NSANY - NiSan Motor Co., Ltd.

Other OTC - Other OTC Delayed Price. Currency in USD
13.14
-0.09 (-0.72%)
At close: 3:57PM EDT
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Previous Close13.23
Open13.19
Bid0.00 x 0
Ask0.00 x 0
Day's Range13.14 - 13.25
52 Week Range12.00 - 19.68
Volume41,619
Avg. Volume115,776
Market Cap25.651B
Beta (3Y Monthly)0.74
PE Ratio (TTM)3.95
EPS (TTM)3.33
Earnings DateN/A
Forward Dividend & Yield1.03 (7.80%)
Ex-Dividend Date2019-03-27
1y Target Est12.59
Trade prices are not sourced from all markets
  • Moody's

    Nissan Canada Financial Services Inc. -- Moody's announces completion of a periodic review of ratings of Nissan Canada Financial Services Inc

    Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Nissan Canada Financial Services Inc and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.

  • Benzinga

    Mexico Suffers Sharp Drop In Auto Production, Exports

    Mexico, one of the biggest exporters of vehicles in the world, experienced a 12.7% drop in total vehicle exports in August from a year ago. Manufacturers shipped 281,811 units last month compared to 322,779 vehicles in August 2018, according to the Mexican National Institute of Statistics and Geography (INEGI) and the Mexican Association of the Automotive Industry (AMIA). AMIA President Eduardo Solís Sánchez said the decline is partly due to lower demand from the U.S., Canada and Brazil, which represent 90% of Mexican auto exports.

  • Reuters

    Former senior Mitsubishi executive set to join rival PSA: source

    A former senior executive at Japanese carmaker Mitsubishi, which is part of an alliance with Nissan and Renault, is set to work at rival PSA Group, the maker of Peugeot, a source close to the matter said on Friday. Vincent Cobee was Mitsubishi's head of product strategy until April this year and had previously worked at Nissan. PSA Group declined to comment.

  • Reuters

    U.S. probes 553,000 Nissan Rogue SUVs for unintended emergency braking

    The National Highway Traffic Safety Administration (NHTSA) has opened a preliminary investigation into 553,000 Nissan Rogue sport utility vehicles after reports of their automatic emergency braking systems engaging without warning or an obstruction, the agency said on Thursday. The probe into 2017-2018 model year Nissan Rogue and Rogue Sport vehicles follows a petition from the Center for Auto Safety seeking a formal government investigation. The petition noted that Nissan previously issued a Technical Service Bulletin, launched two "Quality Actions," and initiated a "Customer Service Initiative" to address concerns.

  • Departure of Nissan's Saikawa hastened by independent directors - sources
    Reuters

    Departure of Nissan's Saikawa hastened by independent directors - sources

    TOKYO/PARIS (Reuters) - The fate of Nissan CEO Hiroto Saikawa was sealed by two external directors who persuaded the board on Monday to oust the company veteran and spare the carmaker more reputational damage after a string of high-profile scandals, two sources said. Outside directors Jenifer Rogers and Keiko Ihara, members of corporate governance committees created in the aftermath of the arrest of former chairman Carlos Ghosn, pushed for Saikawa's departure at a board meeting that went on for several hours at Nissan Motor's Yokohama headquarters, the sources said.

  • Departure of Nissan's Saikawa hastened by independent directors: sources
    Reuters

    Departure of Nissan's Saikawa hastened by independent directors: sources

    TOKYO/PARIS (Reuters) - The fate of Nissan CEO Hiroto Saikawa was sealed by two external directors who persuaded the board on Monday to oust the company veteran and spare the carmaker more reputational damage after a string of high-profile scandals, two sources said. Outside directors Jenifer Rogers and Keiko Ihara, members of corporate governance committees created in the aftermath of the arrest of former chairman Carlos Ghosn, pushed for Saikawa's departure at a board meeting that went on for several hours at Nissan Motor's Yokohama headquarters, the sources said.

  • Nissan China head, turnaround executive among top candidates for CEO: sources
    Reuters

    Nissan China head, turnaround executive among top candidates for CEO: sources

    SEATTLE/PARIS (Reuters) - The head of Nissan Motor Co's China business and an executive tasked with leading its revival have emerged as two of the top candidates to take over as the next CEO of the troubled Japanese automaker, four people familiar with the matter said. There is also a possibility that another candidate could still be successful, with temporary Chief Executive Yasuhiro Yamauchi seen as one possibility, according to two sources. The appointment of Nissan's next CEO in October will have vast implications for both the future of Japan's second-largest automaker and its strained alliance with top shareholder Renault SA. The next leader could push for deeper ties with Renault or greater independence from it.

