NSANF - Nissan Motor Co., Ltd.

Other OTC - Other OTC Delayed price. Currency in USD
6.20
0.00 (0.00%)
At close: 3:28PM EDT
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Previous close6.20
Open6.12
Bid0.00 x 0
Ask0.00 x 0
Day's range6.20 - 6.20
52-week range6.07 - 9.80
Volume25
Avg. volume10,241
Market cap24.296B
Beta (3Y monthly)0.61
PE ratio (TTM)3.73
EPS (TTM)1.66
Earnings dateN/A
Forward dividend & yield0.53 (8.58%)
Ex-dividend date2019-03-27
1y target estN/A
Trade prices are not sourced from all markets
  • Nissan, BMW in Talks to Pull South Africa Into Electric Car Era
    Bloomberg

    Nissan, BMW in Talks to Pull South Africa Into Electric Car Era

    (Bloomberg) -- Nissan Motor Co., BMW AG and Volkswagen AG are among carmakers in talks to bring the electric-car revolution to South Africa, as the nation’s auto-factory floors risk being left behind in the global switch to greener vehicles.The industry is preparing a unified stance on electrification to present to the government by the end of the year, Mike Mabasa, chief executive officer of the National Association of Automobile Manufacturers of South Africa, or Naamsa, said in an interview.Among the goals is persuading lawmakers to reduce or drop a 23% import tariff on electric vehicles to help ramp up nascent domestic sales, he said. Another is to roll out a charging infrastructure in a country where the state-owned power monopoly is in deep financial crisis.Taking steps to boost the popularity of electric vehicles in South Africa is just one part of the equation. The auto-manufacturing industry makes up about 7% of the country’s economy, according to Naamsa. The sector is one of the more positive aspects of an economy expected to grow at less than 1% for a second consecutive year.“The country needs to move forward and bring new technologies,” said Mike Whitfield, Nissan’s chairman for the southern Africa region. “The rest of the world will move very fast and if we don’t get going we will be left behind.”South Africa has long been a hub for global automaking, attracting plants operated by seven carmakers from Toyota Motor Corp. to Isuzu Motors Ltd. Last year, the manufacturers exported almost 210,000 cars to Europe, where Volkswagen is already retooling factories to only make electric cars. That’s just under a third of all local production and makes up 60% of exports.To date, there are no firm plans for electric-car or hybrid production in South Africa, but the government and industry agreed in 2018 to extend a manufacturing incentive program, creating jobs and enabling models like the BMW X3 sport utility vehicle and Nissan’s Novara pickup to be produced locally.“The electric-vehicle play in South Africa will not be determined by the South African consumer, but by the requirements of export markets,” Martyn Davies, an auto-industry specialist at Deloitte LLP, said by phone from Johannesburg, adding that the weaker rand is also making exports more attractive.The quality of the local plants of BMW, Ford Motor Co and Mercedes-Benz AG are good enough to make retooling quite straightforward, he said, adding that the next product made in South Africa by those automakers could feasibly be electric.Under the terms of the new manufacturing plan, the automakers will have to more than double annual production to as many as 1.4 million vehicles by 2035, and that won’t happen without making electric cars as well as gas or diesel, according to Naamsa’s Mabasa.BMW’s i3 and i8 are two of only three models currently available in the birth country of electric car pioneer Elon Musk, and only 620 units have been sold. Jaguar Land Rover introduced the I-Pace earlier this year, while Nissan is holding off on the launch of the latest Leaf until after an agreement is reached on import tariffs.Elsewhere on the African continent, a plan by Volkswagen to introduce an electric-vehicle in Rwanda stands in contrast to a lack of other developments.Another barrier to an accelerated electric-car boom in South Africa is Eskom Holdings SOC Ltd., the power provider that last week reported an annual loss of almost $1.5 billion and requires an $8.8 billion government bailout over the next three years.The utility has been forced to implement intermittent rolling blackouts and is reliant on coal, which is out of step with the environmentally friendly advantages of producing electric cars, Mabasa said. Therefore, the industry paper is likely to lay out a mixture of power sources between Eskom and privately owned renewable energy projects, he said.But the need to turn around Eskom’s financial situation is likely to be of more pressing concern to the government than using it to enable the electric-car industry, Nissan’s Whitfield said.“There is excess capacity, but quite frankly Eskom’s issues have to be addressed or we will have much bigger problems,” Whitfield said.\--With assistance from Prinesha Naidoo.To contact the reporter on this story: John Bowker in Johannesburg at jbowker2@bloomberg.netTo contact the editors responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net, Elisabeth Behrmann, John BowkerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Nissan and EVgo to add 200 fast chargers as more electric vehicles hit US roads
    TechCrunch

