Nissan Shareholders Voice Discontent as Earnings Remain Sluggish

Yokohama, June 23 (Jiji Press)–Shareholders of Nissan Motor Co. expressed strong dissatisfaction at an annual general meeting on Tuesday as the Japanese automaker’s earnings and stock price remain sluggish despite restructuring efforts under new management. At the meeting, held at the company’s headquarters in Yokohama, south of Tokyo, the company proposed the appointment of 12 directors, including President and CEO Ivan Espinosa. However, shareholders rejected the reappointment of Motoo Nagai, who formerly worked at Mizuho Financial Group Inc., Nissan’s main bank, due to doubts about his independence. The other 11 directors were approved. Espinosa voluntarily returned a portion of his executive compensation. At the start of the meeting, Espinosa said that the company has focused on implementing its business revitalization plan and has made steady progress despite ongoing uncertainties. He indicated that it will release a medium-term management plan in the second half of fiscal 2026. However, shareholders criticized the management for the significantly dropped stock price and questioned the president’s management capabilities. A shareholder in his 70s told Jiji Press before the meeting that the stock price has been “too low to sell” and complained that, while shareholders have not received dividends in recent years, company executives have received compensation. Nissan has been mired in a tough management situation, partly due to additional tariffs imposed by U.S. President Donald Trump’s administration and sluggish sales both in Japan and overseas. For fiscal 2025, which ended in March, the company posted a massive annual net loss for the second consecutive year. To achieve a turnaround, the company is reviewing its investments in electric vehicles to shift its focus to hybrid vehicles, which are becoming popular in the United States. END [Copyright The Jiji Press, Ltd.]