Fears major UK car factory where Nissan Qashqais are made every minute could SHUT after merger plans collapse

Given the latest performance of our company and the changing environment it is essential we explore options without any taboo and carry out a deeper structural reform.”

They added

Instead of establishing a joint holding company, we proposed a management integration through a stock swap. Our top priority was to quickly establish a unified governance structure,

said Mibe

The purpose of the management integration was for both companies to join forces and become a stronger entity to compete globally. However, under the proposed structure, where Nissan would become a wholly owned subsidiary of Honda, we were uncertain about how much autonomy we could maintain and whether Nissan’s full potential could truly be realized."

Nissan President Makoto Uchida explained at another news conference on Thursday

After much consideration by both companies, we have officially decided to terminate the basic agreement and end the negotiations. Likewise, we have also decided to terminate the memorandum of understanding among the three companies, including Mitsubishi Motors, with formal approval from the boards of directors of all three companies."

During a news conference on Thursday, Honda President Toshihiro Mibe said

We have not discussed this at the management level." ... Moving forward, we are open to discussing proposals from various parties that contribute to our growth."

Regarding such media reports, Uchida said ... However, he added

I want to fulfill my duties as quickly as possible and hand over the leadership to my successor as soon as circumstances allow,

he said

To achieve an operating profit margin of 4 percent in fiscal 2026, we need to reduce variable costs by 100 billion yen and fixed costs by more than 300 billion yen,

he said

Honda proposed changing the structure from establishing a joint holding company, where Honda would appoint the majority of directors and the chief executive officer based on a joint share transfer as initially outlined in the MOU, to a structure where Honda would be the parent company and Nissan the subsidiary through a share exchange,

Nissan wrote in a statement

The talks started because we believe that we must build up capabilities to fight them, including the current emerging forces, by 2030,

Honda's chief executive Toshihiro Mibe said, in reference to the Chinese competition

That the both companies were not able to reach an agreement is very regrettable,

Honda's CEO and president Toshihiro Mibe told reporters

If cooperation requires it (purchasing Nissan shares), we will consider it,

Foxconn’s chairman Young Liu told reporters on Wednesday

Honda is pretty confident and has a lot in their favour, whereas Nissan is in a bad place. They don't have a dance partner right now,

said Christopher Richter, Japan autos analyst at brokerage CLSA

Going forward, the three companies will collaborate within the framework of a strategic partnership aimed at the era of intelligence and electrified vehicles,

the trio said in a statement

With the proposal suggesting Nissan would become a wholly owned subsidiary, we were not confident that our autonomy would be preserved or Nissan’s potential could be truly maximised.”

Nissan chief Makoto Uchida said

We never really thought about a hostile takeover bid option and have no plans to do so going forward,

Mr Mibe said on Thursday

The intent was to join forces to win in the global competition, but this was not going to realize Nissan's potential, so I could not accept it,

he told reporters

We reaffirmed such integration would require decisive, painful decision-making,

he said