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Mitsubishi scores record global operating profits

In the minds of many auto enthusiasts, Mitsubishi has become an afterthought. It has transformed from a company known for its turbocharged, all-wheel-drive rally machines into an automaker with a very boring lineup. Maybe we are being unfair, though. While the company doesn't have much of a performance presence anymore, the Japanese brand is doing quite well financially.
According to Reuters, Mitsubishi Motors had an operating profit of 123.4 billion yen ($1.2 billion) worldwide for the fiscal year that ended in March. That's twice as much as last year and a new all-time record for the Japanese automaker. It's even paying dividends to investors for the first time in 16 years, and its expected profit of 135 billion yen ($1.3 billion) in the new fiscal year matches a goal it had set for itself to achieve two years from now.
The automaker currently focuses much of its efforts on Southeast Asia, which accounts for about a quarter of its sales. It will put even greater attention there in the coming years with more local production, according to Reuters.

Japan calls Ghosn's escape inexcusable and vows tighter immigration checks

TOKYO — Japan's justice minister on Sunday called the flight of former Nissan Chairman Carlos Ghosn as he awaited trial on financial misconduct charges inexcusable and vowed to beef up immigration checks. Justice Minister Masako Mori said she had ordered an investigation after Ghosn issued a statement a few days ago saying he was in Lebanon. She said there were no records of Ghosn's departure from Tokyo. She said his bail has been revoked, and Interpol had issued a wanted notice. Departure checks needed to be strengthened to prevent a recurrence, Mori said. While expressing deep regret over what had happened, Mori stopped short of outlining any specific action Japan might take to get Ghosn back. Japan does not have an extradition treaty with Lebanon. “Our nationÂ’s criminal justice system protects the basic human rights of an individual and properly carries out appropriate procedures to disclose the truth of various cases, and the flight of a suspect while out on bail is never justified,” she said in a statement. MoriÂ’s statement was the first public comment by a Japanese government official after the stunning escape of Ghosn, once a superstar of the auto industry. Tokyo prosecutors issued a similar statement Sunday. They had opposed Ghosn's release on bail, arguing he was a flight risk. First arrested in November 2018, Ghosn was out on bail over the last several months, and more recently had moved into a home in an upscale part of Tokyo. He has repeatedly said he was innocent. His statement from Beirut said he was escaping injustice. Japan's justice system has come under fire from human rights advocates for its long detentions, the reliance on confessions and prolonged trials. The conviction rate is higher than 99%. Even if Ghosn had been found innocent, the prosecutors could have appealed, and the appeals process could have lasted years. Ghosn's trial was not expected to start until April at the earliest. During that time, he had been prohibited from seeing his wife, and was only allowed a couple of video calls in the presence of a lawyer. Ghosn had been charged with underreporting his future compensation and breach of trust in diverting Nissan money for his personal gain. Although the details of his escape are not yet clear, Turkish airline company MNG Jet has said two of its planes were used illegally, first flying him from Osaka, Japan, to Istanbul, and then on to Beirut, where he arrived Monday and has not been seen since.

Mitsubishi could race in rallies again, but not with a new Lancer Evo

Mitsubishi could make a long-awaited comeback to the world of rally racing in the coming years. It's open to injecting more performance into its range, but its need for speed won't spawn a new version of the Lancer Evolution. Speaking to investors during a shareholder meeting held in Japan, company boss Takao Kato explained the first step towards making quicker, more exciting cars was reviving the Ralliart brand in May 2021. "We plan to expand [Ralliart] to a wide range of models as genuine accessories first, but we will also consider involvement in rallies," the CEO stated, according to Japanese publication Response. Crucially, a racing program has not been approved yet. How a potential return to rallying would be orchestrated remains to be seen. In the past, Mitsubishi's rally superstar was the Lancer Evolution (pictured), which retired without a successor in 2015. The firm's current range consists of crossovers, SUVs, and pickup trucks with the exception of the Mirage, which is likely too small to credibly turn into a rally car. While it's tempting to speculate a return to racing will bring the Evo back to the range, even without a Lancer to build it on, Kato doused cold water on the years-old rumors mapping out the nameplate's future. He stressed a next-generation Evo is not in the pipeline, even though Mitsubishi's shareholders are requesting one. "Electrification is expensive, and we're still not strong enough. We ended the previous fiscal year with a big deficit," Kato said. "First, we need to revive the company. Then, we'll look into putting out the cars fans are waiting for." His plans to revive the company include launching a number of mainstream models in rapid-fire succession. The Mirage, the Eclipse Cross, and the Outlander Sport recently benefited from an array of updates, most of which were reasonably well received, and the new Outlander was unveiled earlier in 2021 with dramatic improvements. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.