NSANY - Nissan Motor Co., Ltd.

Other OTC - Other OTC Delayed price. Currency in USD
11.48
+0.12 (+1.06%)
At close: 3:52PM EST
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Previous close11.36
Open11.77
Bid0.00 x 0
Ask0.00 x 0
Day's range11.45 - 11.77
52-week range11.16 - 17.39
Volume151,004
Avg. volume110,552
Market cap22.5B
Beta (5Y monthly)1.15
PE ratio (TTM)3.45
EPS (TTM)3.33
Earnings dateN/A
Forward dividend & yield0.36 (3.21%)
Ex-dividend date24 Sep 2019
1y target est11.83
  • Nissan (NSANY) Recalls 346K Vehicles Over Takata Airbag Defect
    Zacks

    Nissan (NSANY) Recalls 346K Vehicles Over Takata Airbag Defect

    Nissan (NSANY) recalls 346,000 vehicles across the globe to replace dangerous Takata airbag inflators that can explode and hurl shrapnel.

  • Renault, Nissan share 'real desire' to make alliance work: chairman
    Reuters

    Renault, Nissan share 'real desire' to make alliance work: chairman

    Renault Chairman Jean-Dominique Senard said on Thursday there was a "real desire" within the top ranks of both companies for its alliance with Nissan to succeed, dismissing suggestions the partnership was on the rocks. Turmoil within the Franco-Japanese alliance, long dogged by internal rivalries, deepened following the November 2018 arrest in Tokyo of its architect and long-time boss Carlos Ghosn on charges of financial crimes, which he denies. Attempts to restore calm were dealt a fresh blow by Ghosn's dramatic flight from Japanese justice and a series of no-holds-barred allegations he has made from his refuge in Lebanon, including that he was the victim of a plot to oust him and that the alliance is now a "masquerade".

  • Renault, Nissan share 'real desire' to make alliance work - chairman
    Reuters

    Renault, Nissan share 'real desire' to make alliance work - chairman

    Renault Chairman Jean-Dominique Senard said on Thursday there was a "real desire" within the top ranks of both companies for its alliance with Nissan to succeed, dismissing suggestions the partnership was on the rocks. Turmoil within the Franco-Japanese alliance, long dogged by internal rivalries, deepened following the November 2018 arrest in Tokyo of its architect and long-time boss Carlos Ghosn on charges of financial crimes, which he denies. Attempts to restore calm were dealt a fresh blow by Ghosn's dramatic flight from Japanese justice and a series of no-holds-barred allegations he has made from his refuge in Lebanon, including that he was the victim of a plot to oust him and that the alliance is now a "masquerade".

  • Carlos Ghosn's Japanese lawyers quit after former Nissan chief absconds
    Reuters

    Carlos Ghosn's Japanese lawyers quit after former Nissan chief absconds

    Japanese attorneys representing Carlos Ghosn, including lead lawyer Junichiro Hironaka, quit on Thursday following the former Nissan chief's flight to Lebanon from Japan, where he had been fighting financial misconduct charges. In an emailed statement, Hironaka said everyone involved in the case at his practice had resigned. A second lawyer in Ghosn's three-person legal team, Takashi Takano, also quit on Thursday, according to an official at his office.

  • Maybe a Nissan-Honda Tieup Isn’t So Unthinkable After All
    Bloomberg

    Maybe a Nissan-Honda Tieup Isn’t So Unthinkable After All

    (Bloomberg) -- A Nissan Motor Co. alliance with Honda Motor Co. “feels a little wrong” but shouldn’t be out of the question if the embattled automaker ends up severing ties with Renault SA, according to LightStream Research analyst Mio Kato.Such a tie-up could appeal given the threat of Toyota Motor Corp., which has brought many smaller Japanese automakers like Mazda Motor Corp., Suzuki Motor Corp. and Subaru Corp. into its fold, Kato wrote in a note available on SmartKarma.“Honda has never been one to engage in aggressive M&A and a merger between Honda and Nissan should be unthinkable, but with Toyota’s increasing competitiveness we feel that if Nissan desired an alliance partner to replace Renault, Honda may not be entirely against the idea,” Kato said.Nissan denied reports earlier this week that it was considering ending its alliance with Renault, which has been shaken by the dramatic escape of former Chairman Carlos Ghosn from trial in Japan. It referred to the Renault alliance as a “source of Nissan’s competitiveness.”Nissan declined to comment on the report in SmartKarma and referred queries to its previous statements about its alliance with Renault. A representative for Honda said no steps, such as a capital alliance or merger, were under consideration.Kato said carmakers will be inclined to seek partnerships given their investment burden over the new few years. He suggested that the auto industry in Japan could ultimately be split into two giant groups.Replacing Renault with Honda in the alliance would raise unit volumes to about 12 million units a year from under 11 million units and improve product mix, given that Honda produces larger vehicles than Renault, according to Kato.“Nissan does have attractive possibilities to dangle in front of potential suitors and Toyota’s relentless march forward could necessitate drastic change for those on the outside in Japan,” he wrote.To contact the reporters on this story: Min Jeong Lee in Tokyo at mlee754@bloomberg.net;Tsuyoshi Inajima in Tokyo at tinajima@bloomberg.netTo contact the editors responsible for this story: Lianting Tu at ltu4@bloomberg.net, ;Young-Sam Cho at ycho2@bloomberg.net, Will DaviesFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Ghosn says French envoy told him Nissan was turning against him
    Reuters

