December 12, 2023
YOKOHAMA, Japan – Following the resolution of the Board of Directors on December 12, 2023. Nissan Motor Co., Ltd. (Nissan) announced the acquisition of its own shares from Renault S.A. (Renault) and the cancellation of its own shares under the provision of Article 165(3) and Article 178 of the Companies Act respectively.
Following Renault’s decision to sell the part of Nissan shares that are held in a French trust, Nissan has agreed to offer and acquire the same by making use of its right of first offer agreed with Renault under the New Alliance Agreement. The transaction takes advantage of Nissan’s solid net cash position.
Nissan has also decided to cancel all the acquired shares to improve the capital efficiency of the company. The cancellation will lower net assets and increase earnings per share, which is expected to improve the price-to-book ratio.
Nissan is committed to enhancing shareholder returns and capital efficiency as well as continuously improving its financial performance and maintaining financial flexibility for future growth.
1. Details of share acquisition
Class of shares acquired
Common stock
Total number of shares acquired
211,000,000 shares
Acquisition cost
¥119,953,500,000
Acquisition date
December 13, 2023
Acquisition method
Purchase through off-auction own share repurchase trading system (ToSTNeT-3) of the Tokyo Stock Exchange
Note: Renault S.A, a shareholder of Nissan Motor Co., Ltd., notified Nissan Motor Co., Ltd. of its intention to offer the number of shares under “(Reference) Details of resolution concerning acquisition of own shares (released on December 12, 2023)” (2) below held in a French trust for repurchase.
2. Details of share cancellation
Class of shares to be cancelled
Common stock
Total number of shares to be cancelled
All shares acquired under 1 above
Scheduled date of cancellation
December 15, 2023
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