Mitsubishi announced plans to repurchase a substantial portion of its shares from Nissan, with an order placed on the Tokyo Stock Exchange to buy up to 149,028,300 shares at approximately $3.01 per share. This buyback will reduce Nissan’s current stake in Mitsubishi from 34.07% to 24.05%, effectively altering Nissan’s influence in the company. Despite the sale, Mitsubishi emphasised that both brands will continue their alliance and collaboration on vehicle projects.

Although specific collaborative projects were not detailed, Mitsubishi and Nissan are both part of the Renault-Nissan-Mitsubishi Alliance, which includes joint efforts in various global markets. In the U.S., for instance, the Nissan Rogue serves as the base for Mitsubishi’s Outlander. Looking forward, the alliance is expected to introduce multiple jointly developed models, including a mid-size pickup aimed at the U.S. market.

This buyback coincides with Nissan’s restructuring efforts, including a global workforce reduction of 9,000 jobs and a 20% cut in production capacity. Nissan has also adjusted its financial projections, lowering its annual operating profit forecast by 70% to $975 million, with further cost-cutting measures planned to reduce administrative expenses. While there was no official linkage between Nissan’s restructuring and Mitsubishi’s buyback, the move could be a response to Nissan’s recent financial challenges and disappointing sales figures.