7201.T - Nissan Motor Co., Ltd.

Tokyo - Tokyo Delayed Price. Currency in JPY
764.60
+14.10 (+1.88%)
At close: 3:15PM JST
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Previous Close750.50
Open750.00
Bid764.60 x 0
Ask765.10 x 0
Day's Range748.20 - 766.70
52 Week Range722.00 - 1,108.50
Volume8,405,600
Avg. Volume12,573,729
Market Cap2.992T
Beta (3Y Monthly)N/A
PE Ratio (TTM)4.00
EPS (TTM)N/A
Earnings DateJul 25, 2019
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est1,065.60
  • Carlos Ghosn sues Nissan-Mitsubishi in the Netherlands - paper
    Reutersyesterday

    Carlos Ghosn sues Nissan-Mitsubishi in the Netherlands - paper

    Carlos Ghosn has launched a court case in the Netherlands against Japanese carmakers Nissan Motor and Mitsubishi Motors , who ousted him as chairman of their alliance last year on charges of embezzlement, Dutch newspaper NRC reported on Saturday. Ghosn is seeking 15 million euros (13.43 million pounds) in damages from the carmakers, as grave mistakes were made when he was sacked, NRC reported, citing his lawyer. "In the Netherlands, if you want to fire an executive you have to first tell him what he's being accused of, and you have to provide him with the evidence for the accusations.

  • Renault's Senard expects Nissan's new board to embrace alliance
    Reuters3 days ago

    Renault's Senard expects Nissan's new board to embrace alliance

    Renault is confident that alliance partner Nissan's new board will work to reinforce their partnership as it struggles to turn the page on the Carlos Ghosn scandal, Renault Chairman Jean-Dominique Senard said on Thursday. Nissan shareholders last month approved the appointment of a new board at the Japanese carmaker with a more international profile as well as Senard and his Renault Chief Executive Thierry Bollore. "There is a change," Senard told reporters in a briefing at Renault headquarters.

  • Renault-Nissan alliance is priority for France ahead of any consolidation - Le Maire
    Reuters4 days ago

    Renault-Nissan alliance is priority for France ahead of any consolidation - Le Maire

    Renault's alliance with Japanese partner Nissan remains the priority for France ahead of any further consolidation such as a merger with Fiat-Chrysler , French Finance Minister Bruno Le Maire said on Wednesday. "The priority today is to develop an industrial strategy for the Renault-Nissan alliance, Le Maire said in an interview with Italian daily Corriere della Sera.

  • Renault-Nissan audit findings submitted to French prosecutors
    Reuters9 days ago

    Renault-Nissan audit findings submitted to French prosecutors

    Renault has handed French prosecutors the conclusions of an audit into its joint finances with alliance partner Nissan , the carmaker said on Friday. The audit, carried out by accountancy firm Mazars in the wake of the Carlos Ghosn scandal, identified 11 million euros (£10 million) in questionable spending by the Dutch-registered alliance subsidiary Renault-Nissan BV, Renault said in April. Former chairman Ghosn, ousted by both carmakers following his November arrest in Tokyo, is awaiting trial on financial misconduct charges he denies.

  • Renault-Nissan unsure whether will publish cost-saving figures - sources
    Reuters16 days ago

    Renault-Nissan unsure whether will publish cost-saving figures - sources

    Renault-Nissan has not decided whether to publish figures on cost savings and other synergies achieved by the alliance over the last year, as has been its custom, two sources close to Renault said, amid growing tension in the partnership. Over the past decade, the group has released figures each summer detailing how much money has been saved through cost-cutting, production sharing and other efficiencies, establishing it as a barometer of the health of the 20-year-old alliance.

  • Formula E New York: Everything to Know, From the Cars to Nearby Bars
    Bloomberg20 days ago

