TOKYO – Expectations were not high three years ago when Osamu Masuko took over as president of Mitsubishi Motors Corp. The auto maker had just completed its third restructuring plan in six years and was facing a ¥128.5 billion ($1.2 billion) operating loss, raising its 2-year shortfall to ¥225.4 billion ($2.1 billion). Additionally, Mitsubishi’s global sales had fallen 20% over the previous five years, and nine months earlier partner DaimlerChrysler AG was forced to pack its bags and ...

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