Mitsubishi Motors Corp. unveils the details of a ¥450 billion ($4 billion) bailout plan that the company’s newly installed Chairman Yoichiro Okazaki calls “our last chance at survival as an auto maker.” The 3-year “MMC DNA” turnaround plan – which sees the company back in the black by next year – hinges on a 17% scale-back in global capacity including the closure of a plant in Japan; massive cuts to both the white- and blue-collar workforce and the eventual reduction of platforms by more ...

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