    Nissan and EVgo to add 200 fast chargers as more electric vehicles hit US roads

    The 100 kilowatt DC fast-charging stations will have both CHAdeMO and CCSconnectors, making them accessible to more EV drivers

  • Nissan wants Renault to reduce stake to revive Renault-FCA deal talks - WSJ
    Reuters

    Nissan wants Renault to reduce stake to revive Renault-FCA deal talks - WSJ

    Nissan wants Renault to reduce its 43.4% stake in the Japanese auto company, according to emails reviewed by WSJ. The discussions, which are at an early stage, started soon after the potential deal between Renault and FCA collapsed, the report added.

  • Nissan wants Renault to reduce stake to revive Renault-FCA deal talks: WSJ
    Reuters

    Nissan wants Renault to reduce stake to revive Renault-FCA deal talks: WSJ

    Nissan wants Renault to reduce its 43.4% stake in the Japanese auto company, according to emails reviewed by WSJ. The discussions, which are at an early stage, started soon after the potential deal between Renault and FCA collapsed, the report added.

  • Swiss help Japan's investigation into ex-Renault-Nissan boss Ghosn
    Reuters

    Swiss help Japan's investigation into ex-Renault-Nissan boss Ghosn

    Swiss prosecutors said on Tuesday they are assisting Japanese authorities in their investigation into former Renault and Nissan Motor boss Carlos Ghosn, who faces charges of fraud and misconduct. Ghosn, who has denied wrongdoing and has been freed on $4.5 million bail, is pursuing claims against Nissan and Mitsubishi Motors , who ousted him as chairman of their alliance after raising allegations of embezzlement. "The request for legal assistance from Japan has been delegated to the Zurich public prosecutor's office for enforcement and is currently being processed," the office said, without giving any further detail on what it had been asked for.

