Renault and Nissan have been uneasy partners since former boss Carlos Ghosn was arrested Photo: AFP/File
business

Nissan denies reported plans to split with Renault

26 Comments
By Kenzo Tribouillard

Japanese auto giant Nissan is "in no way" planning to end its partnership with Renault, the Japanese automaker insisted Tuesday after a report suggested a divorce was possible in the wake of the Carlos Ghosn scandal.

Britain's Financial Times, citing "several people with knowledge of the matter", said Monday that said senior executives at the scandal-hit firm were speeding up work on secret plans for a potential parting of ways with France's Renault.

But in a statement Tuesday, Nissan firmly denied the claims. "Nissan is in no way considering dissolving the alliance," the statement said.

"The alliance is the source of Nissan's competitiveness," the firm said, adding that it will look to continue delivering "win-win results for all member companies."

The partnership, which also includes Mitsubishi Motors, has been troubled since the shock arrest of its former chief Ghosn on charges of financial misconduct.

Ghosn, who last month jumped bail in Japan and fled to Lebanon, claims the charges against him were cooked up by disgruntled Nissan executives hoping to block his plans to more closely integrate the automaker with Renault.

In a news conference in Lebanon, he claimed the alliance was now on the rocks and directionless.

The alliance's new chief, Jean-Dominique Senard, earlier hit back at the reports of a planned split, telling Belgian daily L'Echo the claims had "no connection to the current situation of the alliance".

"The Renault-Nissan alliance is not dead! Soon we will show you why," he said in an interview published Tuesday. "I ask myself, where does this sort of information come from? I am not sure it comes from a place of goodwill."

Nissan fell nearly three percent Tuesday afternoon.

The 20-year partnership between Nissan and Renault, whose alliance is based on cross-shareholdings without a joint structure, has been badly shaken by the Ghosn scandal.

But Senard said the alliance was "nowhere near" the point of collapse and insisted its leaders were busy "recreating its original spirit" and planning future investments.

A source close to Nissan told AFP that the leaks probably came from "a few disgruntled souls" inside the company who wanted to "vent their frustration", adding that rebuilding trust between the two firms "will take time".

© 2020 AFP

©2020 GPlusMedia Inc.

26 Comments
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There is no smoke without fire as the old adage goes. We shall soon know whether the report by FT is true or not. Good luck to Nissan.

10 ( +11 / -1 )

Hahaha... well, now they can't!

7 ( +9 / -2 )

Financial Times, citing "several people with knowledge of the matter", said Monday that said senior executives at the scandal-hit firm were speeding up work on secret plans for a potential parting of ways with France's Renault.

There are already rumors about this by the time Ghosn got arrested. During interview and press conference after his escape Ghosn also mentioned about this. Now foreign media also able confirmed it. While Japanese media busy with his box.

9 ( +13 / -4 )

So it's "a few disgruntled souls", but there's a breach of trust big enough that it can't be quickly mended. Uh huh. And the FT piece talks about Nissan's contingency plans for a breakup being worked on by senior executives. Senior execs don't spend their time on that sort of thing for no reason.

9 ( +10 / -1 )

smithinjapanToday  04:56 pm JST

Hahaha... well, now they can't!

Oh, sure they can...they'll just say the "circumstances have recently changed, and we feel compelled to take actions we had previously no desire to take....etc". No one expects honesty.

11 ( +12 / -1 )

The fact that many didn't want to see Nissan merged with Renault and wanted to remove any of Renault's voting shares is the one part of this scandal that people in favor of Ghosn and against Ghosn agree with. The fact that they are now making a public statement about it won't change people's minds.

2 ( +3 / -1 )

So, was there a report made or not? It would seem there was a report made and now they are back peddling in some kind of damage control.

1 ( +1 / -0 )

Watch, they will do the exact opposite.

2 ( +3 / -1 )

They keep calling it "Carlos Ghosn scandal". Isn't it in fact a scandal including other Nissan Executives. I'm sure I read that Saikawa and other execs took money as well. Or didn't everyone already forget.

13 ( +14 / -1 )

jansob1: "Oh, sure they can...they'll just say the "circumstances have recently changed, and we feel compelled to take actions we had previously no desire to take....etc". No one expects honesty."

