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Mitsubishi hopes to raise $2.5B with stock sale

Mitsubishi, which dates all the way back to 1870, is one of the oldest business collectives in Japan. Today, the various businesses that share the Mitsubishi name are largely independent of each other. The automotive unit, however, has fallen on hard times over the past few years.
Back in 2004 and 2005, Mitsubishi Motors sold billions of preferred shares to sister companies like Mitsubishi UFJ Financial Group, Mitsubishi Heavy Industries and Mitsubishi Corp. Now the automaker is preparing to buy back those shares, only to raise the capital, it's selling $2.5 billion worth of shares, simultaneously paying stock dividends for the first time in over 16 years.
The stock issue will reportedly include as many as 241 million shares at a value of $10.73 each. The move is part of a long-term reorganization being implemented by the automaker's president Osamu Masuko, and is expected to help the company double its net income and eliminate all outstanding preferred shares by the end of the fiscal year closing in March.

Junkyard Gem: 1998 Mitsubishi Eclipse with Lambo Doors

Front-wheel-drive sporty cars with wild body kits and eye-searing graphics became increasingly popular in North America during the 1990s, but it took the enormous mainstream success of the first Fast and Furious movie in 2001 to place bewinged sport compacts with giant tailpipes in every town from Nome to Naples. No doubt due to the narrative-enhancing role of the cop-purchased 2005 Mitsubishi Eclipse and its Robo Car Aero Armor body kit in The Fast and the Furious, the second-generation Eclipse (and its Eagle twin, the Talon) built by Diamond Star Motors in Illinois became the car to have by the middle 2000s… and the only way to improve on a full complement of flares, scoops, and wings was the conversion of the doors to use scissors-style aka Lambo hinge mechanisms. You'd think a car so equipped would be sufficiently desirable to stay on the happy side of the boneyard fence (Those are the doors of a billionaire, after all. -Ed), but such was not the case with this '98 in the Denver area. As we all know, there's no point in going to the expense and trouble of installing Lambo doors in your Eclipse if you haven't got a wing big enough to keep a Mitsubishi F-2 fighter plane aloft. Check! I find these graphics a bit too subdued, but then I'd have chosen a Mitsubishi Debonair AMG for customization in the first place. The body kit looks plenty mean, but hard times appear to have befallen this car quite a few years back. A bit over 150,000 miles show on the odometer, which is non-shabby for a DSM product. The engine is the Chrysler-sourced 2.0 DOHC unit originally designed for use in the Neon, rated at 140 horsepower. A 210-horse turbocharged Mitsubishi 2.0 could be had in the 1998 Eclipse/Talon, but the real gone cats added 14,000 horsepower worth of NOSSS. Someone loved this car enough to put plenty of sweat and dollars into it, and I felt saddened to see it come to such a fate. If it had had an automatic transmission, at least I could have consoled myself that it was built entirely for show. Nope, five-speed manual. The aftermarket wheels look rough, but they may have been sold anyway. This car has been crushed by now, but perhaps the Lambo door hardware got sliced out before then. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. So fast, it destroys wholesome farmhouses. The final model year for this generation of Eclipse was 1999.

Mitsubishi refreshes the Triton truck for 2019

In September, Mitsubishi showed a teaser image of the new, redesigned Triton/L200 truck that refreshes the model originally introduced in 2014. Now, the new truck is here, except not here in the sense of being sold in the United States. Alas, we can hope. The new Triton/L200 is a global truck in the sense that it'll be sold in some 150 countries around the world, from Europe to Africa and Oceania, the Middle East and Latin America, but North America isn't part of the plan. Sales start Nov. 17 in Thailand, where the truck is built. Some 180,000 global yearly sales are planned. Looking at the photos released by Mitsubishi, the truck's nose has gained the new corporate styling direction that can also be seen on the Outlander, the Eclipse Cross, and even the re-facelifted Lancer that is sold in some countries. The front design is called "Dynamic Shield" in corporate Mitsubishi language, pointing to the more pronounced grille-intake combo with chrome effect. Otherwise, the basics of the Triton remain as before, with the truck likely to keep the time-honored 4G64 2.4-liter gasoline engine and two inline four diesel options. There are two 4WD systems on offer, either Super Select or Easy Select. Like we said in September, the small truck segment is hotly contested in the U.S. right now, and the Triton, were it sold in the States, would compete against the Tacoma, the Colorado and the Canyon, the Ford Ranger, and a possible Ram truck that would slot underneath the 1500. But the 25 percent Chicken Tax it's subjected to as a foreign-built truck makes it impossible to compete. The currently sold Ranger T6 is originally of Australian design, and as well as being made in Michigan it is also produced in Thailand like the Triton. Related Video: