Toyota to the rescue? Nissan's future in takeover talks
Nissan's future does not look rosy. After breaking down talks with Honda in February, the brand found itself against the wall. Local media suggest that rescue might come from Toyota.
On May 17, the Japanese daily "Mainichi" reported on discussions being held between Nissan and Toyota. According to Japanese media, Toyota's executive director contacted Nissan representatives as early as February, immediately after the failure of the agreement with Honda.
"Mainichi" does not reveal its sources, and representatives of Nissan and Toyota remain silent on the matter. However, if the reports are confirmed, hardly anyone will be surprised. Toyota has a rich history of acquiring minority stakes in other Japanese brands such as Subaru, Suzuki, and Isuzu.
Nissan undoubtedly needs support. On April 1, the company appointed a new head - Ivan Espinosa replaced Makoto Uchida. The new president quickly sprang into action, announcing an aggressive restructuring program, which includes laying off nearly 22,000 people.
However, he emphasized that he would not rush into hasty partnerships. Reviving Nissan from within is the highest priority, he added. On the topic of potential mergers, he explained that he is interested in the right partner, not just any partner.
Espinosa said Nissan foresees many cooperation possibilities, including a rapprochement with Honda. Others might involve integration, capital investments, or spin-offs of business units, according to Espinosa.