Oh, I know they'll eventually stick to doing what they planned -- they can't even change a local school event if a major disaster is coming, they're not about to backpedal on something this big. But it still makes them look worse, and that means waiting longer than planned and coming up with flimsy excuses on top of already lame reasons for departure. And, let's face it: the Nissan Ghosn saved will go down in flames once they do. No one will save them quite the same way next time. I think even they know that.

1 ( +4 / -3 )

if Renault had any balls it would sever its dealings with Nissan but it doesn't so won't.

3 ( +4 / -1 )

... he claimed the alliance was now on the rocks and directionless.

Nissan’s value certainly has direction. I wonder how many decent Japanese families will be negatively affected by this mess created by Japan’s Financial Services Agency, led by none other than kingpin Taro Aso, who has a history of creating messes.

4 ( +4 / -0 )

If Nissan is saying ' no way ' then its definitely being worked on behind the screen.

3 ( +4 / -1 )

"The alliance is the source of Nissan's competitiveness," 

Nissan is dead to me so whatever reasons they come up with for whatever happens now don’t matter.

2 ( +3 / -1 )

“There is no smoke without fire as the old adage goes. “

Yeah sure, maybe.

But the problem with the internet these days is that every dumb troll has a match.

0 ( +2 / -2 )

since1981 - They keep calling it "Carlos Ghosn scandal". Isn't it in fact a scandal including other Nissan Executives. I'm sure I read that Saikawa and other execs took money as well. Or didn't everyone already forget.

And, the misuse of funds that Ghosn is being accused of were signed off by the board of directors that included that Sakaiwa weasel.

5 ( +6 / -1 )

Whatever is diametrically opposite of what Nissan claims may be the closest thing to the truth that we can get...

1 ( +2 / -1 )

The report is probably true! It is the reason Ghosn was initially arrested to gain leverage to stop the merger.

It seems that certain politicians are involved, and I guess of at least one politician probably involved in the Nissan mess.

Deputy prime minister calls Japan a nation with single race

https://www.yahoo.com/news/deputy-prime-minister-calls-japan-094510559.html

As Japan looks more and more foolish on the world stage with this Ghosn situation, I predict that Japanese government and Nissan will use the "attacking my Japanese culture" excuse to justify the Renault split and their embarrassing "justice system".

4 ( +5 / -1 )

Not the "Carlos Ghosn scandal" but the "Nissan scandal"!

8 ( +9 / -1 )

"The Renault-Nissan alliance is not dead! Soon we will show you why," he said in an interview published Tuesday. "I ask myself, where does this sort of information come from? I am not sure it comes from a place of goodwill.

Headline Japan Today article in two weeks: "Breaking News, Nissan Splits From Renault Partnership"

lol pure comedy

3 ( +3 / -0 )

After 20 years of 'Alliance' their business systems still do not align at all, even Japanese banks managed to do some sort of integration after 10 years.

2 ( +2 / -0 )

A source close to Nissan told AFP that the leaks probably came from "a few disgruntled souls" inside the company who wanted to "vent their frustration", adding that rebuilding trust between the two firms "will take time".

Notice how Renault isn't in trouble for anything relating to the execs pay scandal but it's Nissan acting indignantly. I wouldn't be surprised if Renault said "Fine, bye!" and joined Chrysler after all.

Nissan won't do anything sensible to save itself, they'll just enjoy being 'a Japanese company' while stock and profit fall out of the sky. It's quite typical of Japan Inc.'s attitude to problems, just huff and puff but do absolutely nothing to properly fix anything

4 ( +4 / -0 )

It's not like they have much choice. What are they going to do, buy their shares back?

1 ( +1 / -0 )

Nissan needs to take leadership of this relationship and hire more Japanese in top positions.

oh like they did in the 80s and 90s , almost bankrupt the company until Renault and Ghosn saved their butts! LOL

6 ( +6 / -0 )

@wtfjapan Yep

2 ( +2 / -0 )

Denies... well then, it must surely be a near Truth if not a truth... that they are busily trying to cover up...

Nissan bite the dust.

0 ( +0 / -0 )

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