    Formula E New York: Everything to Know, From the Cars to Nearby Bars

    (Bloomberg) -- If you want to know what your car might be like in 2030, and which brands—automotive or otherwise—may be the ones to make it, go watch a Formula E race.The single-seater racing series, now in its fifth season, is like Formula 1—with open-cockpit cars powered by electricity, rather than gas. The next E-Prix will take place on July 13 and 14 in Red Hook in Brooklyn, N.Y. It’s the site of the final two races of the season and the only one this year set in U.S. shores.And it’s a big deal. Audi, BWM, Mercedes-Benz, Mahindra, NIO, Nissan, Virgin, Jaguar, and Porsche are all multimillions-of-dollars-deep into developing their involvement; Nico Rosberg, Qualcomm, and Discovery are investors. They see the racing series as a critical testing ground for technologies on tap for the transportation devices of the future. And such brands as Hugo Boss, Bremont, and Tag Heuer, among others, are hosting parties, conferences, and drive events for press and VIPs throughout the week preceding the races; Harley Davidson is using it as an opportunity to unveil its first-ever electric motorcycle, Project Livewire, to selected media for first-ride reviews.Indeed, Formula E is a celebration of the future of electric autos. It provides stark relief between those companies that can make a viable electric motor and those that can’t. Whereas F1 technologies are so proprietary and secretive that fans need they need a university degree to wade through the distinctions, Formula E teams use the same battery with the same amount of energy; the team that designs the most efficient motor is very likely to win. (That’s with no small effort from one of the welterweight-fit race car drivers, of course.)The stakes are high, if still speculative. Today, battery-powered vehicles account for 1.2% of automotive sales worldwide, but by 2025 their number is expected jump to nearly 11 million vehicles sold, 10 times what it is today. The key for automakers in the meantime is to convince consumers that electric cars are reliable and durable enough to withstand daily, crushing, enthusiastic, and even monotonous use.Tickets to the 2019 New York City E-Prix can be had cheap, at $12. Without the ear-drum-blowing, dangerous decibels of a F1 race, the races presents a family-friendly opportunity to see at thrilling proximity how an emerging sport is gathering speed. (No pun intended.)Plus, while you’re there, you can explore one of New York’s most exciting, fast-developing neighborhoods. (Plus the largest Ikea, complete with Swedish meatballs, you’ve probably ever seen.) Here are our best recommendations for where to eat, drink, and watch during the Formula E races, and even sleep the night before. Where to EatHometown Bar B QueSouthern-style brisket, pork, lamb, and turkey, pit-smoked to pair with traditional sides and craft beers. 454 Van Brunt St.Fort DefianceNeighborhood farm-to-table cooking includes summer squash risotto, Berkshire pork chop, and pan-roasted branzino. Fort Defiance has a full cocktail and oyster bar as well.  365 Van Brunt St.Steve’s Authentic Key Lime PiePies and tarts made by hand from fresh-squeezed lime juice for more than 30 years. The citrus-averse will find a few chocolate concoctions there, too. 185 Van Dyke St.Pizza MotoBrick-oven New York-style pizza, from classics such as Margherita and Pepperoni to Jerzy Pork Store and Vermonter. 338 Hamilton Ave.Grindhaus Local eclectic fare such as Southern-rub roasted chicken, chilled pea soup, and twice-fried chicken wings, plus a full bar. 275 Van Brunt St.Red Hook Lobster PoundSourcing live Maine lobster for six different types of lobster rolls, plus fish ’n’ chips, hot crab dip, and a succulent shareable lobster for two, among other crowd favorites. 284 Van Brunt St. Where to Sleep1 Hotel BrooklynSet on Pier 1 of Brooklyn Bridge Park, with stunning views of the Manhattan skyline, a full restaurant, and multiple bars. The rooms incorporate reclaimed woods, industrial steel, and custom organic-cotton elements by Keetsa. 60 Furman St., Brooklyn HeightsThe William ValeAt Williamsburg’s newest hotel, with a stunning roof deck and pool, sunset drinks are a must. All of the slick, minimal rooms have floor-to-ceiling windows and deck balconies. The ground floor Southern Italian-style restaurant is operated by chef Andrew Carmellini of the Dutch, Locanda Verde, and Bar Primi. 111 N. 12th St., WilliamsburgThe Ludlow HotelAn option in Manhattan’s Lower East Side that’s close enough to be accessible to Red Hook while you keep a foot in the center of it all. Slightly more undercover than its Bowery Hotel sister property, with studios, terraces, lofts, and a penthouse on offer. Its restaurant, Dirty French, is a perpetual scene. 