  • Renault's Troubled Ties to Nissan Are Hurting the Bottom Line
    Bloomberg

    Renault's Troubled Ties to Nissan Are Hurting the Bottom Line

    (Bloomberg) -- For months, Renault SA’s partnership with Nissan Motor Co. has been a strain on management and a public relations nightmare. Now the Japanese carmaker’s woes are hitting where it really hurts: the bottom line.The largest French automaker, which owns 43% of Nissan, reported Friday that its partner’s poor performance in the first half cut net income by 21 million euros ($23.4 million). A year earlier Nissan added 805 million euros, or about 40% of profit.The Japanese carmaker is smarting from slumping U.S. sales and aging vehicle models. The worsening results come at a time of heightened tension within the alliance with Renault in the aftermath of the arrest of their former chairman, Carlos Ghosn, who held the partnership together for almost two decades.“Our top priority is to help Nissan get out of that situation,” Renault Chief Executive Officer Thierry Bollore said in an interview with Bloomberg Television. While Renault cut a sales target for this year, the carmaker is sticking to its profit outlook despite the industry slump.In contrast, Nissan on Thursday announced a doubling in the number of jobs it plans to eliminate and unveiled new production cuts, while reporting a 99% drop in first-quarter profit. It blamed sales incentives and over-expansion under Ghosn. Nissan’s deteriorating results could help Renault take the upper hand in the teetering partnership.Read More: Nissan’s Pain Worsens on 99% Profit Plunge, 12,500 Job Cuts (1)While Renault owns a stake in Nissan, the Japanese automaker is the bigger partner in their alliance and in turn owns 15% of the French carmaker, with no voting rights. The lopsided shareholding arrangement has long been a source of tension.The alliance partners, who include Mitsubishi Motors Corp., together produce some 10.8 million cars a year, almost double Ford Motor Co.’s global deliveries. The alliance would be second in vehicle sales only to Germany’s Volkswagen AG, with Toyota Motor Corp. a close third. Yet despite the cost benefits of cooperation on purchasing, design and manufacturing, doubts have grown about the future of the alliance.Since Ghosn’s November arrest in Tokyo on allegations of financial crimes, which he has denied, Renault’s new chairman, Jean-Dominique Senard, has pushed for a merger Nissan didn’t want, and then pursued talks to combine with Fiat Chrysler Automobiles NV without telling its partner. Those talks collapsed after the French government made it clear it wanted Nissan to support the Renault-Fiat deal before entering an agreement.Shared DreamsWhile talks with Fiat have ended, Bollore said he shares the “same dreams” as Senard of reviving the deal. “The fundamentals for such a deal are there,” although the priority is for helping Nissan turn itself around.Renault lowered its outlook for full-year sales on Friday -- saying revenue will be close to last year’s level rather than grow -- but kept its forecast for a group operating margin of 6%.The shares were little changed at 52.32 euros by 11:14 a.m. in Paris trading, leaving them down 4.1% this year.The results cap a mostly gloomy week for the automotive industry. Ford missed earnings estimates and gave a projection for 2019 profit that disappointed investors, while Tesla Inc. posted a worse-than-expected loss. Suppliers also suffered, with Continental AG shaving its targets. Among the brighter spots, France’s PSA Group booked a record profit margin at its automotive division and Volkswagen AG’s earnings beat estimates.Renault is counting on new models, higher prices and cost-cutting measures to reach its profit targets in the second half, as well as its “fighting spirit,” Bollore said in a statement. Sales fell 6.7% in the first half and operating income dropped 12%.Read More: Europe Car Sales Extend Downward Spiral With Worst Drop of 2019It’s unclear how Nissan’s woes will affect Renault factories, said Franck Daout, a representative of the carmaker’s CFDT union. Renault’s plants in Cleons and Le Mans make parts for Nissan cars, and the manufacturer makes the Nissan Micra in its Flins plant outside of Paris.Nissan already shifted production of the X-Trail model from Sunderland in the U.K., citing Brexit concerns, and has announced a plan to cut 600 jobs at a plant in Barcelona.\--With assistance from Caroline Connan.To contact the reporter on this story: Ania Nussbaum in Paris at anussbaum5@bloomberg.netTo contact the editors responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net, Frank Connelly, Tara PatelFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Nissan to cut 12,500 jobs as crisis deepens after profit wipe out
    Reuters

    Nissan to cut 12,500 jobs as crisis deepens after profit wipe out

    Nissan Motor Co <7201.T> unveiled its biggest restructuring plan in a decade, axing nearly a tenth of its workforce and flagging possible plant closures to rein in costs that ballooned when Carlos Ghosn was CEO. The cuts announced on Thursday followed a collapse in Nissan's quarterly profit, highlighting how a crisis - brought about by sluggish sales and rising costs - is deepening at Japan's No. 2 automaker in the wake of a financial misconduct scandal over Ghosn. The dismal quarter will pile pressure on Chief Executive Hiroto Saikawa, who has been tasked with shoring up the automaker's performance at a time when the industry is struggling worldwide.

