October 21, 2016 / 9:32 AM / 2 years ago

Nissan says no plans to raise Mitsubishi Motors stake now, may in future

Shadows of Carlos Ghosn (L), Chairman and CEO of the Renault-Nissan Alliance and Mitsubishi Motors Corp's Chairman and CEO Osamu Masuko are seen during their joint news conference in Tokyo, Japan, October 20, 2016. REUTERS/Issei Kato

TOKYO (Reuters) - Nissan Motor Co Ltd (7201.T) on Friday said it had no plans at the moment to increase its shares in Mitsubishi Motors Corp (7211.T) from its current 34 percent, while leaving the door open to raise its stake in the future.

“We don’t see any kind of necessity at this stage (to take over all of Mitsubishi Motors),” Nissan Chief Competitive Officer Hiroto Saikawa told reporters during a teleconference.

“In the event that the Mitsubishi group would like to reduce their stake, we are ready to increase ours,” he said.

Nissan on Thursday completed a deal to take a controlling stake in Mitsubishi, retaining the embattled automaker’s chief executive to help it recover from a mileage cheating scandal.

Reporting by Naomi Tajitsu

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