|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||14.21 - 14.25|
|52 Week Range||13.21 - 19.68|
|Beta (3Y Monthly)||0.73|
|PE Ratio (TTM)||4.28|
|Forward Dividend & Yield||1.03 (7.30%)|
|1y Target Est||12.58|
(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 two-thirds 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.To contact the reporter on this story: Ma Jie in Tokyo at firstname.lastname@example.orgTo contact the editors responsible for this story: Young-Sam Cho at email@example.com, Reed Stevenson, Ville HeiskanenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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 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 publicized 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.
When it comes to reducing carbon emissions and other air pollutants, we typically focus on consumer vehicles, but they're far from the only vehicles that could use improvement. In particular, low-speed local vehicles such as buses and delivery vehicles could be excellent targets for electrification. Nissan chose a more fun example, though, in the form of an ice cream van based on the Nissan e-NV200, an electric commercial van available in Europe.
Pricing for the 2020 Nissan Altima midsize sedan is out, and most trim levels have gone up in price. The smallest increase is on the base S trim, which creeps up $100 to $24,995. The SR trims see the highest increase at $350.
(Bloomberg) -- The Japanese government played a role in the breakdown of merger talks between Renault SA and Fiat Chrysler Automobiles NV earlier this month, weighing in with concerns the combination could harm Nissan Motor Co., people familiar with the matter said.Japan signaled its misgivings over the deal to the French government, said the people, asking not to be identified speaking about the negotiations. France -- Renault’s most powerful shareholder -- then sought a pause in the talks for more time to win Nissan’s support, provoking Fiat to withdraw its offer.Details on Japan’s role, only emerging now, highlight the obstacles to a quick resumption in merger negotiations between Renault and its Italo-American rival. They also show that France and Japan can find common ground to protect their carmakers and the two-decade Renault-Nissan alliance.A spokesman for Japan’s ministry of economy, trade and industry declined to comment, as did a spokesman for the French finance ministry. Representatives for Renault and Nissan also declined to comment.Renault and the French state are now focusing on repairing the relationship with Nissan, under strain since the November arrest of Carlos Ghosn, who oversaw both companies and their partnership. Tensions escalated further when Renault’s new chairman, Jean-Dominique Senard, pressed Nissan for a merger it didn’t want, then pursued the Fiat deal without telling the Japanese company.Relations touched a new low earlier this month when Senard threatened to block Nissan’s new governance plan at its annual shareholders meeting. An accord Thursday put an end to the spat over boardroom powers, easing tensions for now.Heading into the pivotal June 5 Renault board meeting, Senard and Fiat Chairman John Elkann were pushing for quick approval of the French-Italian tie-up.Nissan had been cool to the Fiat-Renault deal since it first learned of the talks, people familiar with the matter said. But rather than come out against it openly, the Japanese company’s representatives on Renault’s board choose to signal their opposition with an abstention, the people said. Dialogue with Japanese officials helped their French counterparts understand Nissan’s position, prompting France to put the brakes on the deal.While CEO Hiroto Saikawa had pledged to protect Nissan’s interests, the company didn’t ask METI to intervene with the French government, according to a person familiar with the matter. French Finance Minister Bruno Le Maire has said that Nissan’s plan to abstain on the Renault-Fiat vote drove his decision to seek a delay.The last-minute move by Le Maire to pause the Renault-Fiat talks won him praise from some Nissan insiders. The Fiat proposal was seen by some at Nissan as a way of getting control of the company and its key technologies and to benefit from its presence in the U.S. and China -- all on the cheap. Renault owns 43% of Nissan and their operations are so intertwined that the deal would have had deep implications for the Japanese partner, the insiders said.\--With assistance from Ma Jie and Emi Nobuhiro.To contact the reporters on this story: Ania Nussbaum in Paris at firstname.lastname@example.org;Kae Inoue in Tokyo at email@example.com;Geraldine Amiel in Paris at firstname.lastname@example.orgTo contact the editors responsible for this story: Tara Patel at email@example.com, ;Anthony Palazzo at firstname.lastname@example.org, Frank ConnellyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Japan's Nikkei dropped on Friday as investors awaited cues from U.S.-China trade talks, while oil and mining shares were in demand amid rising geopolitical risks in the Middle East. Investors' focus has now shifted to a meeting between U.S. President Donald Trump and China's President Xi Jinping during a Group of 20 summit in Japan next week, with hopes that they can put negotiations back on track to de-escalate a trade war. Trump said that he would decide whether to carry out his threat to hit Beijing with tariffs on at least $300 billion in Chinese goods after the meeting.