  • Reuters - UK Focus

    LIVE MARKETS-Now Mario, give us the details

    * European stocks rise after ECB signals potential rate cuts * EZ banks rally on tiered rate hopes * German business morale deteriorates * Cars go into reverse after Nissan news * CAC 40 outperforms on solid updates from LVMH, Schneider Electric * Nokia rises 7% after surprise Q2 profit jump * Cobham +35% after Advent agrees to buy for $5 billion Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Thyagaraju Adinarayan. Reach him on Messenger to share your thoughts on market moves: rm://thyagaraju.adinarayan.thomsonreuters.com@reuters.net NOW MARIO, GIVE US THE DETAILS (1237 GMT) It looks that the ECB statement didn't disappoint anyone, sending euro-zone shares shooting higher across the board, as the euro took a turn lower.

  • Reuters - UK Focus

    LIVE MARKETS-Mario delivers!

    * European stocks rise after ECB signals potential rate cuts * EZ banks rally * German business morale deteriorates * Cars go into reverse after Nissan news * CAC 40 outperforms on solid updates from LVMH, Schneider Electric * Nokia rises 7% after surprise Q2 profit jump * Cobham +35% after Advent agrees to buy for $5 billion Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Thyagaraju Adinarayan. Reach him on Messenger to share your thoughts on market moves: rm://thyagaraju.adinarayan.thomsonreuters.com@reuters.net MARIO DELIVERS! (1220 GMT) Markets have spiked higher after the ECB kept rates unchanged as expected, but opened the door to future rate cuts and more bond buys, while also providing some respite to the banks with a possible tiered deposit rate.

  • Reuters - UK Focus

    LIVE MARKETS-Big changes in ECB statement

    * European stocks rise after ECB signals potential rate cuts * EZ banks rally * German business morale deteriorates * Cars go into reverse after Nissan news * CAC 40 outperforms on solid updates from LVMH, Schneider Electric * Nokia rises 7% after surprise Q2 profit jump * Cobham +35% after Advent agrees to buy for $5 billion Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Thyagaraju Adinarayan. Reach him on Messenger to share your thoughts on market moves: rm://thyagaraju.adinarayan.thomsonreuters.com@reuters.net BIG CHANGES IN ECB STATEMENT (1205 GMT) The markets are rallying on the ECB statement which kept rates unchanges, signalled a readiness to cut rates in future and offered some respite for banks with a possible tiered deposit rate.

  • Reuters - UK Focus

    UPDATE 2-European shares sink as Draghi disappoints rate-cut bulls

    European stock markets turned into a sea of red on Thursday after the European Central Bank signalled monetary policy easing ahead, but disappointed investors who sought more clarity on its action to stimulate a slowing economy. Investors initially cheered the ECB's policy statement, which said the central bank saw rates at present or lower levels through mid-2020 and was considering other easing options, lifting the pan-European STOXX 600 index to its highest level in more than a year. Expectations of easier monetary policy have spurred a rally in stocks globally since steep falls in May, but analysts warn it may now be difficult with expectations for interest rate cuts from the ECB and the U.S. Federal Reserve already priced in.

  • Reuters - UK Focus

    UPDATE 4-Nissan to cut 12,500 jobs as crisis deepens after profit wipe out

    Nissan Motor Co unveiled its biggest restructuring plan in a decade, axing nearly a tenth of its workforce and flagging possible plant closures to rein in costs that ballooned when Carlos Ghosn was CEO. The cuts announced on Thursday followed a collapse in Nissan's quarterly profit, highlighting how a crisis - brought about by sluggish sales and rising costs - is deepening at Japan's No. 2 automaker in the wake of a financial misconduct scandal over Ghosn. The dismal quarter will pile pressure on Chief Executive Hiroto Saikawa, who has been tasked with shoring up the automaker's performance at a time when the industry is struggling worldwide.