180 Ludlow St., Manhattan Where to DrinkDive BarsSunny’s Red HookDefinitive Brooklyn dive; you’ll know it by the old truck parked out front. 253 Conover St.Brooklyn Ice HouseCasual, outdoor seating with simple burgers to match the PBR and onion rings. 318 Van Brunt St.Van Brunt Still HouseA small-batch distillery with a roughed-up, cool tasting room and selections such as spicy rye whiskey, smoky corn whiskey, and smooth wheated bourbon. 6 Bay St.Cocktails With a ViewThe William ValeHead to the rooftop for Instagram-worthy cocktails at sunset. 111 N. 12th St., Williamsburg1 Hotel BrooklynThe best hotel views of Manhattan while closest to the race course. 60 Furman St., Brooklyn HeightsBrooklyn CrabAround the corner from Sunny’s. If you stretch, you can see the Statue of Liberty from the roof deck—and play lawn games, while you’re at it. 24 Reed St.Ceconis x Dumbo HouseSoho House’s Brooklyn location offers Old-Fashioned cocktails and water views on the East River. 55 Water St.  Formula E Rules to KnowFormula E is like Formula One but with cars powered by electric batteries, rather than conventional engines. This season, 22 drivers from 11 teams are racing to win the top spot by the end of the series, which has taken them to such locales as  Santiago, Hong Kong, Paris, Monaco, Rome, and Marrakesh, Morocco.The official ABB FIA Formula E Championship includes two separate titles, one for the winning driver and one for the winning team. The driver championship goes to whoever earns the most points over the eight-month season. The team championship goes to the team with the highest combined scores of its two drivers over the season. This season, Frenchman Jean-Éric Vergne is currently in first place among the drivers, and China’s DS Techeetah leads the team rankings.Drivers earn points by finishing well in each race, with 25 points awarded to the race winner, 18 points to the runner-up, 15 points for a third-place finish, and so forth. Tenth place earns one point, after which no points are awarded. The driver who is at pole position earns an additional three points, while the driver who sets the fastest lap and finishes in the top 10 gets an additional one.The drivers have two ways to get more power for their cars during a race—and these launch it squarely into live-action video game territory, unlike the analog Formula One. The first one is called Attack Mode. To do this, drivers leave the racing line and drive through a slower lane in the “activation zone.” If they do this, they get an extra 25 kW of power unlocked on the powertrain, which they can use to help them speed through the next few laps. Or they can win the “Fan Boost” power surge, which is determined by fan voting. This awards the driver a 25 kW power boost during a five-second window in the second half of a race. Fans can vote for favorite drivers online or live on Twitter by using the hashtag of the name of their chosen driver along with FANBOOST.It is forbidden to use more than four new rear and four new front tires during each racing weekend, from shakedown through the end of the race. If for some reason, a team burns through its allotted supply of tires, it’s out of the race. All teams must use special, bespoke, 18-inch, all-weather Michelin tires.No charging of any car is allowed during qualifying rounds and the E-Prix, but teams can charge their cars between sessions and during practice. Cars are charged on generators powered by glycerine, a zero-emission bio-diesel byproduct; it takes one hour to fully charge. Only one car is used per driver per race.    The Race ScheduleFridays are typically for shakedowns, when drivers and teams get to know the track and evaluate the technology and mechanics of their cars.Each race weekend involves practice sessions—one 45 minutes long and one 30 minutes long—on the first track day, as well as one on the second track day. The time keepers are engaged during the practice sessions, but the results don’t count toward final standings.Qualifying rounds happen before each day’s main events on Saturday and Sunday. They determine the order in which each driver will start the race. They’re run in groups of up to six cars, so there’s a little more room to maneuver on the track. Each group posts its fastest lap, and the fastest six times go on to compete in a “super pole” shootout wherein drivers compete one-by-one for pole position. The driver with the fastest qualifying time gets the first-place start, and the driver with the slowest time starts at the back. Qualifying sessions last one hour.The race itself is called the “E-Prix.” It lasts 45 minutes, plus one lap. Once the leader has crossed the finish line after 45 minutes of racing, everyone does one more lap before the race is officially