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| Nissan and Mitsubishi Motors confirm tie-up talks | Nissan and Mitsubishi Motors confirm tie-up talks |
| (about 5 hours later) | |
| Japanese car makers Mitsubishi Motors and Nissan have confirmed talks of a capital tie-up as the former struggles with a scandal over falsifying fuel efficiency. | |
| Trading in Mitsubishi Motors' shares was suspended on Thursday. | Trading in Mitsubishi Motors' shares was suspended on Thursday. |
| Local media reports suggest Nissan will take a one-third stake in its rival to become the single largest shareholder. | Local media reports suggest Nissan will take a one-third stake in its rival to become the single largest shareholder. |
| In the wake of the scandal, Mitsubishi Motors had seen its market value drop by more than 40%. | In the wake of the scandal, Mitsubishi Motors had seen its market value drop by more than 40%. |
| In April, the carmaker admitted it had used fuel consumption tests that broke Japanese rules for the past 25 years. | In April, the carmaker admitted it had used fuel consumption tests that broke Japanese rules for the past 25 years. |
| 'Nothing decided' | 'Nothing decided' |
| The rigged testing meant that the cars were advertised as being more fuel-efficient than they actually were. | The rigged testing meant that the cars were advertised as being more fuel-efficient than they actually were. |
| The inaccurate tests were in fact flagged up by Nissan's in-house testing on several models produced by Mitsubishi for its fellow Japanese carmaker. | The inaccurate tests were in fact flagged up by Nissan's in-house testing on several models produced by Mitsubishi for its fellow Japanese carmaker. |
| "Nissan and Mitsubishi are discussing various matters including capital co-operation, but nothing has been decided," the two companies explained in separate statements on Thursday. | "Nissan and Mitsubishi are discussing various matters including capital co-operation, but nothing has been decided," the two companies explained in separate statements on Thursday. |
| They said their boards of directors were to meet in separate talks on Thursday to discuss the matter. | They said their boards of directors were to meet in separate talks on Thursday to discuss the matter. |