TOKYO: Nissan and Honda shares surged in Tokyo yesterday after the auto giants confirmed they scrapped merger talks and Nissan detailed restructuring plans.
Nissan shares soared 8.17 percent to 449 yen in early trade before easing to 439.5 yen, while Honda shares rose 4.46 percent to 1,498 yen, before easing to 1.487 yen in morning trade.
After market close Thursday, the companies jointly announced the termination of merger talks that would have created the world’s third-largest automaker.
Separately, Nissan said it “plans to optimise its cost structure and reduce fixed and variable costs by a total of approximately 400 billion yen (about RM11.55 billion) in fiscal year 2026”. – AFP
