Nissan is planning to replace its CEO Makoto Uchida following poor earnings and the collapse of talks to combine with Honda Motor Co. That's according to people familiar with the matter. Nicholas Takahashi reports from Tokyo on Bloomberg Television.
Nissan Motor is considering replacing its CEO Makoto Uchida in response to the deteriorating business performance and the failure of negotiations with Honda Motor to establish a joint holding company, Bloomberg News reported on Thursday citing sources familiar with the situation.
Fitch Ratings said on Wednesday it has downgraded Nissan Motor's rating to junk-status BB+ from BBB-, referring to the Japanese automaker's "persistently low profitability, with a delayed recovery trajectory against our expectations".
Nissan's shares jumped after a report said Tesla is being courted as a potential investor. The Financial Times said that a consortium of high-profile figures in Japan are involved.
Tesla CEO Elon Musk appeared to downplay reports of Tesla's interest in Nissan's U.S. factories early on Friday after a report said that a Japanese group—which includes the country's former prime minister—is planning to seek Tesla's investment in the struggling automaker just days after its merger talks with rival Honda collapsed.
Tesla Inc has reportedly emerged at the centre of plans by a high-level Japanese group for an investment in Nissan after the latter's merger talks with Honda fell through. According to Financial Times-cited sources, hopes were that Elon Musk's electric vehicle giant could take a strategic stake in Nissan.
What ailing Japanese automaker Nissan could have that Tesla would want.
Nissan Motor's shares surged Friday morning after a report emerged that a high-level Japanese group—which includes the country's former prime minister—has readied a plan to seek Telsa's investment in the company, just days after the ailing automaker's merger talks with rival Honda collapsed.
Moody's Ratings said on Friday it has downgraded its rating of Nissan Motor credit by one notch to junk status, citing a weak and worsening outlook for the Japanese automaker's credit profile.
Nissan CEO Makoto Uchida suggested President Trump's tariffs could force the car manufacturer to shift its production outside of Mexico.
Christopher Richter, CLSA's senior analyst for Japanese autos, discusses the collapse of the Honda-Nissan merger and adds that a potential partnership between Nissan and Foxconn would be "most interesting".
Nissan Motor Co., Ltd. (OTCPK:NSANY) Q3 2024 Earnings Conference Call February 13, 2025 5:30 AM ET Company Participants Julian Krell - Vice President of Investor Relations Makoto Uchida - President and Chief Executive Officer Jérémie Papin - Chief Financial Officer Guillaume Cartier - Chief Performance Officer Toru Ihara - Chief Human Resources Officer Conference Call Participants Kota Yuzawa - Goldman Sachs Yoshitaka Ishiyama - Mizuho Securities Co., Ltd.