  • Nissan Braces for Pain as Weak Profit Forces Restructuring
    Bloomberg

    Nissan Braces for Pain as Weak Profit Forces Restructuring

    (Bloomberg) -- Nissan Motor Co. confirmed reports of a 90% drop in quarterly operating profit and a broader restructuring before reporting results Thursday, underscoring the Japanese automaker’s struggle to get back on stable footing.Operating profit for the fiscal first quarter will be several billion yen, the Nikkei newspaper reported a day earlier, indicating a figure well below analysts’ average prediction for a 66% drop to 37 billion yen ($342 million) in the April-to-June period. In the first three months of the year, profit plummeted 98%. Nissan hasn’t delivered such weak back-to-back earnings since the depths of the 2008-2009 financial crisis.Separately, Kyodo News earlier reported that Nissan is planning to cut at least 5,200 additional jobs globally to improve its performance, on top of a plan unveiled in May to shed 4,800 positions. In total, the reductions make up more than 7% of the workforce. Nissan board member Motoo Nagai, speaking to reporters on Wednesday, said any restructuring measures to be announced by the carmaker “won’t be simple.”As part of the planned cost reduction measures, Nissan is considering production cuts in markets including Southeast Asia and Latin America, people familiar with the matter said. Nissan declined to comment.Nissan has been struggling to get back on stable ground following the arrest in November of Carlos Ghosn, the former chairman and architect of the global alliance between Nissan, Renault SA and Mitsubishi Motors Corp. Profit last year hit a decade low, and Nissan’s shipments are slumping in the U.S., where years of sales incentives eroded margins and expanded volumes through fleet sales. With an out-of-sync product cycle and aging model lineup, Nissan unveiled a plan in May to roll out new models. Such revamps, however, take time.Nissan appeared to experience some trouble responding to the steady onslaught of media reports. Though the figures reported by the Nikkei were “broadly accurate,” Nissan said in a statement it won’t be able to release results until they’ve been approved by the board. The statement, which was reworded at least once as it was being posted to Nissan’s website, came shortly after the company said it wouldn’t comment on the newspaper’s report.Fiscal full year forecasts will remain unchanged, the Nikkei reported Thursday. Nissan issued an outlook in May for operating profit of 230 billion yen on sales of 11.3 trillion yen.“Once chasing nothing but volume under Ghosn, Nissan is now scrapping that strategy and is shifting its focus more on profitability,” said Koji Endo, an analyst at SBI Securities. “In order to achieve this, they are reducing the size of the company — this includes its inflated capacity and number of employees, as well as a bunch of unprofitable cars and trucks.”Nissan is planning to refresh all core models, introduce 20-plus new products and focus on American retail sales over the next three years. The carmaker recently revamped the Nissan Skyline with design changes and features to make it more appealing to Japanese consumers, and is also betting that passenger cars — especially electric sedans — will help drive future sales in China, Latin America and other markets.Vehicle sales in the U.S. fell 15% in June, bringing the decline this year to 8.2%. Deliveries in China, Nissan’s biggest market, dipped 0.3% in the first half.The surprise arrest of Ghosn, who led Nissan and Renault for more than a decade, exposed rifts over control and decision-making between Nissan and Renault. Currently out on bail, Ghosn has denied all charges against him, saying his arrest was due to a “dirty game” played by some Nissan executives. He is now preparing for his trial, which may start later this year or next year.(Updates with full-year outlook in sixth paragraph.)\--With assistance from Kae Inoue.To contact the reporters on this story: Ma Jie in Tokyo at jma124@bloomberg.net;Masatsugu Horie in Tokyo at mhorie3@bloomberg.netTo contact the editors responsible for this story: Young-Sam Cho at ycho2@bloomberg.net, Reed Stevenson, Ville HeiskanenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Nissan warns of profit plunge, set to unveil 10,000 job cuts
    Reuters

    Nissan warns of profit plunge, set to unveil 10,000 job cuts

    Nissan Motor Co Ltd warned on Wednesday that first-quarter profit tumbled around 90% percent, a day before it is expected to announce more than 10,000 job cuts as the crisis deepens at Japan's second-largest automaker. The dismal earnings, due to be formally announced on Thursday, mark one of Nissan's worst quarterly performances in around a decade. The automaker is fighting to rein in its operations after years of aggressive expansion under former chairman Carlos Ghosn, ousted last year in a dramatic scandal that shook the industry.

