Nissan and Honda sign memorandum of understanding to start merger talks

On December 23, Nissan Motor and Honda Motor officially signed a memorandum of understanding to prepare to start merger negotiations, planning to achieve business integration of the two major Japanese automakers by establishing a joint holding company. The newly established holding company will serve as the parent company of the two companies, and Honda and Nissan will be included as subsidiaries. Honda plans to nominate a majority of internal and external director seats in the new holding company, and the president and CEO will also be selected from the directors nominated by Honda. It is expected that in June next year, the two parties will sign a final agreement on business integration, including a share transfer plan. In addition, in August 2026, the new holding company plans to be listed on the Tokyo Stock Exchange, and Honda and Nissan will be delisted accordingly.