Japan's Nikkei edged lower in choppy trade on Friday as investors awaited cues from U.S.-China trade talks, while oil and mining shares were in demand amid rising geopolitical risks in the Middle East. Investors' focus has now shifted to a meeting between U.S. President Donald Trump and China's President Xi Jinping during a Group of 20 summit in Japan next week, with hopes that they can put negotiations back on track to de-escalate a trade war. Trump said that he would decide whether to carry out his threat to hit Beijing with tariffs on at least $300 billion in Chinese goods after the meeting.
(Bloomberg) -- Renault SA welcomed a decision by partner Nissan Motor Co. granting the French carmaker a seat on its board committees, signaling an end to a dispute that has poisoned the world’s largest auto alliance.The accord could help mend relations, which plumbed to new depths after Renault Chairman Jean-Dominique Senard threatened to abstain from voting on a governance plan at Nissan’s annual meeting next week. His demand for more committee representation came shortly after Nissan failed to support a merger between Renault and Fiat Chrysler Automobiles NV.The Japanese company will give Renault CEO Thierry Bollore a seat on the board’s audit committee and Senard a position on the nomination committee — key positions at the heart of decision making, Nissan said in a statement Friday. Renault now expects to support Nissan’s resolutions during the investor meeting on June 25, people familiar with the matter said, asking not to be identified discussing the negotiations.“The agreement reached on Renault’s presence in Nissan’s new governance confirms the spirit of dialogue and mutual respect that exists within the alliance,” Renault said in a statement.Yasushi Kimura, an adviser to oil company JXTG Holdings Inc. will chair the board and Senard will become the vice-chair. The nomination committee will be chaired by Masakazu Toyoda, the lead independent outside director.The concessions from Nissan to let Renault’s CEO on the audit committee came with strings attached. The Japanese automaker is placing restrictions on Bollore’s role in areas where the two companies might have a conflict of interest, people familiar with the matter said.No ChoiceWhile tensions between the partners have never been higher, both sides have indicated they have little choice but to patch up their two-decade alliance. The partnership has proven one of the most successful among automakers, generating 5.7 billion euros ($6.4 billion) in savings from manufacturing, purchasing and engineering in the 2017 financial year, the companies estimate.Yet the alliance has grown increasingly fractious since the November arrest of former leader Carlos Ghosn on accusations of financial misconduct, which he has denied. Nissan’s governance overhaul was largely geared toward improving oversight following the scandal.In the aftermath, a joint audit by the two companies also found transparency breaches and a lack of adequate financial controls at RNBV, the Amsterdam-based company that managed the alliance. Since then, RNBV has been shrunk, its executives re-assigned to their respective companies and common services, such as communications and legal, appear to be dormant.Waymo DealStill, common projects continue to emerge. The three-way alliance, which includes smaller member Mitsubishi Motors Corp., unveiled a partnership on Thursday to explore driverless services in France and Japan with Waymo LLC, the autonomous-vehicle unit of Google parent Alphabet Inc.The lopsided shareholding arrangement between Renault and Nissan has been a long-running source of friction: Renault’s 43% stake in Nissan comes with voting rights, while Nissan’s 15% holding in Renault does not. The role of France, Renault’s most powerful shareholder, has also irked Nissan.Following the abrupt collapse of the merger discussions with Fiat, both Renault and the French state pledged to repair the alliance with Nissan before contemplating a resumption of talks with the Italo-American carmaker. France in particular views securing Nissan’s explicit backing as crucial for the success of a Fiat-Renault combination. Nissan representatives on Renault’s board abstained in an informal vote on the deal last week, leading France to seek a delay.Despite the finger-pointing that followed the failed talks, Renault, Fiat and France left the door ajar for a possible deal as they brace for the costly changes sweeping the industry, such as developing electric and autonomous vehicles.(Updates with company announcement in third graph.)To contact the reporters on this story: Ania Nussbaum in Paris at email@example.com;Ma Jie in Tokyo at firstname.lastname@example.org;Kae Inoue in Tokyo at email@example.comTo contact the editors responsible for this story: Anthony Palazzo at firstname.lastname@example.org, ;Kenneth Wong at email@example.com, Reed StevensonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Alphabet unit Waymo will study self-driving car services to move people and goods with Renault and Nissan.
