Mitsubishi

Nissan just announced their plan to spend 237 billion yet ($2.2 bn) to hold a 34% stake in Mitsubishi, making Nissan the company’s single largest shareholder. “We are determined to preserve and nurture the Mitsubishi Motors brand,” Nissan CEO Carlos Ghosn said. “We will help this company address the challenges it faces, particularly in restoring …

Japanese auto corporation Mitsubishi has made a formal apology regarding their use in World War II of US POWs as forced labor. Senior executive Hikaru Kimura expressed regret at a ceremony in Los Angeles that prisoners had been put to work in mines operated by the company. One of the few surviving POWs, James Murphy, 94, was …