  • TheStreet.com

    Carmaker Stocks to Favor and to Avoid Amid a Slumping Asian Auto Sector

    Car sales are sliding in China and plummeting in India, which is putting pressure on automakers that sell in those markets.

  • Recovery first: for next Nissan CEO, priority is profit before Renault partnership
    Reuters

    Recovery first: for next Nissan CEO, priority is profit before Renault partnership

    The next head of Nissan Motor Co will need to prioritise a recovery in profits at the troubled Japanese firm ahead of trying to fix its relationship with top shareholder Renault SA, executives and analysts say. Reviving earnings would strengthen the carmaker's hand in negotiations with its French partner, and is something Renault itself would welcome as the owner of a 43.4% stake in Nissan. Japan's second-largest automaker said on Monday CEO Hiroto Saikawa would step down on Sept. 16 after he admitted to being overpaid in breach of company rules.

  • Financial Times

    Who can fix Nissan?

    For almost a year, Hiroto Saikawa defied gravity. Against expectations, Nissan’s chief executive survived the ousting of Carlos Ghosn, a damning corporate governance probe, accusations that he  signed ...

  • Nissan Ousts CEO Over Pay Scandal as Turmoil Deepens
    Bloomberg

    Nissan Ousts CEO Over Pay Scandal as Turmoil Deepens

    (Bloomberg) -- Less than a year since the dramatic downfall of Carlos Ghosn, Nissan Motor Co. is losing another leader.Chief Executive Officer Hiroto Saikawa was asked by the board on Monday to step down by Sept. 16. He’ll be replaced by Chief Operating Officer Yasuhiro Yamauchi until a permanent replacement is named by the end of October.With Saikawa felled by a scandal over excess pay, the Japanese automaker finds itself in familiar territory, facing questions over its corporate governance and an uncertain future. In the months since Ghosn — the auto titan who ruled over Nissan for two decades — was arrested for allegedly under-reporting his own compensation and misappropriating funds, Nissan has struggled to bounce back.Under Saikawa’s reign, Nissan distanced itself from his larger-than-life predecessor, while earnings deteriorated and relations with top shareholder Renault SA soured to the point that a mega-merger with Fiat Chrysler Automobiles NV collapsed. Nissan’s next CEO will face the challenge of righting a ship in disarray at a crucial moment, with global automakers rushing to position themselves for the coming age of electric vehicles and robocars.Pressure on Saikawa intensified following reports last week that he and other Nissan executives were paid more than they were entitled, dealing a final blow to the under-siege CEO. Amid the fallout from losing Ghosn, a leader who loomed large over the company for a generation, Nissan has also been grappling with decade-low profits and job cuts as car sales slow around the world.“I should have clarified, ironed out everything and handed my baton over to a successor, but I couldn’t finish everything,” Saikawa said to reporters late Monday, dressed in his usual white shirt and jacket without a tie.“Nissan needed a leader with deft political skills who embodied a clean break with the Ghosn era. Saikawa wasn’t it.”\--Chris Bryant, Bloomberg Opinion columnistTo read the column, click hereThe Nissan lifer, 65, betrayed few emotions as he sat alone, taking questions after the board had finished explaining his departure. “I wanted to set things right and resign.”Ten CandidatesNissan shares rose as much as 3.3% on Tuesday, a day after the announcement.The board’s nomination committee will select the next CEO from a pool of about 10 candidates, said lead director Masakazu Toyoda. The prospects include non-Japanese, women and people from Renault, Nissan’s partner in a global auto-making alliance that also includes Mitsubishi Motors Corp.Renault and its largest investor, the French government, declined to comment on Saikawa’s resignation.An internal investigation by Nissan found Saikawa had been overpaid by 96.5 million yen ($901,000) via stock appreciation rights, or 47 million yen after tax. The probe also estimated that the sum of paid and unpaid amounts related to misconduct by Ghosn and Greg Kelly, a former senior executive who was arrested along with Nissan’s ex-chairman in November, is about 35 billion yen. Ghosn’s defense counsel responded with a statement calling Nissan’s position inconsistent, contradictory and incoherent, adding that Ghosn will continue to fight claims he believes are baseless.Nissan Overpaid Ghosn Whistle-Blower Hari Nada Along With CEOAlthough Saikawa’s leadership has come under scrutiny since Ghosn’s arrest, he was reappointed as CEO by Nissan’s shareholders earlier this year. In June, Saikawa said that he should be held responsible for the instability unleashed by Ghosn’s