Mitsubishi Tokyo Financial Group Inc. and other group firms are considering providing roughly 100 billion yen in financial aid to embattled Mitsubishi Motors Corp., the Nihon Keizai Shimbun reported Friday.
The major lender hopes that the aid package will include about 30 billion yen in loans from the Development Bank of Japan. It aims to enhance the transparency of the automaker's rehabilitation program by tapping the government-affiliated financial institution.
Mitsubishi Motors is expected to draft a new rehabilitation plan possibly by mid-December that features expanded cooperation with Nissan Motor Co., the business daily said.
The Development Bank of Japan, which provided the struggling supermarket chain operator Daiei Inc. with 10 billion yen in 2002, is expected to decide on the case by assessing the potential impact that a Mitsubishi Motors' failure could have on local economies, the report said.
