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Image source: The Japan Times. |
Although the proposed merger between Honda and Nissan fell through, recent reports from international media outlets reveal that Nissan is still hopeful for an investment from its domestic rival.
According to Carscoops, a source from Japan disclosed that Nissan is attempting to negotiate further with Honda to secure additional investment for the company’s survival. With its financial situation becoming increasingly precarious, Nissan is exploring all options to stay afloat, even considering replacing its current CEO, Makoto Uchida.
Citing Nikkei Business, the report suggests that if Nissan accepts Honda’s investment, Uchida would have to step down as CEO. On March 6, the company will hold a meeting to discuss leadership restructuring. If Uchida is ousted, Jeremy Papin, the current CFO, will lead the new negotiation with Honda.
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Even Nissan’s CEO acknowledged that the company would struggle to stand alone without partner support. Image source: Nissan. |
Uchida previously expressed to the media his willingness to step down as CEO to stabilize Nissan’s business. Following the collapse of the merger, he admitted that the company would find it challenging to remain competitive without partner support.
“Given the current situation, it would be difficult for Nissan to compete alone, which is why we are seriously considering Honda’s proposal,” Uchida shared.
Nissan endured a tough year in 2024, with its net income plunging and profits declining sharply. By the end of last year, Nissan recorded a profit of just USD 950 million, a 74% drop compared to the previous year, with a profit margin of only 0.5%.
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