  • The Boring Sedan Could Come Back to Replace SUVs, Nissan Bets
    Bloomberg

    The Boring Sedan Could Come Back to Replace SUVs, Nissan Bets

    (Bloomberg) -- At a time when younger people drive less and hail more rides, while SUVs reign supreme thanks to low gas prices, Nissan Motor Co. is betting on the humble sedan.Over the past few decades, the auto industry, especially in North America, has been ditching four- and two-door passenger cars in favor of bigger vehicles: first it was minivans and now sport-utility vehicles, crossovers and trucks. Automakers have become addicted to the higher profits offered by bigger vehicles, sought after by consumers seeking size, convenience and safety. By next year, only 10% of Ford Motor Co.’s output will be passenger or sports cars.Ivan Espinosa, Nissan’s newly appointed chief of product planning, contends that the sedan might be the right vehicle for a new generation of ecologically-conscious younger drivers. They spend less on transport, get around using Uber or Lyft (many of them sedans) and aren’t as attracted to SUVs. They’re more interested in electric cars, which are usually sedans because less heavy metal usually translates into greater battery range. The argument has some merit: Tesla Inc.’s top-selling EVs, the Model S and Model 3, are both sedans.“SUVs might gradually be seen as a boring family car in the future,” said Espinosa, who joined Nissan in Mexico, one of its most successful markets, and worked on product planning for over 15 years. “We’re starting to see some customers associate some of the SUVs that are in offer today to what the minivans were before — soccer mom cars.”It’s a significant gamble, and much is on the line. Nissan needs to reignite sales and restore its image, tarnished by the arrest of former Chairman Carlos Ghosn. Profits are at a decade low and the carmaker is struggling in the U.S., where Ghosn pushed for sales incentives that eroded margins and expanded volumes through fleet sales. Nissan’s product lineup is aging, and rolling out the wrong car models right now could deliver a life-threatening blow to the Yokohama-based automaker.“I can understand the logic that SUVs are losing the cool attribute because of product proliferation,” said Tatsuo Yoshida, an auto analyst at Sawakami Asset Management Inc. “But that doesn’t mean customers will return to cars. This seems to be a leap of logic to me.”Indeed, consumers don’t appear to be getting tired of SUVs, thanks to cheaper gasoline prices and plenty of choice among automakers. Carmakers’ combined sales in the segment, including pickups, climbed to a record 12 million units in the U.S. last year, while sedans hit a decade low. In the first half, sedan sales fell 10%, outpacing the 6.6% decline in SUVs.Espinosa says, however, that cracks may be appearing in the SUV’s rock-solid popularity. In a recent Nissan survey of drivers who don’t own a sedan in 11 markets including the U.S. and China, 75% said they would consider buying one now or in the future. For millennials, Nissan found that the figure climbed to 8 in 10. In order to tap into that demand, Espinosa said Nissan will offer more options to appeal to younger drivers, such as all-wheel drive sedans.That’s already happening in the U.S., where the share of AWD sedans has been on the rise. Lower fuel prices have made American car buyers less sensitive to their lower fuel economy, and carmakers have tweaked their drivetrains to improve efficiency. Automakers are also finding that younger buyers with less money are opting for practical, cheap-to-own compact cars.“There is definitely an opportunity for the Japanese carmakers to take advantage of the U.S. automakers retreat from the sedan market,” said Janet Lewis, an analyst at Macquarie Capital. “The difference in profitability isn’t as great for the Japanese between SUVs and sedans as for the U.S carmakers.”In May, Nissan promised to spend 47 billion yen ($437 million) over the next three years to refresh all core models, introduce 20-plus new products and focus on American retail sales. That includes sedans such as the Skyline, introduced this month in Japan, the Altima in the U.S., and the new Sylphy, its best-selling sedan in China.Nissan’s goal is to cut its average model age to 3.5 years by 2021, from 5-plus years right now. Joint products in the compact-car segment with Renault SA, its partner in a global alliance that also includes Mitsubishi Motors Corp., haven’t been affected by recent turmoil triggered by Ghosn’s arrest, according to Espinosa. Nissan and Renault will continue to share technologies, he said.While North America remains a critical market, the real test of Nissan’s sedan strategy will be in markets such as China and South America. After outpacing sedan sales for a decade, sales of SUVs in China are starting to decelerate. SUV shipments in the country fell 2.9% last year, compared with a 2.8% decline for sedans.“In China, there’s still very solid demand for this kind of vehicle,” Espinosa said. “Sedans are still seen as a symbol of success and pride.”Sedans still outsell SUVs in China and Latin America. Mid-sized and long wheel-base pssenger cars are especially popular among well-off Chinese, while government officials and company executives prefer to be driven around in chauffeured sedans. Last year Nissan sold 514,000 sedans in China. Espinosa said sedans will probably continue to make up half of the company’s sales in China and South America.“There are far more risks in abandoning sedans than doubling down on them,” Lewis said. “Nissan’s problem is more that it has not mixed up its product launches more and right now only has new models of sedans coming to the market with nothing in the light truck space.”\--With assistance from Masatsugu Horie.To contact the reporter on this story: Ma Jie in Tokyo at jma124@bloomberg.netTo contact the editors responsible for this story: Young-Sam Cho at ycho2@bloomberg.net, Reed Stevenson, Ville HeiskanenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Carlos Ghosn sues Nissan-Mitsubishi in the Netherlands: paper
    Reuters

