{"id":839928,"date":"2025-04-08T18:13:17","date_gmt":"2025-04-08T23:13:17","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/04\/08\/japanese-automakers-honda-nissan-and-mitsubishi-drop-their-talks-on-a-business-integration\/"},"modified":"2025-04-08T18:13:17","modified_gmt":"2025-04-08T23:13:17","slug":"japanese-automakers-honda-nissan-and-mitsubishi-drop-their-talks-on-a-business-integration","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/04\/08\/japanese-automakers-honda-nissan-and-mitsubishi-drop-their-talks-on-a-business-integration\/","title":{"rendered":"Japanese automakers Honda, Nissan and Mitsubishi drop their talks on a business integration"},"content":{"rendered":"<div>\n<section>\n<p>Article content<\/p>\n<p>TOKYO (AP) \u2014 Japanese automakers Honda, Nissan and Mitsubishi said Thursday they are ending talks on business integration.<\/p>\n<\/section>\n<section data-aqa=\"identity-sign-in\" data-async id=\"article-block\">\n<header>\n<div>\n<p><img decoding=\"async\" alt=\"Financial Post\" height=\"37\" loading=\"lazy\" src=\"https:\/\/dcs-static.gprod.postmedia.digital\/18.4.2\/websites\/images\/identity\/logo-identity-fp.svg\" width=\"280\"><\/p>\n<div>\n<p>THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY<\/p>\n<p>Subscribe now to read the latest news in your city and across Canada.<\/p>\n<ul>\n<li>Exclusive articles from Barbara Shecter, Joe O&#8217;Connor, Gabriel Friedman, and others.<\/li>\n<li>Daily content from Financial Times, the world&#8217;s leading global business publication.<\/li>\n<li>Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\n<li>National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\n<li>Daily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n<div>\n<p>SUBSCRIBE TO UNLOCK MORE ARTICLES<\/p>\n<p>Subscribe now to read the latest news in your city and across Canada.<\/p>\n<ul>\n<li>Exclusive articles from Barbara Shecter, Joe O&#8217;Connor, Gabriel Friedman and others.<\/li>\n<li>Daily content from Financial Times, the world&#8217;s leading global business publication.<\/li>\n<li>Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\n<li>National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\n<li>Daily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n<div>\n<p>REGISTER \/ SIGN IN TO UNLOCK MORE ARTICLES<\/p>\n<p>Create an account or sign in to continue with your reading experience.<\/p>\n<ul>\n<li>Access articles from across Canada with one account.<\/li>\n<li>Share your thoughts and join the conversation in the comments.<\/li>\n<li>Enjoy additional articles per month.<\/li>\n<li>Get email updates from your favourite authors.<\/li>\n<\/ul>\n<\/div>\n<div>\n<p>THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.<\/p>\n<p>Create an account or sign in to continue with your reading experience.<\/p>\n<ul>\n<li>Access articles from across Canada with one account<\/li>\n<li>Share your thoughts and join the conversation in the comments<\/li>\n<li>Enjoy additional articles per month<\/li>\n<li>Get email updates from your favourite authors<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n<div data-auth-component id=\"auth-screen-form\" aria-live=\"assertive\">\n<h2>Sign In or Create an Account<\/h2>\n<p><span><\/span><span>or<\/span><span><\/span><\/p>\n<\/div>\n<\/section>\n<section>\n<p>Article content<\/p>\n<\/section>\n<section>\n<p>Article content<\/p>\n<p>Nissan Chief Executive Makoto Uchida said the talks had changed focus from setting up a joint holding company to making Nissan into a subsidiary of Honda.<\/p>\n<\/section>\n<section>\n<p>Article content<\/p>\n<p>\u201cThe intent was to join forces to win in the global competition, but this was not going to realize Nissan\u2019s potential, so I could not accept it,\u201d he told reporters. He said that Nissan was going to aim for a turnaround without Honda instead.<\/p>\n<\/section>\n<section>\n<p>Article content<\/p>\n<\/section>\n<section>\n<p>Article content<\/p>\n<p>Honda Chief Executive Toshihiro Mibe said in a separate news conference that Honda had suggested a stock swap to speed up decision-making.<\/p>\n<\/section>\n<section>\n<p>Article content<\/p>\n<div aria-labelledby=\"FinancialPostTopStories2887498298056313083188221529030656\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-aqa=\"widget-newsletter\" data-newsletter=\"single\" data-newsletter-component data-target-list=\"FP_HeadlineNews\" data-widget=\"newsletter\">\n<p>By signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n<\/section>\n<section>\n<p>Article content<\/p>\n<p>\u201cI am really disappointed,\u201d Mibe told reporters. \u201cI felt the potential was great, but I also knew actions that would bring pain were necessary to realize that.