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Japan’s Mitsubishi Motors (OTC:MMTOF), a key partner of Nissan (OTC:NSANY), may opt out of the proposed merger between Nissan and Honda (NYSE:HMC), sources revealed on Friday. The merger, aimed at creating the world’s third-largest automaker with annual production of 7.4 million vehicles, has faced uncertainty as Mitsubishi deliberates its participation.
Mitsubishi Motors, where Nissan holds a 24% stake, plans to stay independent while maintaining cooperative ties with both companies, according to anonymous insiders. Concerns over Mitsubishi's limited influence on the management of the planned joint holding company have reportedly driven the decision, as per The Yomiuri.
On Friday, Mitsubishi Motors shares dropped over 6%, while Nissan's fell 1.6%. Despite speculation, Mitsubishi stated it is still exploring options and no final decision has been made. The company denied authorizing media reports about its role in the merger framework.
Nissan and Honda announced in December their intent to finalize merger discussions by mid-2025, with plans to establish a holding company by August 2026. This would lead to delisting their shares. However, Mitsubishi Motors appears focused on strengthening its market position in Southeast Asia, a key growth region.
Nissan declined to comment on The Yomiuri’s report, referring only to Mitsubishi’s statement. Honda has yet to respond.
This development marks a significant shift in the evolving partnership dynamics within Japan’s automotive industry, potentially reshaping the competitive landscape globally.
By staying out of the merger, Mitsubishi aims to sustain its independence and leverage growth opportunities in emerging markets, signaling a calculated move to align with its strategic priorities.
