S/ Mibe Toshihiro, President, Honda Motor: To become a leading force, bold and decisive transformation is necessary.

S/ Uchida Makoto, President, Nissan Motor: If the goal is simply to increase market share in terms of sales, it will be impossible to survive in this once-in-a-century transformational period.

Honda and Nissan announced in a press conference on December 23 that they have signed a basic agreement to explore the possibility of a merger.

The two automakers aim for a final agreement by June 2025.

If the merger is completed, both companies will be delisted in August 2026 and will join a newly listed holding company.

The holding company’s board of directors will be predominantly appointed by Honda, and the president will be chosen from directors nominated by Honda, making it a Honda-led management integration.

Meanwhile, Nissan President Uchida, when asked about his responsibility for the company’s worsening financial situation, said that he had not given up on management reforms and that his mission was to be involved in this process to ensure its success.

In response to questions about the reasons for the merger, Honda’s President Mibe said that the purpose was not to rescue Nissan.

Mitsubishi Motors also attended the press conference and announced that it would decide whether to join the discussion by the end of January 2025.