For some, chasing the neighborhood ice cream truck is a favorite summer tradition. Nissan thinks it can change that. The prototype is based on Nissan's e-NV200, a fully electric light commercial vehicle that has a range of up to 124 miles.
TOKYO/PARIS (Reuters) - Japan's Nissan said on Friday it would grant alliance member Renault's representatives seats on key committees of its board, ending a dispute between the two automakers. Nissan said it will give Renault Chief Executive Thierry Bollore a seat on its board's audit committee and Renault Chairman Jean-Dominique Senard a seat on its nomination committee. The move comes after demands by Senard for representation on the committees in return for approving Nissan's overhauled governance structure plunged the two-decade-old partnership into crisis.
File ice cream vans under "things I never thought posed a significant risk tothe environment but might actually
Waymo might make its way to the top of the automotive world with the help of industry giants that chose to team up with the company. The Alphabet subsidiary has just inked a deal with Renault and Nissan to explore the development of driverless mobility services. None of the companies involved revealed details about the project other than the products they do come up with will transport people and deliver goods in France and Japan. According to Reuters , though, the partnership will also explore the development of self-driving cars for the regions. Who knows -- it might even give Waymo the chance to get in on the Tokyo 2020 Olympics robotaxi action.
Waymo has locked in an exclusive partnership with Renault and Nissan toresearch how commercial autonomous vehicles might work for passengers andpackages in France and Japan
DETROIT/PARIS (Reuters) - French automaker Renault SA, its Japanese partner Nissan Motor Co and tech giant Alphabet Inc's Waymo are exploring a partnership to develop and use self-driving vehicles to transport people and goods in France and Japan, the companies said on Thursday. In Japan, a potential competitor to a Renault-Nissan-Waymo venture would be Monet Technologies, a self-driving project involving Toyota Motor Corp and Honda Motor Co and backed by SoftBank Group Corp. SoftBank and Honda also have invested in General Motors Co's Cruise self-driving car unit.
Renault and Nissan have signed an exclusive deal with Waymo to develop self-driving transport services in Paris and Japan, in a show of unity for the shaky alliance between the two carmakers. The trio will develop services for transporting people and goods using Waymo’s self-driving technology that is currently being trialled in the US, incorporated into their vehicles. The FT reported on Wednesday that several key business divisions of the alliance have been dissolved as the two businesses drift further apart, undoing work by former leader Carlos Ghosn to try to make the alliance “irreversible”.
Cutting its stake in alliance partner Nissan is not on Renault's agenda, the French carmaker's chief executive Thierry Bollore said on Wednesday after a global vehicle launch in New Delhi. Renault and Fiat Chrysler (FCA) are looking for ways to resuscitate a failed merger plan and secure Nissan's approval, Reuters reported this month. As part of the fallout of the collapse of talks, Nissan is poised to urge Renault to significantly cut its 43.4% stake in the Japanese carmaker, two people told Reuters.
The Paris Périphérique, or ring-road, would be the ultimate challenge for driverless cars. Could computers ever master its stressful, congested conditions? On Thursday, Renault and Nissan announced a deal ...