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Tengrinews.kz – Nissan CEO Makoto Uchida announced the termination of merger talks with Honda.
According to Japanese media, negotiations stalled after Honda proposed making Nissan its subsidiary. Talks, which began in December, reached an impasse due to disagreements between the two automakers.
Previously, both companies had signed a memorandum of understanding to explore integration under a holding company. The goal was to create the world's third-largest car manufacturer. However, as reported by a Japanese source, Nissan opposed Honda’s proposal to become a subsidiary.
The decision to exit the memorandum is expected to be officially confirmed at Nissan’s board meeting, which will take place before the company announces its third-quarter earnings next week.
According to Japan’s public broadcaster NHK, Honda maintains its position that a merger is only possible if Nissan agrees to become a subsidiary. Honda is currently Japan’s second-largest automaker after Toyota, while Nissan ranks third.
Meanwhile, shares of Japanese and South Korean automakers fell sharply on Asian stock markets on Monday. The decline was attributed to new tariffs imposed by former U.S. President Donald Trump on imports from Mexico, Canada, and China.
