Mitsubishi turnaround delayed

Scandal-plagued Japanese car giant Mitsubishi said a turnaround plan set to be announced this month will be delayed until the end of January.

The postponement came a day after the Tokyo-based company said an investigation into a cover-up of car defects will not be completed before the end of the year as initially planned.

Mitsubishi has announced one revival plan after another in recent years as it fights nose-diving sales in Japan after the cover-up scandal. Sales in the United States have also suffered.

Mitsubishi Motors came up with a recovery plan in May based on cash infusions from the Mitsubishi group of companies, which includes a bank, electronics maker and trading house.

Details of its strategy had initially been scheduled to be disclosed mid-December.

But more time is needed to decide on details of long-term strategy and partnerships, Mitsubishi Motors said.