Right up till the close of Thursday's session, shares were not able to trade as there were about 10 times as many sell orders as there were bids.
According to the Tokyo Stock Exchange, the latest share price was indicated at 583 yen ($5.34; Â£3.74) a share.
That is a 20% plunge from the previous day close of 733 yen. Shares tanked by more than 15% on Wednesday.
That was as news emerged that Mitsubishi Motors had admitted falsifying fuel economy data for more than 600,000 vehicles sold in Japan. Officials have raided an office of Mitsubishi motors, and authorities are demanding a full report from the company, due on April 27th.
In the broader Japanese market, the benchmark Nikkei 225 index rose 2.7% - or 457.08 points - to close at 17,363.62. That is the highest level since 3 February.
More than 600,000
Japanese vehicles affected
157,000 Mitsubishi models
468,000 Nissan models
15% Wednesday's share price fall
"In a lot of respects I think yesterday's selling of Mitsubishi was a bit overdone," said Gavin Parry, managing director at Parry International Trading.
"From what we know so far it's all very domestic, with no US impact and no impact in Europe, and I think people are a bit hasty to cast this in the same light as the Volkswagen scandal. But of course the facts aren't all in yet, so it's hard to know for sure."
Mitsubishi's announcement follows on from the Volkswagen's emissions scandal last year, in which it was found to have cheated diesel emissions tests in the United States and elsewhere.
Elsewhere in Asia, China's Shanghai Composite index was up 0.42% at 2,985.12, while in Hong Kong the Hang Seng index rose 1.8% to 21,617.50.
In South Korea, the benchmark Kospi index closed up 0.8% at 2,022.10, while Australia's S&P ASX 200 index ended the day 1.1% higher at 5,272.69.
US stocks closed higher overnight amid mixed earnings reports. Coca Cola reported a fall in quarterly profit. Yahoo revealed a $99m loss in the first quarter. And chipmaker Intel announced it was cutting 11% of its workforce.
The Dow Jones closed up 42.67 points at 18,096.27, the S&P 500 added 1.60 points to 2,102.40 while the Nasdaq rose 3.35 points to 4,540.44.

Current mayor Norma Redfearn said she wanted to give residents a "voice" on how the borough is run when she was appointed the post in 2013.
Voters will be asked whether the current system should be replaced by committees of councillors.
Ms Redfearn said she welcomed the poll after "promising" residents they would be given the opportunity to decide.
Councillors approved plans for the referendum on Thursday. It will take place on the 5 May - the same date as the Police and Crime Commissioner elections.
The council said if the results call for a change, this will take effect at the end of Ms Redfearn's current term of office in May 2017.
If the outcome is to support the current system, the next mayoral election will take place in May 2017.

Jonathan James Mathew, 35, Stylianos Contogoulas, 44, Jay Vijay Merchant, 45, Alex Pabon, 37, and Ryan Reich, 34, are accused of manipulating the rate between 1 June 2005 and 31 August 2007.
The prosecution told the court that "they were driven by money... to make more profit on their trading".
The five defendants deny one count of conspiracy to defraud.
The court also heard that the financial position of every company, every government, perhaps every household was directly or indirectly sensitive to Libor in one way or another.
The trial at Southwark Crown Court, which began on Tuesday, is expected to last 12 weeks.
Prosecution counsel James Hines QC said that to maximise their profits, the defendants agreed to manipulate or rig the US dollar Libor rate to the advantage of their trades and to the disadvantage of the people who they were doing trades with.
Submitters, who contributed to the setting of the Libor rate by revealing the interest rates at which their banks were willing to lend at, were told if the traders wanted the rate to go up or down, the prosecution alleged.
Libor - the London interbank offered rate - is an interest rate used by banks around the world to set the price of financial products worth trillions of pounds.
The ability to organise even minor movements in the rate had the potential to generate bumper profits for a trader.
Investors in Tokyo are waiting in line to sell off more shares of Japanese automaker Mitsubishi Motors.
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People in North Tyneside are being given the chance to vote on whether they want a directly elected mayor.
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Five former Barclays employees have been accused of conspiring to defraud, by fixing the Libor interest rate.