Update Regarding Mitsubishi Motors Initiatives in Myanmar

Update Regarding Mitsubishi Motors Initiatives in Myanmar
Mitsubishi Motors Corporation
Mitsubishi Corporation
Yoma Strategic Holdings Ltd.
First Myanmar Investment Company Ltd.

TOKYO, December 12, 2013 - Mitsubishi Motors Corporation (MMC), Mitsubishi Corporation (MC), Yoma Strategic Holdings Ltd (YSH) and First Myanmar Investment Co., Ltd (FMI) have been working together on building a service structure for inspection, maintenance, and repair of MMC brand vehicles in the Republic of the Union of Myanmar (Myanmar), following Myanmar's recent deregulation of automobile importation and in consideration of the many MMC brand vehicles already on the road there, distributed mainly through the country's used car market.

As a part of these efforts, a second After-Sales Service Center was established on December 5 in Mandalay.

By establishing the second After-Sales Service Center located in Mandalay following the one established in Yangon this May, services for almost 80% of MMC-brand vehicles currently on the road in Myanmar will be covered. Expanding the after-sales service structure using MMC know-how will contribute to strengthening MMC's brand image prior to commencement of its new car sales.

As part of initiatives towards the Myanmar market, MMC announced its intention in October to commence new car sales in Myanmar. Now MMC, MC, YSH and FMI are under discussions regarding establishment of a joint venture for new vehicle sales and after-sales service in preparation for an expected rapid development and growth of the economy as well as the automobile market in Myanmar.

In addition to the aforementioned new vehicle sales and after-sales service business, MMC, MC, YSH and FMI are discussing additional possibilities for mutual cooperation in Myanmar in the future, including local production.