Monday, March 31, 2014

Restructuring of Production Capability in the Philippines

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Restructuring of Production Capability in the Philippines

TOKYO, March 31, 2014 - Mitsubishi Motors Corporation (MMC) announced that Mitsubishi Motors Philippines Corporation* (MMPC) has acquired a factory site from FORD MOTOR COMPANY (PHILIPPINES), INC. located in Laguna (Laguna Province). Following the relocation of MMPC's current headquarters/factory in Cainta (Rizal Province) to this site, vehicle production is set to begin in January 2015.

* Mitsubishi Motors' producer and distributor in the Philippines.

MMC has operated production and sales in the Philippines for many years and has grown continuously along with the automobile market development of the country, becoming the first car manufacturer in the country to achieve a cumulative production volume of 500,000 units. The move this time to relocate MMPC's headquarters/factory and reform its production capability reflects MMC's will to prepare for its further growth in the promising Philippine market.

One major pillar of MMC's New Stage 2016 next mid-term business plan, which is to start from April 2014 is to reinforce its production base in ASEAN countries. Strengthening local production capability in the Philippines will be a part of that pillar. With the long history of operation rooted in the market, MMC has successfully attained high market share in the country. Moving forward, MMC plans to expand its presence in the Philippines by further strengthening its operating base in the country through various measures including but not limited to the restructuring of its production capability this time.

Outline of MMPC (Mitsubishi Motors Philippines)

Established: May 1972
Headquarters: Cainta, Rizal Province
Capital: 1.64 billion PHP
Scope of operations: Production and sales of MMC vehicles
Representative: Hikosaburo Shibata, President
Stockholders: MMC 51%, Sojitz Corporation 49%
Production capacity: 30,000 units/year
Product lineup:
-Philippine-made: Lancer EX, Adventure, L300
-Thailand-made: Mirage, Mirage G4 (Attrage in some markets), Montero Sport (Pajero Sport or Nativa in some markets), L200, Strada (Triton in some markets)
-Japan-made: ASX (Outlander Sport or RVR in some markets), Montero (Pajero in some markets)
Market share/2013CY sales: 20.5%/42,360 units