downfall and that he wanted the company to accelerate the search for his replacement.The issue over excess pay first came to light after Kelly accused Saikawa in a magazine interview of improperly receiving compensation. Nissan doesn’t consider the excess payment to have violated any laws, and Saikawa has denied he ordered the payments, saying the matter was mishandled by staff.It’s an ironic turn of events for Saikawa, who went from being Ghosn’s protege to the public face of the accusations against him. Nissan’s CEO appeared before the world’s media just hours after the former chairman’s Nov. 19 arrest to denounce his behavior, describing his “indignation” and “despair” at the conduct of his former boss.Like Saikawa now, some of the allegations against Ghosn related to pay. The former chairman is out of jail on bail and due to face trial in Tokyo next year on charges that he failed to disclose compensation from Nissan, passed on trading losses to the carmaker and redirected company money into his own accounts. Ghosn denies all the allegations.Rocky TenureSaikawa’s tenure as the CEO of one of Japan’s auto-making icons was marked by a series of missteps.Just months after he took charge in April, 2017, Saikawa was criticized for not having bowed enough when apologizing for having used un-certified workers to sign off on inspections of newly built cars. Calls for him to resign by Japanese media were amplified after he didn’t show up at a press conference to address the falsification of emissions data.The deterioration of Nissan’s business in the U.S. -- a source of tension between Ghosn and Saikawa before the chairman’s downfall -- has continued into this year. Saikawa has blamed Ghosn’s quest to grow market share in the U.S. at all costs, including by hiking incentives and boosting fleet sales.The deterioration in relations between Nissan and Renault since Ghosn’s arrest and an aborted merger with Fiat Chrysler also added to pressure. Long-held tensions between the two carmakers over control of their alliance broke into the open after Ghosn was arrested and worsened when Renault’s new chairman, Jean-Dominique Senard, pursued the Fiat deal without telling Nissan.French PressureSaikawa started at Nissan after graduating from the University of Tokyo in 1977. Much of his career was spent in the purchasing department, a critical function in any company but especially so for an automaker, since procurement can account for as much as two-thirds of the cost of sales.He served on the board of Renault, Nissan’s biggest shareholder, between 2006 and 2016. During that period the alliance came under pressure from the French state, which had increased its stake in Renault without informing Ghosn.Saikawa led Nissan’s negotiations with Renault and the French government in 2015 to address an imbalance that left the Japanese carmaker with no voting rights for its stake in the French carmaker. A crisis was averted after the French government pledged not to interfere in Nissan’s governance.Since Ghosn’s arrest and ouster as chairman, Saikawa has led a companywide overhaul of Nissan’s corporate governance, including by bringing in more outside directors. He continued to lead negotiations on re-balancing the capital ties with Renault before his resignation.Saikawa will remain a Nissan director despite his resignation, with a meeting of shareholders required to remove him from the board.(Updates with Saikawa remaining on board in last paragraph.)\--With assistance from Chester Dawson and Kae Inoue.To contact the reporters on this story: Ma Jie in Tokyo at jma124@bloomberg.net;Tsuyoshi Inajima in Tokyo at tinajima@bloomberg.netTo contact the editors responsible for this story: Young-Sam Cho at ycho2@bloomberg.net, Reed Stevenson, Craig TrudellFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Financial Times

    Nissan chief Hiroto Saikawa to step down after pay row

    Nissan’s board has decided to remove Hiroto Saikawa as chief executive following a collapse in profits, loss of investor confidence and revelations that he had been improperly overpaid. People close to both the Japanese carmaker and Renault said Mr Saikawa was effectively pushed out on Monday as pressure built to bring in a new chief executive to implement a turnround plan and restore relations with its French partner, which soured in the wake of the ousting of its former chairman Carlos Ghosn. Nissan said Mr Saikawa would step down next week.

  • Financial Times

    Nissan shares rise after chief executive Saikawa removed

    Hiroto Saikawa as chief executive amid a slump in profits, loss of investor confidence and revelations that he had been improperly overpaid. Yasuhiro Yamauchi, chief operating officer, will become interim chief executive until Nissan finds a permanent replacement for Mr Saikawa by the end of next month.