    Ghosn says French envoy told him Nissan was turning against him

    Former Nissan chairman Carlos Ghosn, speaking in Beirut after his dramatic escape from Japanese justice, said on Tuesday that the French ambassador had warned him shortly after his arrest that his own company was plotting against him. "Frankly, I was shocked by the arrest and the first thing I asked is make sure Nissan knows so they can send me a lawyer," Ghosn told Reuters in an interview in Beirut. Former Nissan CEO Hiroto Saikawa, who was forced to resign last year after admitting that he had received improper compensation, told a news conference hours after Ghosn's arrest that Ghosn had been using corporate money for personal purposes and under-reporting his income for years.

  • Renault chairman denies split with Nissan on the cards
    Yahoo Finance UK

    Renault chairman denies split with Nissan on the cards

    Renault boss denies reports that Nissan is looking for ways out of the alliance.

  • Renault, Nissan say alliance not headed for break-up
    Reuters

    Renault, Nissan say alliance not headed for break-up

    TOKYO/PARIS (Reuters) - Shares in Renault recovered some lost ground on Tuesday after the French carmaker and its Japanese partner Nissan Motor rejected media reports that their alliance was in danger of being dissolved. Growing concerns about the state of the 20-year old French-Japanese alliance, forged by former boss turned fugitive Carlos Ghosn, had sent Renault and Nissan shares skidding to multi-year lows on Monday. At the opening of trading in Paris on Tuesday, Renault shares rose 1.3 percent, before falling back slightly to trade up 0.49 percent by 08:23 GMT.

  • France expects Renault to name new CEO in few days - minister
    Reuters

    France expects Renault to name new CEO in few days - minister

    French Finance Minister Bruno Le Maire said on Tuesday he expected carmaker Renault to name its new chief executive in a few days. Le Maire also said on French CNews TV that media reports that some Nissan executives wanted to break up the alliance with Renault were "malicious". Nissan said on Tuesday it was "in no way" considering dissolving its alliance with Renault and Mitsubishi Motors and that the alliance was the source of Nissan's competitiveness.

  • Renault Alliance Is Here to Stay, Nissan Says After Ghosn Escape
    Bloomberg

    Renault Alliance Is Here to Stay, Nissan Says After Ghosn Escape

    (Bloomberg) -- Nissan Motor Co. said it is in no way considering the dissolution of its alliance with Renault SA, which was shaken even further by the dramatic escape of former chairman Carlos Ghosn from trial in Japan.“The alliance is the source of Nissan’s competitiveness,” the Yokohama-based company said in a statement Tuesday, pushing back against reports that its executives have looked at the possibility of breaking with the global carmaking partnership. “Through the alliance, to achieve sustainable and profitable growth, Nissan will look to continue delivering win-win results for all member companies.”The future of the alliance, created two decades ago when Renault took a stake in a near-bankrupt Nissan and which added Mitsubishi Motors Corp. in 2016, was thrown into question over the past year after Ghosn’s arrest. The auto executive, who was detained in November 2018 and fled at the end of December to escape trial in Japan on charges of financial crimes, played a pivotal role in keeping the alliance together.In a news conference last week, the first since Ghosn’s dramatic escape to Lebanon, the former chief executive officer of Nissan and Renault trashed the recent performance of the carmakers. Indeed, the two have struggled financially — their shares were the worst performers among major automakers last year — and have been drifting apart at a time when the costs of electrification and autonomous driving are pressuring incumbent carmakers to team up or consolidate.It’s unclear how feasible any separation would be given that Renault holds 43% of Nissan’s shares as its biggest shareholder, while Nissan owns 15% of its French partner.Even so, Nissan has been exploring the pros and cons of sustaining the alliance, particularly when it comes to engineering and technology sharing, said a person familiar with the matter, who asked not to be identified discussing confidential matters. Those studies predate Ghosn’s escape from Japan and were preliminary, so no decision has been made, the person said.The discussion over the future of the alliance underscores the fragile state of the relationship between the Japanese and French auto giants after the arrest and later escape of Ghosn, who balanced the world’s largest automotive alliance for years.The board governing alliance agreed in November to work to “significantly enhance and accelerate the operational efficiency of the alliance for the benefit of the member companies, including action plans to maximize the contribution of the alliance to each company’s strategic plans and operating profit,” Nissan said in Tuesday’s statement.(Updates with background.)To contact the reporter on this story: Reed Stevenson in Tokyo at rstevenson15@bloomberg.netTo contact the editors responsible for this story: Young-Sam Cho at ycho2@bloomberg.net, Reed Stevenson, Gearoid ReidyFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.

