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    7201   JP3672400003

NISSAN MOTOR CO LTD

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Delayed Japan Exchange  -  02:00 2022-08-09 am EDT
521.00 JPY   -0.61%
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Nissan says it is too early to predict EV unit spin-off

05/12/2022 | 11:29pm EDT
Man walks in front of the Nissan logo at Nissan Gallery in Yokohama

TOKYO (Reuters) - It is too early to say whether Nissan Motor Co would spin off its electric vehicle (EV) business division like its alliance member Renault is seeking to do, a senior executive of the Japanese automaker said on Friday.

"It's too early to consider because of our diversified market portfolio and diversified product portfolio," Nissan COO Ashwani Gupta said.

The French carmaker said in April all options were on the table for separating its EV business, including a possible public listing, as it seeks to catch up with rivals such as Tesla and Volkswagen.

But the move has raised speculation that Renault may consider lowering its stake in Nissan.

Renault owns 43.4% of Nissan, which in turn has a 15% non-voting stake in the French company, and the structure of their partnership has long been a source of friction in Japan.

As an alliance member, Nissan would support Renault's endeavors, Gupta told reporters.

At the same time, Nissan needs to focus on both electric vehicles and internal-combustion engine cars that include the hybrids, he said.

(Reporting by Satoshi Sugiyama; Editing by Himani Sarkar and Stephen Coates)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
NISSAN MOTOR CO LTD -0.61% 521 Delayed Quote.-5.69%
RENAULT -0.05% 30.145 Real-time Quote.-1.26%
TESLA, INC. 0.78% 871.27 Delayed Quote.-17.55%
VOLKSWAGEN AG -0.11% 145.34 Delayed Quote.-17.91%
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Financials
Sales 2023 10 107 B 75 068 M 75 068 M
Net income 2023 254 B 1 883 M 1 883 M
Net Debt 2023 4 805 B 35 692 M 35 692 M
P/E ratio 2023 8,11x
Yield 2023 2,24%
Capitalization 2 052 B 15 241 M 15 241 M
EV / Sales 2023 0,68x
EV / Sales 2024 0,64x
Nbr of Employees 134 111
Free-Float 45,7%
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Mean consensus OUTPERFORM
Number of Analysts 19
Last Close Price 524,20 JPY
Average target price 680,00 JPY
Spread / Average Target 29,7%
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Managers and Directors
Makoto Uchida Program Director
Stephen Ma Chief Supervisor
Yasushi Kimura Chairman
Kunio Nakaguro Executive Vice President, Head-R&D
Yasunobu Matoba Chief Information Officer & Head-Global IT
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