COMMENTS

JON WITHAAR, HEAD OF ASIA SPECIAL SITUATIONS, PICTET ASSET MANAGEMENT

"Whilst it was clear for some time that a restructuring of the alliance was needed given the competing cultural and business differences between the companies, it doesn't seem likely that there will be a significant change in the relationship other than an orderly disposal of the Renault holding in Nissan to put the relationship on an equal economic footing.

"The ability to exercise voting rights (by Nissan) is welcome from a corporate governance perspective and acts as a guardrail to keep interests aligned between the two parties.

"The announcement is neutral to mildly positive in the mid to long term. Ultimately it means that a disorderly unwind of the alliance has been avoided which is a positive. Overall it shows the changes that the auto makers are being forced to adopt to tackle the electric transition. Companies are now more willing to partner in order to achieve scale and technological edge than in previous cycles."

MASAYUKI KUBOTA, CHIEF STRATEGIST AT RAKUTEN SECURITIES

"It should be seen from a short- and long-term perspective.

"Over the short term, it's possible there may be selling (of Nissan shares) due to a worsening of supply and demand. But over the long run, the normalisation of the capital relationship will raise the amount of freedom Nissan has in terms of management, making it easier to adopt a strategy that focuses on the United States, China and emerging markets."

GREGOIRE LAVERNE, APICIL ASSET MANAGEMENT

"The market is waiting for more details...In a way it marks the failure of the first version of the alliance."

(Reporting by Rae Wee in Singapore, Daniel Leussink in Tokyo and Sudip Kar-Gupta in Paris; Editing by Kirsten Donovan)