  • Bloomberg

    Ghosn’s Alleged Accomplice Fears Fair Trial Odds Have Diminished

    (Bloomberg) -- The family of the former Nissan Motor Co. director accused of helping Carlos Ghosn violate Japan’s pay-disclosure laws is questioning his ability to get a fair trial.Greg Kelly was arrested on the same day in late 2018 as Carlos Ghosn, who fled to Lebanon last month. The former Nissan executive can’t leave the country pending the outcome of his case. Without his ex-boss’s testimony, Kelly may not be able to fully defend himself against prosecutors’ allegations he violated Japanese financial laws, his wife said in an email.“It will be difficult for Greg to get a fair trial with a key witness not available to testify,” Donna “Dee” Kelly wrote to Bloomberg News. The statement echoes remarks her husband made to the Wall Street Journal that were published earlier Monday.Ghosn’s Hollywood-like escape from Japan threw the legal case against him into limbo and complicates the legal proceedings against Kelly, 63, who faces charges he helped understate the former chairman’s compensation by millions of dollars. Kelly’s lawyer says his trial is expected to get underway in April.Boss’s EscapeKelly said her husband was “shocked and surprised” by the news of Ghosn’s secretive departure, which Japanese government officials condemned. But so far, Greg Kelly hasn’t been forced subjected to further restrictions or forced to change his daily routine, she said.Kelly was released on 70 million yen ($640,000) bail in December 2018, about a month after being jailed shortly after arriving in Japan for a Nissan board meeting. Prosecutors allege he conspired with Ghosn to hide the former chairman’s deferred compensation, a charge that Kelly denies.In September, Kelly agreed to a $100,000 penalty and five-year suspension from serving as a corporate officer as part of a settlement with the U.S. Securities and Exchange Commission, withoutadmitting or denying the agency’s findings. He had been charged with helping fraudulently conceal over $140 million in compensation and retirement benefits on behalf of his former boss.New LifeThe resident of Nashville, Tennessee, served as one of three senior directors after a more than 30-year career with Nissan. He stepped down from his operational roles in 2015 while retaining the board seat. Far from enjoying semi-retirement at his vacation home in Florida, Kelly has spent the past year preparing for his day in court and living in a rented apartment in a central Tokyo business district.In this new life, Kelly rises around 6 a.m. and takes a walk or jog around the grounds of Tokyo’s Imperial Palace, followed by a quick breakfast of rice balls or fresh fruit from a nearby 7-Eleven convenience store.His wife said he then spends much of the day at his Japanese attorney’s office reading through documents from prosecutors and consulting with his legal team. Then it’s back to the small apartment, decorated with a few framed pictures of family and friends, and the recent addition of a miniature Christmas tree.Learning JapaneseDee Kelly spends as much time as she can with her husband, but must attend Japanese language school to maintain legal status in Japan as a student. Without that, her stays would be limited to 90-day stints under Japan’s visa-free program for tourists.Most of Greg Kelly’s friends from his time spent working in Japan have retired, returned to their home country or moved away to their next assignment. The terms of his bail prohibit him from contacting Nissan employees anyway, further limiting his circle of confidants.“It can be a lonely existence,” Dee Kelly said. “I don’t think that anything good has come from being isolated from family and friends for the last 15 months.”The toughest aspect of Kelly’s predicament is not being able to see his two sons in the U.S. He was particularly upset not to have been able to be back for the birth of a grandchild last month.“We had asked permission from the court to go to the U.S. for two weeks at Christmas,” Dee Kelly said. “We never received a response.”To contact the reporter on this story: Chester Dawson in Southfield at cdawson54@bloomberg.netTo contact the editors responsible for this story: Craig Trudell at ctrudell1@bloomberg.net, Kevin MillerFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.

