Japan's Mitsubishi Motors Corp. will approve a broad alliance with DaimlerChrysler AG that includes the auto giant's purchase of a 33.4 per cent stake in the Japanese car maker, according to today's edition of Nihon Keizai Shimbun newspaper.

Mitsubishi will hold an extraordinary board meeting during the day to authorise the alliance and allow company president Mr Katsuhiko Kawasoe to handle final negotiations with DaimlerChrysler.