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Nissan to review ties with Renault

Jiji Press

Nissan Motor Co. President Hiroto Saikawa speaks at a press conference Monday.

Jiji Press YOKOHAMA (Jiji Press) — Hiroto Saikawa, president of Nissan Motor Co., said Monday that the automaker will review its capital ties with France’s Renault SA.

At a press conference in Yokohama, Saikawa indicated that the mutual investment ratios will specifically be reconsidered.

The French government, a major shareholder of Renault, aims to have the two companies merge to strengthen the country’s auto industry.

But Saikawa said independence is the source of growth for Nissan and Renault.

Renault owns 43.4 percent of Nissan, which has a 15 percent stake in the French automaker.

The alliance of Renault, Nissan and Mitsubishi Motors Corp., of which Nissan owns 34 percent, sold a total of 10.6 million vehicles in 2017 to become the world’s second-largest auto supplier.

Paris has urged Carlos Ghosn, who serves as chairman of both Nissan and Renault, to help Renault maintain its alliance with Nissan and Mitsubishi for a long term after he retires. In an interview with a French news organization, Ghosn did not rule out a merger possibility.

Although Saikawa also thinks it important to keep the ties with the French partner, he does not see any option that will hamper Nissan’s independence as beneficial for the Japanese automaker, people familiar with the matter said.

Some Nissan officials dislike the current situation in which their company has no voting right in Renault, they added.Speech

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