  • Renault shares fall on worries Nissan alliance doomed without Ghosn
    Reuters

    Renault shares fall on worries Nissan alliance doomed without Ghosn

    PARIS/TOKYO (Reuters) - Renault shares hit six-year lows on Monday as investors worried the French automaker's 20-year cost-sharing alliance with Nissan is headed for a break-up without Carlos Ghosn to hold it together. Following a dramatic flight from Japanese justice late last month, Ghosn called the alliance a "masquerade" during a press briefing last week. A Financial Times report on Monday that Nissan executives are making contingency plans for a split with Renault appeared to accelerate a sell-off in the French manufacturer's shares.

  • Nissan Examines Possibility of Breaking Away From Renault
    Bloomberg

    Nissan Examines Possibility of Breaking Away From Renault

    (Bloomberg) -- Nissan Motor Co. executives have examined the possibility of breaking away from Renault SA amid concerns that relations with the longtime French partner have turned dysfunctional after the ouster of former chief Carlos Ghosn, according to a person familiar with the matter.Since last year, Nissan has been exploring the pros and cons of sustaining the alliance, particularly when it comes to engineering and technology sharing, according to the person, who asked not to be identified discussing confidential matters. Those studies predate Ghosn’s escape from Japan and were preliminary, so no decision has been made, the person said.It’s unclear how feasible any separation would be given that Renault is Nissan’s biggest shareholder and the French partner has been pushing for a repair of ties.Still, the comments illustrate the fragile state of the relationship between the Japanese and French auto giants after Ghosn, who balanced the world’s largest automotive alliance for years as head of both companies, was arrested late 2018 in Japan on allegations of financial misconduct. Ghosn’s legal odyssey took a dramatic turn recently when he fled Japan for Lebanon and became the world’s most famous fugitive.Since Ghosn’s downfall, the two carmakers have struggled financially — their shares were the two worst performers among major automakers last year — and drifted apart at a time when the costs of electrification and autonomous driving are pressuring incumbent carmakers to team up or consolidate.Relations between the two companies are “broken and likely beyond the point of repair,” Evercore ISI analyst Arndt Ellinghorst wrote in a note on Monday.A representative for Nissan declined to comment. Renault declined to comment. The Financial Times reported earlier that Ghosn’s escape from Japan had spurred Nissan executives to accelerate secret contingency plans to potentially split from Renault.The board of the Renault-Nissan alliance is scheduled to meet on Jan. 30 and the meeting could lead to announcements about joint projects, according to another person familiar with the matter.(Updates with scheduled alliance meeting in final paragraph)\--With assistance from Reed Stevenson.To contact the reporters on this story: Kae Inoue in Tokyo at kinoue@bloomberg.net;Ania Nussbaum in Paris at anussbaum5@bloomberg.netTo contact the editors responsible for this story: Young-Sam Cho at ycho2@bloomberg.net, ;Tara Patel at tpatel2@bloomberg.net, Ville HeiskanenFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.

  • Reuters

    New diesel cars exceed particle limits - EU environmental group

    New diesel vehicles are exceeding the limit for particle emissions, European campaign group Transport and Environment (T&E) said on Monday, calling on EU lawmakers to make emissions testing and regulations stricter. Four years after Volkswagen admitted to cheating U.S. diesel engine tests, new tests of two of 2018's top-selling diesel car models in Europe showed their particle pollution spiked to 1,000 times normal levels during the regular process of cleaning out their anti-pollution filters, T&E said. The tests on the Nissan Qashqai and Opel/Vauxhall Astra showed they were 32% to 115% over the legal limit of 600 billion particles per kilometre during the automated filter cleaning.

