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    7201   JP3672400003

NISSAN MOTOR CO LTD

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Delayed Japan Exchange  -  05/20 12:49:25 am EDT
494.20 JPY   +2.32%
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Nissan, Mitsubishi halt minivehicle shipments on airbag issues

12/24/2021 | 04:38am EDT

Nissan Motor Co. and Mitsubishi Motors Corp. said Friday they had stopped production and shipment of some of their minivehicles since earlier in the month after finding potential problems with the airbags installed in several models.

Nissan said that collision tests conducted on its Nissan Roox model showed that the airbags might not function properly under certain conditions. Mitsubishi said in a separate statement that similar issues were found in its eK space and eK X space models.

The automakers did not elaborate on what conditions would lead to the airbags not functioning properly.

However, both companies said there are no safety concerns when vehicles are driven regularly and that airbags will function when they collide.

Nissan and Mitsubishi Motors said they had suspended the production, shipping and sales of the three minivehicle models since Dec. 3 to look into the matter without revealing the timeline for a resumption.

The three models have been produced under a joint venture between the two companies. The models were developed by Nissan and produced at Mitsubishi's factory in Okayama Prefecture, western Japan.

The companies said that they will decide whether to launch a recall of the units depending on the outcome of their investigation into the problem.

==Kyodo

© Kyodo News International, Inc., source Newswire

Stocks mentioned in the article
ChangeLast1st jan.
MITSUBISHI MOTORS CORPORATION 1.33% 381 Delayed Quote.17.45%
NISSAN MOTOR CO LTD 2.34% 494.2 Delayed Quote.-9.59%
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Financials
Sales 2022 8 673 B 68 102 M 68 102 M
Net income 2022 221 B 1 739 M 1 739 M
Net Debt 2022 5 298 B 41 599 M 41 599 M
P/E ratio 2022 8,56x
Yield 2022 0,71%
Capitalization 1 891 B 14 846 M 14 846 M
EV / Sales 2022 0,83x
EV / Sales 2023 0,74x
Nbr of Employees 131 461
Free-Float 45,7%
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Number of Analysts 18
Last Close Price 483,00 JPY
Average target price 685,88 JPY
Spread / Average Target 42,0%
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Managers and Directors
Makoto Uchida Executive President & Chief Executive Officer
Stephen Ma Chief Financial Officer & Executive Officer
Yasushi Kimura Chairman
Anthony Thomas Chief Information Officer
Ashwani Gupta COO & Representative Executive Officer
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