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.
Japan's Nissan posted a 78% fall in third-quarter operating profit to 31.1 billion yen ($201.84 million) on Thursday, missing analysts' estimates, and cut its annual outlook for the third time.
Japan's Nissan and Honda said on Thursday they had officially ended talks to merge.
Japanese automakers Nissan and Honda have called off a $50 billion merger that would have formed one of the world's largest car companies. Both firms said in a statement on Wednesday that they called off the deal "to prioritize speed of decision-making and execution of management measures" as an "increasingly volatile" car market heads into an electric-vehicle era.
The boards of Nissan and Honda both voted on Thursday to officially end talks to merge the two Japanese automakers, broadcaster TBS reported.
Nissan and Honda are expected to lay out a new stage in their uncertain relationship on Thursday, one that is likely to see them formally call off a plan to merge after talks between the two Japanese automakers foundered.
Nissan was deep in trouble late last year when rival Honda offered a lifeline: a $60 billion tie-up that would help both Japanese automakers compete against the Chinese brands upending the car industry.
Foxconn Chairman Young Liu said on Wednesday that the company's aim is cooperation with Japan's Nissan , not acquisition.