Nissan Motor Co., Ltd.

Who owns Nissan Motor Co., Ltd.?
Nissan is a publicly traded company listed on the Tokyo Stock Exchange under ticker 7201. Renault S.A. is the largest shareholder with 15 percent of voting rights directly, plus an additional 18.66 percent held in a French trust with neutral voting. Under the alliance agreement amended in March 2025, the minimum cross-shareholding was reduced from 15 percent to 10 percent. Nissan holds a 15 percent stake in Renault and a 24.5 percent stake in Mitsubishi Motors. No single shareholder has majority control.

Is Nissan profitable?
Nissan has not been profitable in recent years. The company reported a net loss of ¥533.1 billion in FY2025 (year ended March 2026), following a net loss of ¥670.9 billion in FY2024. Operating income was ¥58.0 billion in FY2025, representing a margin of just 0.5 percent. For FY2026, Nissan forecasts net income of ¥20 billion, which would be its first profit in three years if achieved. Free cash flow turned positive in the second half of FY2025 at ¥112 billion.

What is the Re:Nissan plan?
Re:Nissan is the company's recovery plan announced in May 2025 by CEO Ivan Espinosa. The plan targets ¥500 billion in total cost savings versus FY2024, split between fixed costs (¥300 billion) and variable costs (¥200 billion). It includes a workforce reduction of 20,000 employees and consolidation of the global manufacturing footprint from 17 to 10 sites by FY2027. The plan aims to achieve positive automotive operating profit and free cash flow by FY2026.

What brands does Nissan own?
Nissan owns four automotive brands. The Nissan brand is the mass-market division, producing cars, trucks, SUVs, and electric vehicles. Infiniti is the luxury vehicle division, launched in 1989, sold in approximately 25 markets. Venucia is a Chinese market brand operated through the Dongfeng Nissan joint venture, launched in 2010. Nismo is the performance and motorsport division. The company also owns Autech, a specialty vehicle conversion subsidiary that has been merged with Nismo.

What happened to the Honda-Nissan merger?
In December 2024, Nissan and Honda announced they were exploring a business integration worth approximately $60 billion that would have created the world's fourth-largest auto group. The talks collapsed in February 2025 after Honda proposed making Nissan a subsidiary rather than an equal partner under a joint holding company. Nissan rejected the subordinate structure. Both companies agreed to terminate the memorandum of understanding but continue strategic collaboration on EVs, batteries, and software through their existing partnership with Mitsubishi Motors.

Who is the CEO of Nissan?
Ivan Espinosa is the President and Chief Executive Officer of Nissan Motor Co., Ltd. He took office in April 2025, replacing Makoto Uchida. Espinosa previously served as Nissan's Chief Planning Officer. Upon taking the role, he launched the Re:Nissan recovery plan to restructure the company's cost base and return to profitability. Uchida had served as CEO since December 2019 and led the company through the post-Ghosn restructuring period.

What is the Renault-Nissan-Mitsubishi Alliance?
The Renault-Nissan-Mitsubishi Alliance is a strategic partnership between the three automakers, formed in 1999 when Renault acquired a 36.8 percent stake in Nissan. Mitsubishi Motors joined in 2016 when Nissan acquired a 34 percent stake. The alliance enables shared platforms, technology development, and cost efficiencies. In recent years, the alliance has been significantly restructured. In March 2025, Renault and Nissan reduced their minimum cross-shareholding requirement from 15 percent to 10 percent and agreed to further operational separation, including Renault taking full ownership of their Indian joint venture.

Nissan's origins can be traced to 1911, when Masujiro Hashimoto founded Kwaishinsha Motor Car Works in Tokyo. In 1914, the company produced its first car, called the DAT, named after the initials of three investors: Kenjiro Den, Rokuro Aoyama, and Meitaro Takeuchi. In 1932, the car was renamed Datsun, changing "son" to "sun" because "son" sounded like the Japanese word for "loss."

The modern Nissan Motor Co., Ltd. was established on 26 December 1933, when Yoshisuke Aikawa's holding companies, Nihon Sangyo and Tobata Casting, invested to create Jidosha Seizo Co., Ltd. Aikawa, an entrepreneur who had studied manufacturing in the United States, became the company's first president. In June 1934, the company was renamed Nissan Motor Co., Ltd., taking the name from Nihon Sangyo, which was abbreviated as "Ni-San" on the Tokyo Stock Exchange.

