TOKYO, Jan. 31 (Xinhua) — Honda Motor Co. and Nissan Motor Co. are set to disclose the specifics of their deliberate merger in mid-February, Kyodo News cited firm officers as saying on Friday.
The two automakers, Japan’s second- and third-largest by quantity, beforehand introduced plans to merge underneath a holding firm in 2026 and had initially aimed to reveal additional particulars by the tip of January.
According to sources accustomed to the matter, Honda has been pushing Nissan to speed up its restructuring efforts. In November, Nissan introduced plans to chop 9,000 jobs worldwide and cut back its world manufacturing capability by 20 % after reporting a greater than 90 % drop in internet revenue for the April-September interval.
Meanwhile, Mitsubishi Motors Corp., a associate of Nissan, had been contemplating becoming a member of the merger however is now leaning towards remaining unbiased, the report cited different sources as saying.