Japan, France Not to Meddle Too Much in Nissan Affairs

The Japanese and French governments have agreed not to meddle too much with the alliance between Nissan Motor Co. and Renault SA, Japanese sources told Jiji Press on Sunday. The two governments will watch further progress as rumors are flying around over the future of the alliance after the arrest of former Nissan Chairman Carlos Ghosn, who is still Renault chairman, last week. The understanding was reached at a meeting between Japanese industry minister Hiroshige Seko and his French counterpart, Bruno Le Maire, in Paris on Thursday. Seko and Le Maire confirmed that it is important to continue the Nissan-Renault alliance in a stable fashion, according to the sources. The Japanese side proposed leaving the future of the alliance to the companies involved because it is a matter between private parties, and the French side raised no objection, the sources said. Renault owns 43.4 pct of Nissan, which holds a 15 pct stake in its French partner. Renault's top shareholder is the French government. French President Emmanuel Macron's administration reportedly wants struggling Renault to absorb Nissan to increase Nissan vehicle production in his country. Ahead of the ministerial meeting, some observers raised concern that the French government may step in to steer the course of the alliance. Meanwhile, Nissan reportedly hopes to change the lopsided capital relationship with Renault. Speculation is rife in French media reports that the arrest of Ghosn happened in a coup by Nissan. The two ministers spend half of their time at the meeting on the carmaker alliance and the rest on World Trade Organization reforms and Osaka's bid to host the 2025 World Exposition, the Japanese sources said. END