over. The CarThis season will see new cars racing around 12 cities. (Previous model cars are now on sale to collectors.) The 2019 car has a battery with capacity nearly double that of its predecessor; it will debut in New York with 250 kW of power (equal to 335 bhp) and can accelerate from zero to 62 mph in 2.8 seconds. Top speed is 280 kilometers per hour (174 mph).The minimum weight of the car and driver together is 900 kilograms (1,984 pounds). (The battery alone weighs 385 kg, or 849 pounds.) Each car is 5,160 millimeters long and 1,770 mm wide, or about 17 feet long and nearly six feet wide.The halo ring around the top of the cockpit on the new cars is there for protection in the event of a crash. It also has an LED strip that flashes blue, when the driver is in Attack Mode, and magenta, when a driver is using Fanboost.  The CourseThe 1.5-mile track runs along the historic Brooklyn Cruise Terminal, deep in Brooklyn’s Red Hook section. Because of its 14 corners, it is considered the toughest in the series for all 22 cars and drivers. There will be grandstands, paddocks, entertainment areas, and VIP lounges for ticket holders and attendees.The CrashesInevitably, cars will collide. Usually, the impact isn’t severe; as the old saying goes, if you’re not rubbing, you’re not racing. But when bad collisions happen, the halo ring that sits above the cockpit will protects drivers from the force of 14 cars stacked on top of their vehicle. Here is a compilation of the most dramatic crashes of the season so far.  Drivers to WatchJean-Éric VergneThe Frenchman won last year’s championship, clinching the title after the New York E-Prix in 2018. Vergne competed in Formula One for Scuderia Toro Rosso from 2012 to 2014 and was a Ferrari test and development driver from 2015 to 2016. In the standings this year driving for Techeetah, he is currently in first place.Lucas Di Grassi The Brazilian racer drives for Audi’s Formula E team. He won the Formula E championship title in the 2016/2017 season; this year he’s currently in second place.Mitch Evans The Kiwi won his first-ever Formula E race in Rome this year, driving for Panasonic Jaguar Racing. He’s currently in third place.André LottererThe German racer is the second driver for Techeetah, currently in fourth place and helping boost the team to an all-around top post so far in the series. He is famous for his three wins at the 24 Hours of Le Mans, driving for Audi, and for winning the World Endurance championship in 2012.  Teams to WatchDS TecheetahThe Chinese motor racing team is currently leading the team standings under team principal Mark Preston. Its two drivers hold the first and fourth positions going into July’s races.Audi Sport ABT Schaeffler  Germany’s Audi Sport ABT Schaeffler was one of the founding members of the Formula E racing series. The team principal is Allan McNish, who has led the team to its current second-place standing.Envision Virgin Racing  The British racing team is majority-owned by Envision Energy, with Sylvain Filippi as principal. A founding member of the Formula E series, it currently sits in third place in the overall standings.BMW i Andretti MotorsportAt No. 6, BMW i Andretti racing is the top-ranked team with a U.S. affiliation. It sits in the Andretti Autosport conglomerate owned and operated by former driving champion Michael Andretti.   How to Get ThereBy Shuttle — Free shuttles to the track leave from Carroll Gardens and from the Atlantic Terminal near Barclays Center every half hour.By Subway — The Carroll Street Station stop on the F Line is a 15-minute walk to the track.By Car — Street parking will be a challenge, so plan to park in an outdoor lot, pay with cash, and walk to the event. Better yet, go by taxi or car service.By Citi Bike — You can pick them up all over Brooklyn and in Manhattan’s Lower East Side. If you get one in Manhattan, ride over the Brooklyn Bridge for beautiful views. Allow an hour or so for the ride, but remember to dock the bike/re-check it out every 30 minutes, or risk a fee.  Don’t Forget to BringTickets — Prices start at $12 and reach $390 for two-day lounge passes.Sunscreen — There will be indoor lounges and covered areas and seating, but the grandstand seats lie under direct sunlight. Plan ahead to protect your skin.Ear Plugs — Formula E has nowhere near the sound level of Formula 1, which can reach 140 decibels during a race. But at a top level of 80 decibels, Formula E still merits some ear protection.To contact the author of this story: Hannah Elliott in New York at helliott8@bloomberg.netTo contact the editor responsible for this story: Justin Ocean at jocean1@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Ghosn's wife steps up call for G20 leaders to help her husband
    Reuters22 days ago

