• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

2

‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion

3

OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation

1

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

2

‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion

3

OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation

Mitsubishi Just Admitted It Used Dodgy Mileage Data for 25 years

By
Reuters
Reuters
Down Arrow Button Icon
By
Reuters
Reuters
Down Arrow Button Icon
April 26, 2016, 5:08 AM ET
Courtesy of Mitsubishi
Add Fortune on Google for similar content.

Mitsubishi Motors said it had used fuel economy testing methods that were not compliant with Japanese regulations for 25 years, much longer than previously known, and would set up an external committee to investigate the matter.

Japan’s sixth-largest automaker has lost half of its market value—some $3.9 billion—since it admitted last week that it overstated the fuel economy of four domestic minivehicle models, including two produced for Nissan Motor.

The automaker’s admission that more models may not comply with Japanese standards has sparked fears of ballooning compensation costs and fines. The U.S auto safety regulator is also seeking information, while Japanese authorities have raided one of its research and development facilities.

Mitsubishi (MMTOF) said the committee of external experts will report the results of its investigation in three months.

 

The automaker has said that it had been compiling data for fuel economy tests using U.S. standards, where higher-speed, highway driving is common, rather than Japanese standards, which are set to reflect driving in the city, where the need to stop more often means more fuel is used.

The company said on Tuesday that it had been submitting non-compliant data to Japan’s transport ministry since 1991. Mitsubishi had previously only said such non-compliance went back to at least 2002.

The transport ministry announced earlier in the day that it had set up a task force to examine how other automakers submit fuel economy data. Last week it ordered other domestic automakers to submit fuel economy test data by May 18.

The misconduct has revived memories of a scandal more than 15 years ago in which Mitsubishi admitted to systematically covering up customer complaints for more than 20 years, bringing the company close to collapse.

Back then, it was helped by a bailout from other Mitsubishi Group companies. But now senior officials at other Mitsubishi firms say would be difficult” for them to help the car maker as they face their own financial squeeze, as well as calls to put shareholder returns above ties with the former Mitsubishi business empire.

On Tuesday, Mitsubishi Motors shares ended down nearly 10%.

About the Author
By Reuters
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in

George Soros never signed the Giving Pledge. He’s given away more of his fortune than the billionaires who did
Successphilanthropy
George Soros never signed the Giving Pledge. He’s given away more of his fortune than the billionaires who did
By Sydney LakeJuly 22, 2026
28 minutes ago
Current ARM mortgage rates report for July 22, 2026
Personal FinanceReal Estate
Current ARM mortgage rates report for July 22, 2026
By Glen Luke FlanaganJuly 22, 2026
29 minutes ago
Current refi mortgage rates report for July 22, 2026
Personal FinanceReal Estate
Current refi mortgage rates report for July 22, 2026
By Glen Luke FlanaganJuly 22, 2026
29 minutes ago
Mortgage rates today, July 22, 2026
Personal Financemortgages
Mortgage rates today, July 22, 2026
By Glen Luke FlanaganJuly 22, 2026
29 minutes ago
Sam Altman and Jony Ive formed a dream team to reinvent hardware. Now it’s at the center of a battle for OpenAI’s future
Big TechOpenAI
Sam Altman and Jony Ive formed a dream team to reinvent hardware. Now it’s at the center of a battle for OpenAI’s future
By Emily Forlini and Sebastian HerreraJuly 22, 2026
29 minutes ago
After SpaceX’s $2 trillion debut, investors are eyeing Anthropic and OpenAI. Market experts share how to play the next trillion-dollar IPO
MagazineIPOs
After SpaceX’s $2 trillion debut, investors are eyeing Anthropic and OpenAI. Market experts share how to play the next trillion-dollar IPO
By Amanda GerutJuly 22, 2026
30 minutes ago

Most Popular

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
Success
Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
By Sasha RogelbergJuly 20, 2026
2 days ago
‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion
Success
‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion
By Sydney LakeJuly 20, 2026
2 days ago
OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation
Cybersecurity
OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation
By Jeremy Kahn and Emily ForliniJuly 21, 2026
12 hours ago
Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem
AI
Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem
By Eva RoytburgJuly 21, 2026
15 hours ago
Despite a $156 million contract, Knicks star Jalen Brunson still calls his parents for financial advice any time he makes a big purchase
Success
Despite a $156 million contract, Knicks star Jalen Brunson still calls his parents for financial advice any time he makes a big purchase
By Emma BurleighJuly 21, 2026
16 hours ago
'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
AI
'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
By Jason MaJuly 18, 2026
3 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.