Mitsubishi Motors' top executives are taking pay cuts to take responsibility for the Japanese automaker’s financial losses. Like other automakers, Mitsubishi Motors Corp. has seen its sales plunge amid the coronavirus pandemic.
In this image from a video provided by Mitsubishi Motors Corp., Chief Executive Takao Kato speaks during its shareholders meeting Thursday, June 18, 2020. Mitsubishi Motors told shareholders Thursday that top executives are getting pay cuts to take responsibility for the Japanese automaker’s financial losses.
TOKYO — Mitsubishi Motors told its shareholders Thursday that its top executives are taking pay cuts to share responsibility for the Japanese automaker’s financial losses. Like other automakers, Mitsubishi Motors Corp. has seen its sales plunge amid the coronavirus pandemic. It reported a 25.8 billion yen loss for the fiscal year ended in March.
The meeting, which lasted about a half hour, was streamed online. Stock owners were asked not to come to the meeting because of the outbreak. Only 30 seats were provided, placed apart for social distancing.
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