Mitsubishi Motors Corp

Mitsubishi Motors Corp 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.

Mitsubishi Motors Corp said it falsified fuel economy test data to make emissions levels look more favorable, and its shares slumped more than 15 percent, wiping $1.2 billion from its market value on April 20.