Mitsubishi plans cost cuts

Mitsubishi Motors said it would count on rapid expansion in emerging markets and big cost cuts to double its operating profit in three years, anticipating a resumption of dividends in the year to March 2014. Announcing a new three-year business plan yesterday, Mitsubishi Motors, one of Japan's smallest automakers, said it would target a 37 per cent jump in sales of Mitsubishi-brand vehicles to 1.37m vehicles by 2013/14. The figure is lower than the 1.5m vehicles flagged by president Osamu Masuko last June.

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