Nissan's Yokohama Plant, completed in 1935, became Japan's first mass production automobile factory. The company began exporting Datsun vehicles to Asia and Central and South America in the same year. During the 1930s and 1940s, Nissan also produced military vehicles and aircraft engines for the Japanese war effort.

After World War II, Nissan resumed passenger car production and began a period of rapid growth. The company expanded internationally in the 1950s and 1960s, exporting Datsun vehicles to the United States and other markets. The Datsun brand became well known globally for affordable, reliable vehicles. In the 1980s, Nissan began manufacturing vehicles in the United States, opening its Smyrna, Tennessee plant in 1983.

In 1985, Nissan formed a secret "Horizon Task Force" to develop a luxury vehicle brand for the American market, responding to Honda's launch of Acura and Toyota's development of Lexus. Infiniti was officially launched on 8 November 1989, with two models: the Q45 sedan and the M30 coupe. The brand was initially focused on the North American market but later expanded to China, the Middle East, and Europe. In 2012, Infiniti moved its global headquarters to Hong Kong to focus on the Chinese luxury market, before relocating back to Yokohama in 2020.

In 2002, Nissan and Dongfeng Motor Corporation established Dongfeng Motor Co., Ltd., a 50:50 joint venture that became one of the largest auto joint ventures in China. Nissan invested approximately ¥240 billion ($2 billion at the time) in the partnership. In September 2010, Dongfeng Nissan announced the Venucia brand, designed specifically for the Chinese domestic market. The first Venucia model went on sale in 2012. In September 2014, Dongfeng Infiniti Motor Co., Ltd. was officially inaugurated to manage Infiniti's operations in China.

The Carlos Ghosn era began in 1999, when Renault acquired a 36.8 percent stake in Nissan for approximately ¥5 billion. Nissan was near bankruptcy at the time, burdened by debt and declining sales. Carlos Ghosn, a Renault executive nicknamed "Le Cost Killer," was sent to Tokyo to lead the turnaround. Ghosn cut over 20,000 jobs, closed plants, and eliminated unprofitable models. Nissan returned to profitability within two years, and Ghosn became an industry icon in Japan. He was appointed CEO of Nissan in 2001 and later simultaneously led Renault and Nissan.

In 2016, Nissan took a controlling 34 percent stake in Mitsubishi Motors, which was struggling with a fuel economy cheating scandal. Ghosn became chairman of all three companies, creating the Renault-Nissan-Mitsubishi Alliance, which sold over 10.6 million vehicles annually and was briefly the world's largest automotive group by volume.

The Ghosn era ended dramatically in November 2018, when he was arrested at Tokyo's Haneda Airport on charges of underreporting his compensation and misusing company funds. Nissan's board ousted him as chairman days later. Greg Kelly, a Nissan director, was also arrested. The scandal sent shockwaves through the global auto industry and created deep tensions within the Renault-Nissan alliance. Ghosn maintained his innocence and in December 2019 fled Japan in a dramatic escape hidden in a box on a private jet, reaching Lebanon, which has no extradition treaty with Japan. He remains a fugitive from Japanese justice.

The post-Ghosn period was turbulent. CEO Hiroto Saikawa resigned in 2019 following a compensation scandal of his own. Makoto Uchida replaced him as CEO in December 2019 and began efforts to rebuild the alliance with Renault and restructure Nissan's operations. In November 2023, Renault and Nissan signed a new alliance agreement that reduced Renault's voting rights in Nissan from 43.4 percent to 15 percent, with the excess shares placed in a French trust with neutral voting. Nissan's stake in Renault was set at 15 percent.

In December 2024, Nissan and Honda announced they were exploring a business integration that would have created the world's fourth-largest auto group by vehicle sales, worth approximately $60 billion. The talks were driven by competitive pressure from Chinese electric vehicle manufacturers. However, the negotiations collapsed in February 2025 after Honda proposed making Nissan a subsidiary rather than an equal partner. Nissan rejected the subordinate structure, and both companies agreed to terminate the memorandum of understanding while continuing strategic collaboration on EVs and software.

