Honda, Nissan to unveil detailed merger plan in mid-Feb.
Honda Motor Co and Nissan Motor Co, have agreed to begin talks on merging under a holding company. - Astro AWANI
TOKYO: Honda Motor Co and Nissan Motor Co are expected to unveil the details of their merger plan in mid-February, Kyodo News reported on Friday, citing company officials.
Japan's second- and third-largest carmakers by volume, which have agreed to begin talks on merging under a holding company in 2026, previously said they would provide merger details by the end of January.
Honda has been urging struggling Nissan to strengthen restructuring efforts, according to people close to the matter.
In November, Nissan said it will cut 9,000 jobs worldwide and reduce its global production capacity by 20 per cent as it reported a more than 90 per cent drop in net profit in the April-September period.
Mitsubishi Motors Corp, a partner of Nissan, has been considering joining the merger but is now leaning toward going it alone, according to other sources.
--BERNAMA-KYODO
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