    Ghosn's wife steps up call for G20 leaders to help her husband

    The wife of ousted Nissan Chairman Carlos Ghosn has again called on world leaders, who have gathered in Japan for a G20 summit, to help raise the issue of her husband's treatment in the country where he is facing financial misconduct charges. Ghosn, who holds French, Lebanese and Brazilian citizenship, has denied the charges and says he is the victim of a boardroom coup at Nissan Motor . Carole called on leaders including U.S. President Donald Trump and French President Emmanuel Macron to hold Japanese Prime Minister Shinzo Abe accountable for what she has repeatedly called the country's "hostage justice system".

  • Nissan ex-chief Ghosn cancels hastily arranged Tokyo press conference
    Reuters23 days ago

    Nissan ex-chief Ghosn cancels hastily arranged Tokyo press conference

    Former Nissan boss Carlos Ghosn abruptly cancelled plans on Friday for what would have been his first press conference since his arrest in November, after his daughters expressed concern it could invite retaliation by Japanese authorities, his lawyers said. "In Japan we just don't know what terrible thing will happen next, not just limited to rearrest," one of his lawyers, Junichiro Hironaka, told reporters outside his office. The Japanese government's chief spokesman Yoshihide Suga has said that Ghosn is being treated in accordance with Japanese law.

  • Exclusive: Nissan, Dongfeng in talks to form fleet-management venture with Didi - sources
    Reuters24 days ago

    Exclusive: Nissan, Dongfeng in talks to form fleet-management venture with Didi - sources

    Nissan Motor Co and its China partner Dongfeng Group are in talks with Didi Chuxing to launch a joint venture to manage car fleets for Didi's ride-hailing and car-sharing services, five people familiar with the discussions told Reuters. A partnership would help the Japanese automaker meet China's production quotas for electric vehicles and plug-in hybrids, and would be similar to a venture that Volkswagen AG set up with Didi last year.

