Latest news with #NissanMotorCo
Business Insider
9 hours ago
- Automotive
- Business Insider
Bernstein Reaffirms Their Sell Rating on Nissan Motor Co (NSANF)
In a report released today, Masahiro Akita from Bernstein maintained a Sell rating on Nissan Motor Co (NSANF – Research Report), with a price target of Yen250.00. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Akita is an analyst with an average return of -2.9% and a 26.67% success rate. Akita covers the Consumer Cyclical sector, focusing on stocks such as Nissan Motor Co, Suzuki Motor, and Toyota Motor. Currently, the analyst consensus on Nissan Motor Co is a Strong Sell with an average price target of $2.03.
Qatar Tribune
5 days ago
- Automotive
- Qatar Tribune
Nissan's severance payments under fire
Agencies Four former Nissan Motor Co top executives including ex-President and CEO Makoto Uchida received a combined total of 646 million yen for leaving top roles at the embattled Japanese automaker, a general shareholders' meeting notice showed Tuesday. The large payouts may draw investor ire at the June 24 meeting, after Uchida stood down in March following unsuccessful merger talks with Honda Motor Co and with the company planning to ax thousands of jobs with a net loss of 670.9 billion yen for the fiscal year ended March. The three others subject to the severance pay were former chief brand and customer officer Asako Hoshino, former chief technology officer and executive officer Kunio Nakaguro, and Hideyuki Sakamoto, who served as executive officer for manufacturing and supply chain and Sakamoto are still serving as board directors until the end of the shareholders' meeting. The company did not provide details on their individual payouts. Combined remuneration for Nissan's current five executive officers was nearly 1.66 billion yen, according to the notice. Japan's third-biggest automaker by volume has been pressured by faltering vehicle sales in China and the United States. Since new President and CEO Ivan Espinosa took over from Uchida in April, the automaker is rushing to streamline global operations to return to profitability in the next fiscal year. It said in mid-May it plans to more than double staff cuts to 20,000 people and close seven of its 17 vehicle plants.
Japan Today
5 days ago
- Automotive
- Japan Today
Nissan to raise ¥1 tril by issuing debt, selling assets
Ailing Nissan Motor Co is planning to raise around 1 trillion yen by issuing corporate bonds and selling assets to secure funds as it approaches a massive bond redemption, a company source said Wednesday. Nissan and its affiliated companies face the redemption of roughly 780 billion yen in corporate bonds during the current fiscal year through March. It also requires funds to cover costs related to plant closures and other restructuring measures. The source said the fund-raising plan was explained to directors by executive officers. The company aims to secure a portion of the funds by around the summer. In addition to issuing debt, Nissan is considering selling real estate and stocks it holds and may seek loans guaranteed by a British government-linked institution, the source said. Japan's third-biggest automaker by volume, which has been grappling with poor sales in the United States and China, is stepping up its streamlining efforts after logging a net loss of 670.90 billion yen for fiscal 2024. The company said on May 13 it will shut seven vehicle plants and cut 20,000 jobs globally. © KYODO
Bloomberg
5 days ago
- Automotive
- Bloomberg
Nissan Going Cap in Hand to UK for Loan May Spur Japan to Act
Nissan Motor Co.'s efforts to obtain a loan backed by the UK government raises the question of whether Japan will be pressured to step in and also support the struggling Japanese automaker. That would be unusual, but not unprecedented.
Bloomberg
5 days ago
- Business
- Bloomberg
Nissan Plans $7 Billion Funding With Backing From UK Government
Nissan Motor Co., facing a huge loan repayment wall next year, is seeking to raise more than ¥1 trillion ($7 billion) from debt and asset sales to keep operations on track, according to documents seen by Bloomberg News. The struggling Japanese automaker plans to issue as much as ¥630 billion in convertible securities and bonds, including high-yielding US dollar and euro notes, the documents show. Nissan also plans to take out a £1 billion ($1.4 billion) syndicated loan, guaranteed by UK Export Finance.
