Business Desk 
- Nissan and Honda sign MOU to consider business integration
To further accelerate their efforts toward achieving a carbon-neutral society and a zero-traffic-fatality society, Nissan and Honda signed an MOU on March 15 regarding a strategic partnership for the era of vehicle intelligence and electrification.
Since then, the two companies have held discussions aimed at collaboration in various fields.
On August 1, both companies signed a further MOU to deepen the framework of the strategic partnership.
The companies also announced that they had agreed to carry out joint research in fundamental technologies in the area of platforms for next-generation software-defined vehicles (SDVs), particularly in the areas crucial for intelligence and electrification, to advance focused discussions toward more concrete collaboration.
Throughout the process, Nissan and Honda have engaged in discussions in consideration of various possibilities and options.
At the same time, the business environment for both companies and the wider automotive industry has rapidly changed and the speed of technological innovation has continued to accelerate.
The MOU between Nissan and Honda announced is aimed to serve as an option to maintain global competitiveness and for the two companies to continue to deliver more attractive products and services to customers worldwide.
If the business integration can be realized, both companies can aim to integrate their respective management resources such as knowledge, human resources, and technologies; create deeper synergies; enhance the ability to respond to market changes; and expect to improve mid- to long-term corporate value.
Additionally, Nissan and Honda can aim to further contribute to the development of Japan’s industrial base as a “leading global mobility company”by integrating Nissan and Honda’s four-wheel-vehicle and Honda’s motorcycle and power products businesses, enabling the brands of both companies to become more attractive and to deliver more attractive and innovative products and services to customers worldwide.
Marking the announcement, Nissan Director, President, CEO and Representative Executive Officer Makoto Uchida said: “Today marks a pivotal moment as we begin discussions on business integration that has the potential to shape our future.
If realized, I believe that by uniting the strengths of both companies, we can deliver unparalleled value to customers worldwide who appreciate our respective brands.
Together, we can create a unique way for them to enjoy cars that neither company could achieve alone.”
Honda Director and Representative Executive Officer Toshihiro Mibe said:
“Creation of new mobility value by bringing together the resources including knowledge, talents, and technologies that Honda and Nissan have been developing over the long years is essential to overcome challenging environmental shifts that the auto industry is facing. Honda and Nissan are two companies with distinctive strengths.
We are still at the stage of starting our review, and we have not decided on a business integration yet, but in order to find a direction for the possibility of business integration by the end of January 2025, we strive to be the one and only leading company that creates new mobility value through chemical reaction that can only be driven through synthesis of the two teams.”
the parent company of both companies. This will be subject to approval at each company’s general meeting of shareholders and obtaining necessary approvals from relevant authorities for this business integration, based on the premise that Nissan’s turnaround*1 actions are steadily executed. Both Nissan and Honda will be fully owned subsidiaries of the joint holding company*2.
Additionally, the companies plan to continue coexisting and developing the brands held by Honda and Nissan equally.
- Shares of the newly established joint holding company under consideration are planned to be newly listed (technical listing) on the Prime Market of the Tokyo Stock Exchange (“TSE”). The listing is scheduled for August 2026.
- With the listing of the joint holding company, both Nissan and Honda will become wholly owned subsidiaries of the joint holding company and will be scheduled to be delisted from the TSE. However, shareholders of both companies will continue to be able to trade shares of the joint holding company issued during this share transfer on the TSE.
- The listing date of the joint holding company and the delisting date of both Nissan and Honda will be determined in accordance with the regulations of the TSE.
- Regarding the organizational structure of the joint holding company, and both companies which will become wholly-owned subsidiaries of the joint holding company after the business integration, the optimal structure for realizing synergies, including the integration of R&D functions, purchasing functions, and manufacturing functions, will be discussed and considered within the integration preparatory committee, with the aim of establishing an organizational structure that enables efficient and highly competitive business operations after the business integration.
Schedule for the business integration
| Board of directors’ resolution | December 23, 2024 |
| Execution of the MOU | December 23, 2024 |
| Execution of a definitive agreement concerning the business integration (including the share transfer plan) |
June 2025 (planned) |
| Extraordinary shareholders’ meeting of the companies (resolutions to approve the share transfer) |
April 2026 (planned) |
| Delisting from the TSE | End of July-August 2026 (planned) |
| Effective date of the share transfer | August 2026 (planned) |
