TestenGOLD- Free

Honda, Nissan tie up big-bang merger

Mint Mumbai|December 24, 2024
Honda Motor Co. and Nissan Motor Co. took their first historic steps towards merging, in hopes of creating a juggernaut that can survive aggressive competition from China that's roiling the industry.
- Bloomberg
Honda, Nissan tie up big-bang merger

The two Japanese auto manufacturers signed a basic agreement for merger talks on Monday and held a joint media briefing in Tokyo. Honda also said it will buy back as much as ¥1.1 trillion ($7 billion) of its own shares.

A holding company will be created to house the new entity and should be listed by August 2026, the firms said, adding that Honda will be able to nominate a majority of the new company's board of directors.

Mitsubishi Motors Corp., which is 24.5% owned by Nissan, also signed the memorandum of understanding and will likely be part of the group with a final decision on that expected by the end of January.

Such an alliance would give rise to one of the world's largest carmakers, pitting the trio against Toyota Motor Corp. at home and Chinese automakers abroad, including BYD Co. and Geely Automobile Holdings Ltd. Toyota has stakes in Subaru Corp., Suzuki Motor Corp. and Mazda Motor Corp., creating a powerhouse of brands backed by its top-notch credit rating.

Yet while forecasting an operating profit of more than ¥1 trillion that would eventually climb to ¥3 trillion for the combined entity, Honda chief executive officer Toshihiro Mibe did not address how the companies would combine their businesses to face pressing issues like shutting or streamlining factories.

"Both companies will continue as wholly owned subsidiaries of the joint holding company with their respective brands in place," Mibe said. Honda will take the lead as the new company is being formed, he said, underscoring the company's much stronger position versus Nissan, whose sales have slumped amid a line-up of cars that consumers no longer find exciting.

Diese Geschichte stammt aus der December 24, 2024-Ausgabe von Mint Mumbai.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 9.500 Zeitschriften und Zeitungen zuzugreifen.

Diese Geschichte stammt aus der December 24, 2024-Ausgabe von Mint Mumbai.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 9.500 Zeitschriften und Zeitungen zuzugreifen.

WEITERE ARTIKEL AUS MINT MUMBAIAlle anzeigen
Mint Mumbai

The fear of missing out is raising our risk of stampedes

It was on the night of 3 June that Royal Challengers Bengaluru (RCB), a cricket team with a vast fan following, finally succeeded in lifting their maiden Indian Premier League (IPL) trophy after a wait of 18 long years.

time-read
3 Minuten  |
June 20, 2025
Mint Mumbai

Israel hits nuclear sites, Iran strikes hospital

Israel bombed nuclear targets in Iran on Thursday and Iranian missiles hit an Israeli hospital overnight, as the week-old air war escalated with no sign yet of an off-ramp.

time-read
1 min  |
June 20, 2025
Mint Mumbai

Central Banks Trim Rate as War, Tariffs Fog Outlook

Trump Is Due in Coming Days to Say Whether Tariffs Currently Pegged at a 10% Baseline Will Rise

time-read
1 min  |
June 20, 2025
Mint Mumbai

Strike threat looms over Hyundai's Chennai plant

South Korean automotive giant Hyundai Motor's India unit faces a potential worker strike at its plant near Chennai from a union backed by the Communist Party of India (Marxist) or the CPI(M), if the outcome of ongoing triennial wage negotiations is not to the union's satisfaction.

time-read
3 Minuten  |
June 20, 2025
Mint Mumbai

Catch-22 for banks as interest rates dip

Banks must cut deposit rates; but that may put off depositors

time-read
2 Minuten  |
June 20, 2025
Mint Mumbai

HZL Expansion Plan Not Enough

Mixed bag Continued buoyancy in silver prices should support Hindustan Zinc's FY26 earnings despite dull prospects for other metals.

time-read
2 Minuten  |
June 20, 2025
Mint Mumbai

Pablo Isla to head Nestlé as chairman

Nestlé SA extended its leadership overhaul by proposing longtime Inditex SA executive Pablo Isla as its next chairman to succeed company veteran Paul Bulcke when he retires next year.

time-read
1 min  |
June 20, 2025
Sebi's New Reforms Will Help Only Up To A Point
Mint Mumbai

Sebi's New Reforms Will Help Only Up To A Point

The regulator's latest changes are welcome from a capital market perspective. However, policymakers must always take the viewpoint of households and lay investors into account

time-read
2 Minuten  |
June 20, 2025
HDB Financial IPO to open on 25 June
Mint Mumbai

HDB Financial IPO to open on 25 June

DB Financial Services, a unit of private lender HDFC Bank, will open its initial public offering (IPO) for subscription for retail investors on 25 June, the non-banking financial company said on Thursday.

time-read
1 min  |
June 20, 2025
India Inc.'s $2 tn EV to AI opportunity
Mint Mumbai

India Inc.'s $2 tn EV to AI opportunity

Indian companies could emerge as major players in shaping the global economy over the next decade, with 18 high-potential sectors poised to generate $1.7-2 trillion in revenue by 2030, up from $690 billion in 2023, according to a new report by McKinsey and Co.

time-read
1 min  |
June 20, 2025

Wir verwenden Cookies, um unsere Dienste bereitzustellen und zu verbessern. Durch die Nutzung unserer Website stimmen Sie zu, dass die Cookies gesetzt werden. Learn more