  • Bloomberg

    Nissan Finally Breaks With the Carlos Ghosn Era

    (Bloomberg Opinion) -- The resignation of Hiroto Saikawa, chief executive of Nissan Motor Co. gives the embattled Japanese carmaker a much needed opportunity to clean decks and move on.Ever since the shock arrest of the company’s chairman Carlos Ghosn almost a year ago, the Japanese auto giant has been in permanent crisis mode and ties with its French alliance partner Renault SA have frayed. To steer it through that period Nissan needed a leader with deft political skills who embodied a clean break with the Ghosn era. Saikawa – a Ghosn appointee – wasn’t it.The report that Nissan published concurrently on Monday, detailing allegations of financial misconduct by Ghosn, makes for grim reading (Ghosn denies wrongdoing). Yet Saikawa could never distance himself fully from an era during which Nissan paid lip service to principles of good corporate governance.Revelations that Saikawa too was overpaid improperly were an unacceptable reminder of the allegations that led to Ghosn’s downfall, even if the amounts were smaller and Saikawa says he was unaware of the payments. He isn’t accused of misconduct.That the Nissan CEO seemed to revel in Ghosn’s ousting – so much so that it sparked claims of a palace coup – made it much harder to restore a basis of trust with Renault. In fairness, Renault didn’t help by pushing subsequently for a full-blown merger with Nissan that was unwanted by the Japanese, and then secretly discussed a tie-up with Italy’s Fiat Chrysler Automobiles NV.Meanwhile, Nissan’s recent financial performance under Saikawa has been nothing short of disastrous. Profit is in free fall, the company has lost ground in the vital U.S. market and it has been forced to slash production and jobs.His departure will spark hopes that Nissan can finally mend ties with Renault and do something about the destruction of shareholder value at both companies in recent months. In time perhaps the French side will be able to revive merger talks with Fiat; that deal has strategic and financial merit even if it remains dicey politically. Renault agreeing to cut its 43% Nissan stake might be a good place to start. Nissan holds only 15% of Renault, an imbalance that has fueled the tensions between them. First things first, though. Saikawa’s successor, whose identity Renault will have a say in, must put Nissan’s own house in order. That’s a sentiment Renault chairman Jean-Dominique Senard appears to share.At a time of unprecedented upheaval in the car industry, Nissan can’t afford to be distracted by in-house politics. If change at the top lets executives focus on the business of making and selling cars, so much the better.To contact the author of this story: Chris Bryant at cbryant32@bloomberg.netTo contact the editor responsible for this story: James Boxell at jboxell@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Chris Bryant is a Bloomberg Opinion columnist covering industrial companies. He previously worked for the Financial Times.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Nissan CEO Saikawa to step down on September 16
    Reuters

    Nissan CEO Saikawa to step down on September 16

    Nissan Motor Co's embattled chief executive will step down on Sept. 16 and will be temporarily replaced by Chief Operating Officer Yasuhiro Yamauchi, the automaker's board chairman said on Monday. "Saikawa recently has indicated his inclination to resign, and in line with his desire to pass the baton to a new generation of leaders at Nissan, he will resign on Sept. 16," Chairman Yasushi Kimura told reporters.

  • Reuters

    Nissan to hold news conference at 1100 GMT to discuss board meeting

    Nissan Motor Co said it will hold a news conference at 1100 GMT to discuss topics covered at board meeting today. Chairman of the board of directors, Yasushi Kimura, the chair of the nomination committee, Masakazu Toyoda, the chair of the compensation committee, Keiko Ihara, and the chair of the audit committee, Motoo Nagai, will attend, Nissan said in an email.

  • Financial irregularities force new Nissan boss to step down
    Reuters Videos

    Financial irregularities force new Nissan boss to step down

    Nissan CEO Hiroto Saikawa will step down on September 16th, the Japanese carmaker confirmed Monday (September 9). The change comes after Saikawa admitted to being improperly overpaid and violating internal procedures. It brings an end to his two and half years as company President and CEO. (SOUNDBITE) (Japanese) NISSAN MOTOR CEO HIROTO SAIKAWA SAYING: ''Thinking of when to take responsibility and when to prepare for the next step, I chose the earliest possible time to resign." Saikawa's resignation means fresh crisis for the automaker, following the arrest in Tokyo last year of former chairman Carlos Ghosn over alleged financial misconduct. He was later forced to resign from the car company. Chief Operating Officer Yasuhiro Yamauchi will step-in to temporarily replace Saikawa. Nissan said it would select a new permanent CEO before the end of October.

  • Musk goes cyberpunk, Nissan CEO steps down
    Yahoo Finance Video

    Musk goes cyberpunk, Nissan CEO steps down

    Elon Musk has described the forthcoming Tesla pickup truck a "cyberpunk" and has called it "the coolest car I've ever seen." In other news, Nissan CEO Hiroto Saikawa, is stepping down next week. Yahoo Finance’s Dan Roberts, Julia La Roche, Sibile Marcellus and Pras Subramanian discuss.