Stuttgart – In an extraordinary meeting on April 22, 2004, the Board of Management and the Supervisory Board of DaimlerChrysler have decided not to participate in a capital increase planned by Mitsubishi Motors Corporation (MMC) and to cease further financial support for MMC.
After the earnings collapse of MMC in fiscal 2003, MMC has established a new business plan with the strong support of DaimlerChrysler. According to this plan, substantial financial resources are required to guarantee a sustainable financial recovery of the company. Together with the major shareholders of the Mitsubishi Group DaimlerChrysler has tried hard to establish a solid financial structure. However, it was not possible to find a solution leading to an acceptable result for DaimlerChrysler.