    Carlos Ghosn sues Nissan-Mitsubishi in the Netherlands: paper

    Carlos Ghosn has launched a court case in the Netherlands against Japanese carmakers Nissan Motor and Mitsubishi Motors , who ousted him as chairman of their alliance last year on charges of embezzlement, Dutch newspaper NRC reported on Saturday. Ghosn is seeking 15 million euros ($16.8 million) in damages from the carmakers, as grave mistakes were made when he was sacked, NRC reported, citing his lawyer. "In the Netherlands, if you want to fire an executive you have to first tell him what he's being accused of, and you have to provide him with the evidence for the accusations.

  • Carlos Ghosn sues Nissan-Mitsubishi in the Netherlands - paper
    Reuters

    Carlos Ghosn sues Nissan-Mitsubishi in the Netherlands - paper

    Carlos Ghosn has launched a court case in the Netherlands against Japanese carmakers Nissan Motor and Mitsubishi Motors , who ousted him as chairman of their alliance last year on charges of embezzlement, Dutch newspaper NRC reported on Saturday. Ghosn is seeking 15 million euros (13.43 million pounds) in damages from the carmakers, as grave mistakes were made when he was sacked, NRC reported, citing his lawyer. "In the Netherlands, if you want to fire an executive you have to first tell him what he's being accused of, and you have to provide him with the evidence for the accusations.

  • Renault's Senard expects Nissan's new board to embrace alliance
    Reuters

    Renault's Senard expects Nissan's new board to embrace alliance

    Renault is confident that alliance partner Nissan's new board will work to reinforce their partnership as it struggles to turn the page on the Carlos Ghosn scandal, Renault Chairman Jean-Dominique Senard said on Thursday. Nissan shareholders last month approved the appointment of a new board at the Japanese carmaker with a more international profile as well as Senard and his Renault Chief Executive Thierry Bollore. "There is a change," Senard told reporters in a briefing at Renault headquarters.

  • Nissan Reports 99% Profit Plunge
    Bloomberg

    Nissan Reports 99% Profit Plunge

    Jul.25 -- Nissan reports a 99% plunge in first-fiscal quarter operating profit. Bloomberg’s Dani Burger reports on “Bloomberg Markets: European Open.”

  • Nissan Needs to Downsize the Company, Says SBI Securities’s Endo
    Bloomberg

    Nissan Needs to Downsize the Company, Says SBI Securities’s Endo

    Jul.25 -- Koji Endo, head of equity research at SBI Securities, discusses Nissan’s earnings and what they can do to turn the company around. He speaks on “Bloomberg Markets: Asia.”

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