  • Nissan's Saikawa gets lowest approval among directors endorsed at AGM - filing
    Reuters24 days ago

    Nissan's Saikawa gets lowest approval among directors endorsed at AGM - filing

    Nissan Motor Co Chief Executive Hiroto Saikawa had the lowest approval among the 11 directors endorsed by shareholders at its annual general meeting (AGM) this week, gaining only 78% of the votes, a filing showed on Thursday. The low approval comes in the wake of a rare public rebuke for Saikawa from international proxy firms. International Shareholder Services and Glass Lewis earlier this month had urged shareholders to vote against him, citing the need to break with the scandal-plagued era of his former boss, Carlos Ghosn.

  • France's Macron says no need to lower government's stake in Renault
    Reuters24 days ago

    France's Macron says no need to lower government's stake in Renault

    French President Emmanuel Macron said on Thursday there was no need for the government to lower its stake in Renault and that he wanted the Renault-Nissan alliance to work on strengthening its synergies. Relations have been strained between the alliance members since the shock arrest in November of former boss Carlos Ghosn, but Macron referred to that as an individual situation that should not have a bearing on their partnership. "Nothing in this situation justifies changing the cross shareholdings, the rules of governance, and the state's shareholding in Renault, which has nothing to do with Nissan," Macron told reporters.

  • Bloomberg25 days ago

    Carlos Ghosn’s Wife Has a Message for the G-20

    (Bloomberg Opinion) -- “In April and May of last year, there had been so much tension over the merger,” said Carole Ghosn, wife of the indicted former auto magnate Carlos Ghosn, who had been pushing Renault and Nissan to merge. “The Japanese were even approaching French government officials. And then in June, it stopped. We know now that it’s because the Japanese had figured out Plan B.”“What was Plan B?” I asked.“To take Carlos down,” she said.This coming weekend, the Group of 20 summit will take place in Japan for the first time. The Japanese are hoping that hosting the leaders of the world’s most powerful economies will reflect well on the country and its place in the world. As the Japanese government put it on its G-20 website:The G20 Summit is a perfect opportunity for people from all over the world to see and experience not only a newly revitalized and transforming Japan … but also the wide-ranging appeal of the various regions that will host these consequential discussions.No one doubts that Japan is a thoroughly modern country. It has a democratic system of government, a vibrant culture and some of the best-known corporations in the world. But Carlos Ghosn’s allies — starting with his wife Carole — are taking the occasion to argue that Japan has a darker side: a nationalism so instinctive and so powerful that it would rather frame an innocent man than see one of its marquee companies bought by Westerners.Ghosn, once the chief executive of France’s Renault SA and chairman of Japan’s Nissan Motor Co. Ltd. — and the architect of the long-running alliance between the two companies — was arrested last November as he stepped off an airplane in Tokyo. He was tossed into a jail cell where the lights were always on, and the temperature was always frigid — and interrogated for six to eight hours at a stretch, as prosecutors tried to force a confession.He spent more than 130 days under those difficult conditions; in Japan, some people call this “hostage justice,” because its purpose is to hold the accused until he cracks. Ghosn, however, did not crack. He is now out of jail, though essentially under house arrest, charged with four counts of financial improprieties. He spends his days preparing for a trial that will likely take place next year.Ghosn’s indictment notwithstanding, his allies — the few who haven’t abandoned him — maintain another theory about his arrest: that it was a plot to block the Renault-Nissan merger. As the months have passed, this theory has gained credence.The Wall Street Journal reported, for instance, that Hiroto Saikawa, Nissan’s current CEO, admitted to a group of Renault executives that two of his underlings had secretly investigated Ghosn in order to derail any possibility of a merger. It also seems increasingly clear that the Japanese government played a behind-the-scenes role.“Nissan has accused Carlos of hiding income,” said Carole Ghosn, with a look of frustration, “but nothing had been signed or approved.” Nissan also accused Ghosn of using company funds to buy a series of homes. “All those houses were approved by the company,” she insisted. Making the case for her husband’s innocence is a large part of the reason she gives interviews.We met at a breakfast place on Manhattan’s East Side. She is a petite woman in her early 50s; her eyes betray a deep sadness. When Ghosn was first released from prison in early March, she spent a month with him in Tokyo before he was rearrested and returned to prison for another 23 days. When he was again released on bail at the end of April, one condition was that he could not see or speak with his wife.Carole Ghosn herself has been questioned by Japanese prosecutors, and her name has been bandied about in the Japanese press as a possible co-conspirator. She told me that after her husband’s second arrest, she wasn’t allowed to go anywhere in the house alone — not even the bathroom. “They just wanted to humiliate me,” she said.Ghosn talks to almost nobody except his lawyers. His Japanese friends have turned their backs on him, with the exception of his former housekeeper, who brings food and checks in with him every few days.People who have seen him are shocked by his appearance. He has lost a lot of weight — but far more alarming, he has lost much of the energy that used to mark him. He can concentrate only for short stretches, and he has frequent memory lapses. Ms. Ghosn attributes this to his treatment in prison. “It breaks my heart to see him like this,” she said, tears welling in her eyes.As the G-20 meeting approaches, Carole Ghosn and the Ghosn media team are publicly emphasizing that civilized countries don’t use their criminal justice system to keep companies from falling into foreign hands.In a recent article in Japan Today, Takashi Takano, one of Ghosn’s lawyers, described Ghosn’s case as “the return of Japan Inc” — an era when the government and Japanese companies worked together to lock foreigners out.If Nissan had legitimate concerns about Ghosn, the company should have come to him and demanded an explanation. Only if his answers were unsatisfactory should prosecutors have been called in. Instead, Ghosn’s surprise arrest became Nissan’s excuse to remove him as chairman. Renault held out for a while but eventually had to replace him as well, because it needed a functioning CEO. Even if Ghosn is found innocent after a trial, his career is over.There is a second issue: Japan’s “hostage justice” system, its use of relentless interrogation and rough prison conditions to extract confessions. Many people have been stunned to discover that the Japanese judicial system is closer to that of Russia and China than to the U.S. and Britain in that it has less to do with establishing guilt or innocence than extracting confessions.“This case has shed light on the system,” Ms. Ghosn said. “Executives from the west are going to think twice about working in Japan.”Our conversation was coming to a close. As I began to put away my notebook, there was one more thing she wanted to say: “I just want my husband back.”To contact the author of this story: Joe Nocera at jnocera3@bloomberg.netTo contact the editor responsible for this story: Mary Duenwald at mduenwald@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Joe Nocera is a Bloomberg Opinion columnist covering business. He has written business columns for Esquire, GQ and the New York Times, and is the former editorial director of Fortune. His latest project is the Bloomberg-Wondery podcast "The Shrink Next Door."For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Japan watchdog to recommend £29.4 million fine for Nissan over Ghosn pay - source
    Reuters25 days ago

