Mitsubishi is a Japanese multinational automotive manufacturer headquartered in Minato, Tokyo, Japan. In 2011, Mitsubishi Motors was the sixth-biggest Japanese automaker and the sixteenth biggest worldwide by production. From October 2016 onwards, Mitsubishi has been one-third (34%) owned by Nissan, and thus a part of the Renault-Nissan-Mitsubishi Alliance. Besides being part of the Renault-Nissan-Mitsubishi Alliance, it is also a part of Mitsubishi keiretsu, formerly the biggest industrial group in Japan, through the corporation's majority 66% stake in Mitsubishi Motors, and the company was originally formed in 1970 from the automotive division of Mitsubishi Heavy Industries. Mitsubishi Fuso Truck and Bus Corporation was formerly a part of Mitsubishi Motors, but is now separate from Mitsubishi Motors, which builds commercial grade trucks, buses and heavy construction equipment, and is owned by the German automotive corporation Daimler AG.