Mitsubishi Corp.OTCPK - Current
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  • Nov. 5, 2015, 3:13 AM
    • Takata (OTCPK:TKTDY) shares fell by a quarter on Thursday as Mitsubishi Motors (OTCPK:MSBHY) and Mazda (OTCPK:MZDAY) became the next automakers to question the safety of its air bag inflators, casting further doubts on the future of the company.
    • The decisions to consider switching away from the component came a day after Honda (Takata's biggest customer) said it would no longer use the inflators.
    • Air bag parts contributed 38% of Takata's total sales last year. The company reports its first-half results on Friday.
    | Nov. 5, 2015, 3:13 AM
  • Sep. 30, 2015, 3:52 AM
    • Rio Tinto (NYSE:RIO) has agreed to sell its 40% stake in the the Bengalla coal mine in eastern Australia to New Hope (OTCPK:NHPEF) for $606M in a deal that could signal Rio's eventual exit from coal.
    • Rio has also taken full control of its Coal & Allied subsidiary, which manages mines in the Hunter Valley region of Australia's New South Wales state, from Japan's Mitsubishi (OTCPK:MSBHF). The latter will swap its 20% holding in Coal & Allied for a 32.4% stake in the Hunter Valley operations.
    • The transactions come amid soft demand for coal, oversupply and low prices. (PR)
    • Rio's shares are +1.9% in London.
    | Sep. 30, 2015, 3:52 AM
  • Aug. 28, 2015, 7:47 AM
    • Mitsubishi (OTCPK:MSBHY) is buying a 20% stake in Olam International (OTCPK:OLMIY), valuing the agri-trader at about $5.5B.
    • Olam said it will issue 332.7M new shares to Mitsubishi at S$2.75 per share, amounting to about 12% of its total capital.
    • The Japanese company will also buy about 222M secondary shares from the founding Chanrai family, representing about 8% of Olam.
    | Aug. 28, 2015, 7:47 AM
  • Aug. 18, 2015, 2:23 AM
    • The two explosions in the Chinese port of Tianjin last week could generate total insurance losses of $1B-$1.5B, Credit Suisse analysts said, citing initial estimates based on media reports.
    • Over 8,000 vehicles worth about $625M were destroyed in the blasts, including cars made by Volkswagen (OTCQX:VLKAY), Toyota (NYSE:TM), Renault (OTCPK:RNLSY), Hyundai (OTC:HYMLF) and Mitsubishi (OTCPK:MSBHY), while damage is still being assessed in other sectors.
    • Zurich Insurance (OTCQX:ZURVY), Allianz (OTCQX:AZSEY) and other groups say they have already received insurance claims but could not provide an estimate of potential losses.
    | Aug. 18, 2015, 2:23 AM | 1 Comment
  • Sep. 22, 2014, 6:42 AM
    • In yet another move expanding its foods business, Mitsubishi (OTCPK:MSBHY) has offered to buy Norwegian fishery Cermaq (OTC:CRMQY) for 8.9B kroner ($1.4B). The offer is 14% more than Cermaq’s closing price on Sept. 19.
    • Norway's Ministry of Trade, Industry and Fisheries, Cermaq’s biggest shareholder (with a 59.2% stake) says it’s prepared to sell its shares to Mitsubishi, although it could switch to another buyer if presented with a more attractive offer.
    | Sep. 22, 2014, 6:42 AM
  • May 1, 2012, 3:47 AM

    Aussie oil producer Woodside Petroleum (WOPEY.PK) plans to sell a stake in its giant Browse natural gas project to Mitsui and Mitsubishi for $2B. The two Japanese firms will also work with Woodside to market LNG to the Asian market and to help Woodside raise money to finance the project. (PR)

    | May 1, 2012, 3:47 AM
  • Apr. 12, 2012, 2:27 AM
    Shell (RDS.A), Mitsubishi Corp., China National Petroleum and Korea Gas Corp are in the final stages of talks to build a $12.35B liquefied natural gas terminal on Canada's west coast, according to a report in business daily Nikkei. A broad agreement is expected as soon as this month.
    | Apr. 12, 2012, 2:27 AM | 3 Comments