SEPTEMBER 5, 2003
Mugen is restructured
Mugen is to restructure following the recent scandal over tax evasion. A new company called M-TEC will be established shortly. This will have the right to use the Mugen name, will be based in the current headquarters and will retain the company's existing staff but will be unconnected with the old firm - at least in legal terms. The company will be headed by Mugen board member Shin Nagaosa.
Nagaosa was manager of the engineering division of the company and in recent years has been largely involved with running Mugen's NSX racing program.
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