\u201d<\/p>\n<\/section>\n<section>\n<p>Article content<\/p>\n<p>The automakers agreed to end their agreement on considering a structure for a collaboration, a joint statement said. The decision was passed by board meetings at each of the companies.<\/p>\n<\/section>\n<section>\n<p>Article content<\/p>\n<p>Honda Motor Co. and Nissan Motor Corp. announced in December that they were going to hold talks to set up a joint holding company. Mitsubishi Motors Corp. had said it was considering joining that group.<\/p>\n<\/section>\n<section>\n<p>Article content<\/p>\n<p>From the start, the effort had analysts puzzled as to the advantages to any of the companies, as their model lineups and strengths overlap in an industry shaken by the arrival of powerful newcomers like Tesla and BYD, as well as the move to electrification.<\/p>\n<\/section>\n<section>\n<p>Article content<\/p>\n<p>Honda and Nissan initially said they were trying to finalize an agreement by June and set up the holding company by August.<\/p>\n<\/section>\n<section>\n<p>Article content<\/p>\n<p>The three automakers will continue to work together on electric vehicles and smart cars, such as autonomous driving, they said Thursday.<\/p>\n<\/section>\n<section>\n<p>Article content<\/p>\n<\/section>\n<section>\n<p>Article content<\/p>\n<p>In recent weeks, Japanese media had various reports about the talks breaking down, citing unidentified sources. Some said Nissan balked at becoming a minor player in the partnership with Honda.<\/p>\n<\/section>\n<section>\n<p>Article content<\/p>\n<p>Mibe denied he knew or heard anything about the media speculation that Taiwan\u2019s Foxconn was considering taking a stake in Nissan.<\/p>\n<\/section>\n<section>\n<p>Article content<\/p>\n<p>Uchida also denied have held any official talks with Foxconn but stressed that various options will be considered as Nissan attempts a turnaround, promising a more detailed turnaround plan within a month.<\/p>\n<\/section>\n<section>\n<p>Article content<\/p>\n<p>Honda is in far better financial shape and was to take the lead in the joint executive team. Honda reported Thursday that its April-December 2024 profits declined 7% to 805 billion yen ($5 billion).<\/p>\n<\/section>\n<section>\n<p>Article content<\/p>\n<p>Nissan reported a loss for the July-September quarter as its vehicle sales sank, prompting it to slash 9,000 jobs. At that time, Uchida took a 50% pay cut to take responsibility for the results.<\/p>\n<\/section>\n<section>\n<p>Article content<\/p>\n<p>On Thursday, Nissan reported that its April-December profit crashed to 5.1 billion yen ($33 million) from 325 billion yen ($2.1 billion) last year, and projected losses of 80 billion yen ($519 million) for the full fiscal year through March.<\/p>\n<\/section>\n<section>\n<p>Article content<\/p>\n<p>When asked by reporters if he would resign to take responsibility for Nissan\u2019s results, Uchida expressed openness to departing but said it was the board\u2019s decision.<\/p>\n<\/section>\n<section>\n<p>Article content<\/p>\n<p>___<\/p>\n<\/section>\n<section>\n<p>Article content<\/p>\n<p>Yuri Kageyama is on Threads: https:\/\/www.threads.net\/\u2195yurikageyama<\/p>\n<\/section>\n<section>\n<p>Article content<\/p>\n<\/section>\n<\/div>\n<p> The Associated Press <br \/><a href=\"https:\/\/financialpost.com\/pmn\/japanese-automakers-honda-nissan-and-mitsubishi-drop-their-talks-on-a-business-integration\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Article content TOKYO (AP) \u2014 Japanese automakers Honda, Nissan and Mitsubishi said Thursday they are ending talks on business integration. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Exclusive articles from Barbara Shecter, Joe O&#8217;Connor, Gabriel Friedman, and others. Daily content from Financial<\/p>\n","protected":false},"author":1,"featured_media":839929,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33895,3899],"tags":[6928,6321],"class_list":["post-839928","post","type-post","status-publish","format-standard","has-post-thumbnail","category-automakers","category-japanese","tag-automakers","tag-japanese"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/839928","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=839928"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/839928\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/839929"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=839928"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=839928"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=839928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}