The Mitsubishi Fuso Truck and Bus Corp. recently announced that their parent company which is Daimler AG had raised its stake in this Japanese truck manufacturer. Because of this, the Mitsubishi Fuso Co.’s capital would be increased by almost 30 billion yen. This increased capital would be enough to bring the company out of its negative net amount of 16.9 billion yen that it logged in the financial year of 2009.
The truck manufacture now plans to create a more aggressive approach in its overseas markets by working more closely with their German group Daimler AG with its increased and stronger financial base. The Mitsubishi Fuso Company recently offered new shares to its German Daimler AG parent company in a private placement which tool place last month.
This deal will help to raise the German company’s interest in the Japanese truck manufacturer from 85 per cent to 89.2 per cent and ultimately decreased the stake of the Mitsubishi Group which also includes the Mitsubishi Corp and the Mitsubishi Heavy Industries Ltd. from 15 per cent to 10.7 per cent.
The German automobile manufacturer Mitsubishi Fuso has deemed the Japanese Mitsubishi Fuso a strong and important partner when it comes to working in the Asian market as well as the development of hybrid technologies. In the financial year of 2009, the Mitsubishi Fuso Bus and Truck Corp. suffered a net loss of 49 billion in the yen currency after it took some restructuring steps which included the closure of its bus assembling plant in Nagoya as well as when it cut down its work force.
The increased investment by the its parent company, the Daimler AG, a German automobile manufacturer, will give the Mitsubishi Fuso Co. an additional capital of around 30 billion in yen which will help the company to pursue its interests quite aggressively in the overseas market.
The Mitsubishi Fuso Co. is a Japanese automobile manufacturer which specializes in manufacturing commercial medium duty trucks. It also manufactures mini buses. The increased capital will prove beneficial for the Japanese automobile company by helping it cross out its negative net asset of the last financial year.