    Japan watchdog to recommend £29.4 million fine for Nissan over Ghosn pay - source

    Japan's markets watchdog will likely recommend that the financial regulator fine Nissan Motor Co up to 4 billion yen (29.4 million pounds) over the alleged underreporting of former Chairman Carlos Ghosn's compensation, a source said. The Securities and Exchange Surveillance Commission (SESC) will likely recommend the fine on the basis that Ghosn's alleged underreported salary had a "significant" impact on investor decisions regarding the company, the source said, declining to be identified. A spokesman for the SESC declined to comment on specific cases, while Nissan was not immediately available for comment.

  • Macron calls for 'synergies, alliances' to strengthen Renault-Nissan
    Reuters25 days ago

    Macron calls for 'synergies, alliances' to strengthen Renault-Nissan

    French President Emmanuel Macron on Wednesday called for further synergies and alliances to strengthen the Renault-Nissan partnership in a global market. "The Renault-Nissan alliance is a jewel in the industry," Macron told French expatriates in Tokyo.

  • Nissan Tells Rowdy Shareholders It Will Mend Renault Alliance
    Bloomberg26 days ago

    Nissan Tells Rowdy Shareholders It Will Mend Renault Alliance

    (Bloomberg) -- Nissan Motor Co. pledged to put more focus on mending its troubled two-decade alliance with Renault SA as the Japanese carmaker’s boisterous shareholders voted to give the French partner more say over its future.At Nissan’s rowdy annual meeting in Yokohama, bickering shareholders approved a governance structure designed to boost oversight and prevent the concentration of corporate power in one individual, seeking to address the lapses that led to the arrest of former chairman Carlos Ghosn. Renault, which owns 43% of Nissan, got a bigger representation in key board committees.Chief Executive Officer Hiroto Saikawa, who got his position reaffirmed though he hinted at a potential exit in the future, emphasized the Renault alliance’s value and signaled that Nissan will speed up talks to strengthen it. That’s a change of stance from the past few months, when Nissan insisted that getting its own internal business in order was a top priority.“Postponing the talks could result in speculation and undermine the alliance’s day-to-day operations and affect Nissan’s recovery efforts,” Saikawa said. “It is critical to create opportunities with Renault to discuss our future relationship while we continue to improve our performance.”The annual meeting was marked by shareholders shouting at executives and at each other, as has become the norm for Nissan in recent years. When an ex-Nissan employee used his turn to speak to praise Ghosn for saving Nissan from bankruptcy, another shareholder told him to shut up.Some also criticized Renault and its chairman, Jean-Dominique Senard, who was present at the meeting, accusing him of trying to assert control over Nissan.Ghosn’s arrest late last year fractured the carmakers’ partnership, and Nissan’s failure to support a proposed merger between Renault and Fiat Chrysler Automobiles NV this month put more strain on the pact. Saikawa reiterated that he isn’t in favor of a merger between Nissan and Renault, and said an “imbalance” in the companies’ cross-shareholdings needs to be addressed -- Nissan only owns 15% of its French partner.“Having an alliance definitely increases our competitiveness, and the challenge is how to define the alliance,” said Saikawa, who was criticized by some shareholders for his handling of Nissan since Ghosn’s arrest. Some in the crowd called for his resignation.Senard appeared frustrated as he tried to convince the audience he was devoted to rebuilding trust. He said he did everything he could to restore the relationships in an alliance that he found in much worse condition than he anticipated when he took over earlier this year.Shareholders approved creating three board committees: nomination, audit and compensation. Renault CEO Thierry Bollore will be on the audit committee and Senard on the nomination committee -- key positions at the heart of decision-making. The nomination committee will be overseen by Masakazu Toyoda, the lead, independent outside director.A majority of the new board isn’t affiliated with Nissan, with new directors including the chairman of Nihon Michelin Tire Co. and the former head of Sony Interactive Entertainment. Yasushi Kimura, an adviser to oil company JXTG Holdings Inc., will be chairman and Senard will be vice chairman. Outgoing directors include Nissan veteran Toshiyuki Shiga, who once was Ghosn’s right-hand man.With fewer Nissan insiders, the new board potentially could take a more benign view on any attempt by Renault to resume deal talks with Fiat. The European carmakers’ talks ended in early June after a last-minute intervention by the French government, which suggested the deal was being rushed and that more time was needed to gain Nissan’s approval.Senard told Nissan shareholders that a deal between Fiat and Renault also would have benefited the Japanese company. There was “no aggression against Nissan,” he said.Saikawa, Ghosn’s protege-turned-accuser, held on to his job thanks to Renault’s support. He faced shareholder criticism for not reacting to Ghosn’s alleged wrongdoing early on, with some saying he should step down.The 65-year-old CEO said he isn’t in a position to say when a successor will be named for him, but he wants the nomination committee to speed up a search for one.\--With assistance from Kae Inoue.To contact the reporters on this story: Ma Jie in Tokyo at jma124@bloomberg.net;Grace Huang in Tokyo at xhuang66@bloomberg.netTo contact the editors responsible for this story: Young-Sam Cho at ycho2@bloomberg.net, Ville Heiskanen, Ken McCallumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • With job intact, Nissan's CEO pins Renault alliance on mutual respect, flags inequality risk
    Reuters26 days ago

    With job intact, Nissan's CEO pins Renault alliance on mutual respect, flags inequality risk

    Nissan Motor Co Ltd on Tuesday threw cold water on hopes for a quick fix to strained relations with France's Renault SA, saying inequality between the partners could unravel their two-decade-old automaking alliance. Speaking at Nissan's annual general meeting in Yokohama, Chief Executive Hiroto Saikawa said he wanted to preserve the spirit of equality - in an alliance whose shareholding structure Nissan has long seen as lopsided. During a three-hour affair peppered with heckling, shareholders returned Saikawa to the automaker's board as widely expected and in defiance of opposition from proxy advisors.

