as telling Macron that "the legal process must be allowed to take its course." LEADERLESS Tokyo authorities on Friday extended Ghosn's detention for a second time, by the maximum-allowed 10 days, local media reported. Prosecutors must file charges by Dec. 10 or arrest Ghosn for new crimes to hold him beyond that date. Tokyo prosecutors declined to comment. Nissan did not immediately respond to a request for comment. Ghosn's detention has left the global auto alliance without its leader and main interlocutor with the French government, which owns 15 percent of Renault and wants to maintain the ownership structure enshrining its control of the partnership. But Nissan Chief Executive Hiroto Saikawa has made clear that Nissan wants to weaken the control of its smaller parent as it carries out a governance review. Renault's 43.4 percent Nissan stake ensures an effective voting majority at shareholder meetings, while Nissan's reciprocal 15 percent Renault holding carries no voting rights.