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Nissan names Makoto Uchida as next CEO

TOKYO — Nissan named Makoto Uchida, the head of its Chinese business, as its next CEO, picking an executive known for close ties to top shareholder Renault and for a frank, straight-talking manner that has marked him as an outsider. By selecting Senior Vice President Uchida, Nissan's board has gone with someone slightly at odds with its traditional corporate culture. He joined the carmaker mid-career in 2003, a rarity in a country where top executives usually spend their entire working lives at the same company. Known for his unflagging work ethic and relentless focus on cost control, Uchida was described by one long-time associate who spoke on condition of anonymity as a "foreigner with a Japanese face" — direct and to the point in conversations. He will be joined by newly appointed Chief Operating Officer (COO) Ashwani Gupta, currently COO of junior partner Mitsubishi Motors, in trying to find new ways to revive a business that has been struggling for months with plunging profits, management scandal and tensions with Renault. Japan's second-largest automaker has been shaken in particular by the arrest of former Chairman Carlos Ghosn last year on allegations of financial misconduct, which he denies, and the more recent departure of CEO Hiroto Saikawa after he admitted to being improperly overpaid. Whether the 58-year-old former theology student can deliver a miracle turnaround — particularly at Nissan's business in the United States — and repair ties with Renault will now be a focus for investors. "The biggest business challenge for Nissan is speeding up," the head of Nissan's nominations committee, Masakazu Toyoda, told a news conference. "Speedy decision making is a challenge that Uchida raised, and to this end he said that he wants to empower people as much as possible, so we decided to ask Uchida to take on the CEO role." One source close to Renault described the selection as "a victory for the alliance", saying that both Uchida and Gupta knew the business and were ready to help Nissan recover. 'ISN'T REALLY JAPANESE' Before his ouster, Ghosn had been working on a plan for a full merger of Renault and Nissan, but had met resistance in Japan, which is concerned about French influence in the alliance. The French government is a major Renault shareholder. Relations were further strained this year when Renault held abortive merger talks with Fiat Chrysler Automobiles.

Mitsubishi shows five concepts headed to the 2020 Tokyo Auto Salon

Mitsubishi will storm the 2020 Tokyo Auto Salon with seven concepts, five based on production models getting early previews. This year's haul more than doubles the trio of concepts Mitsubishi took to this year's Tokyo Auto Salon, and it's obvious the company put more effort into all of them as well. The wildest among the five could be the Delica D:5 imagined by Japanese director, producer and writer Teruo Ito. With the idea to rework the Delica into the idea of embodying charm "like a dog or a member of a family," Ito threw out the van's rectangular headlights, working with Mitsubishi designers to replace them with large round units inset like eyes. The anthropomorphic face is so important that the concept is apparently called the "D:5 eye," according to Google Translate. The van wears a "light army green" hue from its roof to its MLJ Daytona wheels, the interior done up in a olive tartan pattern.   Right behind it in the "Look at me!" stakes is the eK Cross Wild Beast Concept, a contrast to the "Cute Beast" that is the standard eK kei car. Drenched in yellow, with gray X graphics, a contrasting black roof and tailgate, black cladding, mud flaps, chunky rocker panels, roof rack and basket, and all-terrain tires, this one is meant to evoke a "playful outdoor image." In case the striking livery doesn't convey the message, the command to "Play the Nature" appears on the hood, roof rack and fuel filler cap. Inside, all-weather floor mats and a load bay mat stand ready to protect the interior from mud. Or Play-Doh. The Mitsubishi Outlander PHEV NERV is the widest combination of real and imaginary usefulness. Re: the latter, NERV is the fictional Japanese paramilitary organization that battles creatures called Angels in the "Neon Genesis Evangelion" anime. Warfare between the Evangelion units and the Angels tends to destroy a lot of animated real estate, hence the usefulness of a disaster relief vehicle like the Outlander PHEV, coordinated by the Gehirun Corporation that's also in the anime. For real-world service, designers installed a KYMETA u7 planar satellite antenna that can pick up signals from Sky Perfect JSAT Corporation — a Japanese-based satellite television and Internet company, and the Asia-focused Michibiki emergency broadcast and GPS service.

Mitsubishi Motors posts surprise loss as car sales slide

TOKYO — Mitsubishi Motors on Friday posted a surprise operating loss in the third quarter, its worst quarterly performance in more than three years, hurt by falling sales in China, Japan and Southeast Asia, as well as a stronger yen. The carmaker posted an operating loss of 6.6 billion yen ($60.2 million) for the October-December quarter, widely missing an average forecast for a profit of 11.6 billion yen, based on analyst estimates compiled by Refinitiv. It was the firm's biggest loss since the July-September 2016 quarter, when a mileage cheating scandal sapped profits. However, Mitsubishi stuck to an earlier forecast for a 73% drop in full-year operating profit to 30 billion yen in the fiscal year ending in March. The automaker's net loss for the quarter just ended came in at 14.4 billion yen. The fall in quarterly sales was worst in China and at home, while sales also slipped in ASEAN countries, traditionally a stronghold, leading to a 16% fall in global vehicle sales to 320,000 units. The automaker also said it would keep some of its offices in China closed through Feb. 9, as a new coronavirus spreads throughout the country and beyond. The automaking alliance of Mitsubishi, Renault and Nissan on Thursday said they had "no other option" but to drastically improve their joint operations to remain competitive in the fast-changing global auto industry. Related Video:           (Reporting by Naomi Tajitsu; editing by Richard Pullin) Earnings/Financials Mitsubishi