  • What to Watch for at Nissan Post-Ghosn Annual Meeting
    Bloomberg26 days ago

    What to Watch for at Nissan Post-Ghosn Annual Meeting

    (Bloomberg) -- Nissan Motor Co. shareholders will vote in a new board and director committees Tuesday, decisions that will shape the company’s troubled relationship with Renault SA and impact whether the French company revives its deal with Fiat Chrysler Automobiles NV.The Japanese carmaker’s proposed new governance structure is designed to boost oversight and prevent the concentration of corporate power in one individual, seeking to address the lapses that led to the arrest of former chairman Carlos Ghosn for financial crimes while at the company.Ghosn’s downfall triggered tumult at Nissan. The company reported its lowest profit in a decade last month and has lost a quarter of its market value. Ties with its ally of more than two decades have been strained after Nissan kept the investigation into Ghosn from Renault until his arrest. The alliance has been further tested by Nissan’s reluctance to support a merger between the French company and Fiat.Here are the key points to watch out for at Tuesday’s annual shareholders’ meeting:Committee Musical ChairsThe central task for the meeting, being held at a hotel in Yokohama, is to approve the creation of three board committees: nomination, audit and compensation. The structure is based on recommendations made in March by a governance panel empowered by Nissan to put forth board changes.The proposal was thrown into doubt this month, when Renault Chairman Jean-Dominique Senard threatened to withhold support for the reforms unless Renault secured more representation within the committees. Renault’s 43% stake in Nissan gives it a lot of say because decisions such as board appointments require a simple majority to pass.Nissan acquiesced and agreed to give Renault more seats, offering Renault Chief Executive Officer Thierry Bollore a place on the audit committee and Senard a position on the nomination committee -- key positions at the heart of decision making. The nomination committee will be chaired by Masakazu Toyoda, the lead independent outside director.New Faces on the BoardShareholders will also decide on the new board lineup. In line with the panel’s recommendation, a majority of the nominees are not affiliated with Nissan, including the former head of Sony Interactive Entertainment and the chairman of Nihon Michelin Tire Co.Yasushi Kimura, an adviser to oil company JXTG Holdings Inc., will chair the board and Senard will become the vice-chair. Outgoing directors include Nissan veteran Toshiyuki Shiga, who was once Ghosn’s right-hand man.A board with fewer Nissan insiders could potentially take a more benign view on any attempt by Renault to resume deal talks with Fiat. The European carmakers’ talks ended in early June after a last-minute intervention by the French government, which suggested the deal was being rushed and that more time was needed to gain Nissan’s approval.CEO Saikawa’s FutureNissan CEO Hiroto Saikawa, Ghosn’s protege-turned-accuser, will face criticism and scrutiny by the board and shareholders, yet he’s likely to hold on to his job thanks to Renault’s support. Under an alliance agreement revised in 2015, Renault is obliged to stand by Nissan in management decisions, including board nominations.Saikawa has had to face questions about why he didn’t spot Ghosn’s alleged wrongdoing early on, and in April stockholders asked why he wasn’t stepping down to take responsibility for Nissan’s poor governance. On Monday, Saikawa was due to be questioned by the board about allegations by a former senior executive that he broke company rules to pay for a house in Tokyo.The Nissan governance panel decided to recommend that Saikawa stay on mainly because the company needs a certain level of management consistency, according to Keiko Ihara, an external Nissan board director and a member of the panel. Saikawa has also agreed to cut his compensation by half to take responsibility for the Ghosn scandal.(Corrects the amount of votes needed for decisions in sixth paragraph.)To contact the reporter on this story: Ma Jie in Tokyo at jma124@bloomberg.netTo contact the editors responsible for this story: Young-Sam Cho at ycho2@bloomberg.net, Reed Stevenson, Ville HeiskanenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Car trash to cash: U.S. firm aims to power European stadiums with old car batteries
    Reuters27 days ago

    Car trash to cash: U.S. firm aims to power European stadiums with old car batteries

    U.S. industrial conglomerate Eaton, which uses second-hand Nissan electric vehicle batteries to power buildings, is in talks with up to six European football stadiums to help power their facilities, according to a senior executive. Eaton, a New York-listed firm that makes hydraulics, truck transmissions and other industrial products, says the market is niche but expects it to grow up to 20 times between now and 2022. In Europe, Middle East, and Africa, Eaton estimates the potential market value to be $2.3 billion by 2025.

  • Nissan shareholders set to back CEO Saikawa amid fraying ties with Renault
    Reuters27 days ago

    Nissan shareholders set to back CEO Saikawa amid fraying ties with Renault

    Nissan Motor shareholders are widely expected to back Chief Executive Hiroto Saikawa at an annual general meeting on Tuesday, extending his tumultuous tenure at an automaker shaken by scandal and the loss of trust with alliance partner Renault. Japan's second-largest carmaker on Tuesday will hold its first annual shareholders meeting since the ouster of former Chairman Carlos Ghosn last year, and just days after Saikawa resolved a highly publicised tussle with top shareholder Renault over Nissan's corporate governance reforms. The partnership hit a new low this month when Renault demanded that its chairman and chief executive be appointed to newly formed governance committees at Nissan.

  • French fiscal administration launches probe over Ghosn's wealth - Liberation
    Reuters28 days ago

    French fiscal administration launches probe over Ghosn's wealth - Liberation

    The French fiscal administration has launched an in-depth probe into the wealth of former Renault-Nissan Chairman Carlos Ghosn, French daily Liberation reported on Sunday, citing sources. Ghosn, who holds French, Lebanese and Brazilian citizenship, is facing financial misconduct charges, which he denies. Suspect expenses Ghosn made when he chaired carmakers Renault and Nissan amounted to about 11 million euros, Renault's board said in a statement on June 4.

  • Waymo Just Partnered With Renault and Nissan to Research Driverless Mobility Services
    Motley Fool29 days ago

    Waymo Just Partnered With Renault and Nissan to Research Driverless Mobility Services

    Waymo's latest move is a first step toward releasing its driverless-vehicle tech abroad.