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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Nissan Motor Co., Ltd.    7201   JP3672400003

NISSAN MOTOR CO., LTD.

(7201)
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Nissan says 'absolutely not' in talks about Mitsubishi stake sale

11/16/2020 | 10:01am EST

Nov 16 (Reuters) - Nissan Motor Co is "absolutely not" in talks to sell its stake Mitsubishi Motors Corp, Nissan's chief operating officer said on Monday, following a report the carmaker was considering pulling out of its alliance partner.

"We are not in any discussion or consideration of changing the capital structure in our partner companies. We are moving ahead with many projects," Ashwani Gupta said in an interview at the Reuters Automotive Summit teleconference.

He spoke after Bloomberg News reported earlier, citing unidentified sources, that Nissan was considering selling its 34% stake in Mitsubishi Motor to help it cope with the slump in demand caused by the COVID-19 pandemic.

Such a deal would fundamentally reshape a three-way alliance that includes France's Renault built by Carlos Ghosn, former chairman of the alliance. The partnership was plunged into uncertainty when Ghosn was arrested in 2018 on financial misconduct charges, which he denies.

At Monday's closing price in Tokyo, Nissan's stake in Mitsubishi Motors was worth 102.2 billion yen ($975.8 million).

Nissan shares rose 5% on the Bloomberg report, while Mitsubishi Motors, which said it would continue to collaborate with its alliance partner, gained 3%.

Nissan, which is 43% owned by Renault, last week cut its operating loss forecast for the year to March by 28%, helped by a rebound in demand, especially in China.

Mitsubishi Motors, Japan’s No.6 automaker, expects to post an operating loss of 140 billion yen for its business year.

Both companies are cutting production levels and costs in a bid to return to profitability.

($1 = 104.7400 yen) (Reporting by Joseph White; Additional reporting by Norihiko Shirouzu; Writing by David Dolan; Editing by David Goodman and Mark Potter)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
MITSUBISHI MOTORS CORPORATION 2.99% 241 End-of-day quote.11.06%
NISSAN MOTOR CO., LTD. 2.03% 567.5 End-of-day quote.1.34%
RENAULT 1.25% 35.25 Real-time Quote.-2.64%
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Financials
Sales 2021 7 759 B 74 956 M 74 956 M
Net income 2021 -477 548 M -4 613 M -4 613 M
Net Debt 2021 6 232 B 60 202 M 60 202 M
P/E ratio 2021 -4,66x
Yield 2021 -
Capitalization 2 221 B 21 433 M 21 452 M
EV / Sales 2021 1,09x
EV / Sales 2022 0,95x
Nbr of Employees 136 134
Free-Float 45,6%
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Technical analysis trends NISSAN MOTOR CO., LTD.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 20
Average target price 567,00 JPY
Last Close Price 567,50 JPY
Spread / Highest target 161%
Spread / Average Target -0,09%
Spread / Lowest Target -41,9%
EPS Revisions
Managers and Directors
NameTitle
Makoto Uchida Executive President & Chief Executive Officer
Yasushi Kimura Chairman
Ashwani Gupta COO & Representative Executive Officer
Stephen Ma Chief Financial Officer & Executive Officer
Anthony Thomas Chief Information Officer
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