Money-losing Mitsubishi says executives will take pay cuts

TOKYO (AP) — Mitsubishi Motors told its shareholders Thursday that its top executives are taking pay cuts to share responsibility for the Japanese automaker’s financial losses. Load Error “I hope we can gain your understanding,” Chief Executive Takao Kato said on how, given the harsh conditions, there will be no dividends. The Tokyo-based maker of the Outlander sport utility vehicle and i-MiEV electric car has not given a projection for the current fiscal year because of uncertainties about the outbreak. Mitsubishi is part of an alliance among bigger Japanese automaker Nissan Motor Co. and Renault of France.