Phoenix Capital Co. is considering devising a plan to turn around the fortunes of Mitsubishi Motors Corp., according to Phoenix Capital President Yasushi Ando.
Phoenix Capital is the corporate revival fund set to become the top shareholder in MMC.
Ando said the corporate rehabilitation plan, possibly to be devised by the year's end, will feature measures to rebuild MMC's corporate philosophy and brand, which has been tarnished by a slew of recalls and vehicle defects coverups involving the trucks of its affiliate Mitsubishi Fuso Truck & Bus Corp.