Mitsubishi says executives will take pay cuts

Mitsubishi Motors told its shareholders on Thursday that its top executives are taking pay cuts to share responsibility for the Japanese automaker's financial losses.

"I hope we can gain your understanding," Chief Executive Takao Kato said on how, given the harsh conditions, there will be no dividends.

Like other automakers, Mitsubishi Motors Corporation has seen its sales plunge amid the coronavirus pandemic.

It reported a 25.8 billion yen ( 241 million) loss for the fiscal year ended in March.

The Tokyo-based maker of the Outlander sport utility vehicle and i-MiEV electric car has not given a projection for the current fiscal year because of uncertainties about the outbreak.

 

Asianet.in/ Desk: Asianet Online