  • Bloomberg

    VW, Nissan Chase African Market Where Car Loans Are Rare

    (Bloomberg) -- Volkswagen AG and Nissan Motor Co. are among automakers planning new plants in Ghana to target West Africa’s 382 million people. Their challenge: Finding banks that will offer loans to make new cars affordable.In a country where about 70% of imports are second-hand, new car ownership is rare, said Believe Alorbu, who sells older models shipped from the U.S. at half the price of a new one.“People will sometimes leave the plastic wrapping on their seats” when they buy new cars, she said at her dealership in the capital, Accra. “Even if the government increases tariffs on used cars, people will still not be able to afford new ones if they don’t get access to financing.”Less than 5% of new car sales are financed by banks, according to the Ghana Automobile Dealers Association. In some cases, lenders demand employers agree to redirect part of the purchaser’s salary toward the debt, or that the owner take out insurance to cover a default. Interest rates of 22%-30% also make loans “largely” unaffordable, said Koketso Tsoai, an auto-industry analyst at Fitch Solutions.Once their facilities are running, VW, Toyota Motor Corp., Nissan, and possibly Renault SA will need to contend with second-hand cars like those sold by Alorbu. Ghana’s government is trying to make it more attractive with planned import duties on second-hand cars of 35%, from 5%-20%, and fiscal incentives that improve as the companies move from assembly to local production, with tax holidays of as long as 10 years. It has also pledged to promote regional exports.“We don’t look at it only for today,” Nissan Africa Chairman Mike Whitfield said by phone from Cairo. “We continue to see Africa as the last frontier left in the automotive market, West Africa being a key part of it.”About 10% of West Africa’s population are able to spend more than $11 a day, according to data compiled by World Data Lab. It is this group that the industry is targeting on a continent that adds some 10 million new consumers annually. By 2030, Africa’s middle- and upper-income class is expected to exceed 300 million of the world’s 4-billion consumer market, the data shows.‘Huge Opportunity’Standard Bank Group Ltd., Africa’s largest lender, is also preparing for future growth by replicating its South African car-financing business in other parts of the continent, including Ghana.About three quarters of auto loans still go to companies, Patrick Koduah, head of vehicle and asset finance at the company’s Stanbic Ghana unit, said in an interview. “There’s a huge opportunity to grow personal demand.”About 30,000 passenger vehicles were imported into Ghana in 2018, according to estimates from Fitch Solutions. Ghana had 7,073 new vehicle registrations in 2018, of which 4,268 were passenger cars, according to the International Organization of Motor Vehicle Manufacturers.While the government has said its auto-incentives program would include the creation of an asset-based vehicle financing component, a trade ministry spokesman couldn’t provide details on how it would work.Pan-African lender Ecobank Transnational Inc. said in an email that the average car loan in Ghana amounts to $30,000. Banks typically demand a high down payment and limit loans to no longer than five years if they do grant credit, while dealers sometimes allow buyers to spread repayments over six months.More than 90% of new vehicle sales in South Africa, the continent’s biggest market, are probably financed, Thomas Schaefer, the head of Volkswagen’s local unit, estimated. The country had a penetration rate of 132 passenger cars per 1,000 people in 2019, compared with 22 per 1,000 people in Ghana, according to Fitch Solutions.“If I would take out the financing options in South Africa, our market would disappear,” Schaefer said.The Wolfsburg-based carmaker plans to start a ride-hailing service in Accra, modeled after a similar one in the Rwandan capital, Kigali, to ensure its output is absorbed.Regional Gateway“The assumption is that in Africa, out of the more than 1 billion people, there are only about 100 million people who can afford a new car, but you may have a couple 100 million people who need to go from A to B and a bit of money in their pocket,” said Schaefer. “You need to tap into this market.”Nissan sees its assembly plant starting by the end of the year, depending on when Ghana’s auto-policy is signed into law. Volkswagen plans to start by April. Toyota, which described Ghana as “an extremely important market in West Africa,” declined to share details about its strategy.Ghana won’t be the first country to position itself as a gateway to West Africa. Nigeria announced a very similar policy in 2013. However, after a change in government and years in the legislative system, President Muhammadu Buhari rejected the bill in July last year. Automakers have also signed agreements with Ivory Coast’s government.“Ivory Coast has already taken some steps in the right direction, which aim to limit the import of used vehicles,” said Leonce Yace, managing director of Ivorian lender NSIA Banque. The company, one of the key players in vehicle finance in the country, saw a 41% year-on-year increase in auto loans in 2019.“It is not about who should be the hub, it’s about who offers the best deal,” said Chris Ndala, managing director of CICA Motors Liberia, a subsidiary of the French group CFAO SA.The car companies are beginning small in Ghana, with 5,000 units a year or less, and are expected to partner with local firms.“We’ll all go as the business and the market goes,” Nissan’s Whitfield said. “The critical thing is that it’s starting.”Alorbu, the second-hand dealer, doesn’t see the used-car business getting displaced anytime soon.“They make it sound like used-car dealers are the enemy, but we are helping the consumer,” she said. “If the government is not ready or willing to provide financing, selling new cars will be a problem.”(Adds detail of tax incentives in fifth paragraph)\--With assistance from Tsuyoshi Inajima, Leanne de Bassompierre and Ekow Dontoh.To contact the reporter on this story: Yinka Ibukun in Accra at yibukun@bloomberg.netTo contact the editors responsible for this story: Andre Janse van Vuuren at ajansevanvuu@bloomberg.net, ;Stefania Bianchi at sbianchi10@bloomberg.net, Vernon WesselsFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.

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