In April 2025, Ivan Espinosa replaced Makoto Uchida as CEO. In May 2025, Espinosa announced the Re:Nissan recovery plan, targeting ¥500 billion in total cost savings versus FY2024, a workforce reduction of 20,000 employees, and consolidation of the global manufacturing footprint from 17 to 10 sites by FY2027. The plan aims to achieve positive automotive operating profit and free cash flow by FY2026.

In March 2025, Renault and Nissan agreed to further loosen their alliance, reducing the minimum cross-shareholding requirement from 15 percent to 10 percent. Nissan also agreed to sell its 51 percent stake in their Indian joint venture, Renault Nissan Automotive India Private Ltd (RNAIPL), to Renault, making Renault the sole owner. Nissan was released from its commitment to invest in Renault's Ampere EV unit. In June 2025, CEO Espinosa confirmed plans to reduce Nissan's 15 percent stake in Renault to raise funds for vehicle development.

For FY2025 (year ended 31 March 2026), Nissan reported consolidated revenue of ¥12.01 trillion, down 4.9 percent year over year. Operating income was ¥58.0 billion, down 16.9 percent. The net loss was ¥533.1 billion, an improvement from the ¥670.9 billion loss in FY2024. Free cash flow for the automotive business was negative ¥480.8 billion for the full year but turned positive to ¥112.0 billion in the second half. For FY2026, Nissan forecasts revenue of ¥13 trillion, operating profit of ¥200 billion, and net income of ¥20 billion, which would be its first profit in three years.

Nissan publishes an annual sustainability report covering environmental, social, and governance topics. The company has committed to achieving carbon neutrality across its operations and vehicle lifecycle by 2050. This commitment covers Scope 1, 2, and 3 emissions, including emissions from vehicle use.

Nissan was an early mover in electric vehicles with the launch of the Leaf in 2010. The Leaf became one of the world's best-selling EVs, with cumulative sales exceeding 650,000 units by 2024. However, Nissan's EV strategy lost momentum in the late 2010s as competitors launched more advanced electric models. The company is now investing in next-generation EV platforms, including the Ariya crossover and planned future models under the Re:Nissan plan.

The company's manufacturing operations have implemented energy efficiency measures and renewable energy sourcing. Nissan's Sunderland plant in the UK has been a leader in sustainable manufacturing, powered by renewable energy from wind turbines and solar panels. The company has also invested in battery recycling and second-life battery applications.

Nissan is not a Certified B Corporation. The company's sustainability reporting follows GRI standards and includes CDP climate disclosures.

The Carlos Ghosn scandal is the most significant controversy in Nissan's history. Ghosn was arrested in November 2018 on charges of underreporting his compensation by approximately ¥9 billion over eight years and misusing company funds for personal purposes. The scandal exposed governance failures at Nissan, where excessive power had been concentrated in the chairman's office. Ghosn was detained in Japan for over 100 days before being released on bail. In December 2019, he escaped Japan in a dramatic operation, fleeing to Lebanon via Turkey in a box designed for audio equipment. He remains in Lebanon, which does not extradite its citizens. Japanese authorities have issued an international arrest warrant through Interpol. Greg Kelly, the Nissan director arrested alongside Ghosn, stood trial in Japan and was convicted in 2022 on one count of helping Ghosn underreport compensation, receiving a suspended sentence.

The scandal triggered a comprehensive overhaul of Nissan's corporate governance. The company appointed an independent committee to review its governance practices, resulting in changes to board structure, executive compensation disclosure, and internal controls. Multiple senior executives departed in the aftermath, including CEO Hiroto Saikawa, who resigned in 2019 following a separate compensation-related controversy.

Nissan has faced regulatory scrutiny over vehicle safety and emissions. In 2017, Nissan admitted that uncertified inspectors had conducted final vehicle inspections at its Japanese plants, leading to a recall of approximately 1.2 million vehicles and a public apology from then-CEO Hiroto Saikawa. The scandal damaged Nissan's reputation for quality in its home market.

The company's quality control issues extended to other markets. In the United States, Nissan has been subject to multiple recalls related to Takata airbag inflators, affecting millions of vehicles. The company has also faced class-action lawsuits related to transmission failures in certain models, including the Altima and Pathfinder.

The failed Honda merger talks in early 2025 drew significant public scrutiny. Reports revealed that Nissan's leadership had been divided on the merger, with some executives resistant to the structural changes Honda demanded. The collapse raised questions about Nissan's ability to navigate the industry's transition to electric and autonomous vehicles without a major strategic partner.