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Nissan to sell 150 billion yen convertible bonds for recovery

Nissan to sell 150 billion yen convertible bonds for recovery

Business Times2 days ago
[TOKYO] Nissan Motor plans to sell 150 billion yen (S$1.3 billion) of convertible bonds to help fund new chief executive officer Ivan Espinosa's turnaround of the ailing automaker.
The proceeds will be used for investment in new products and technologies such as electrification and software-defined vehicles, the Japanese carmaker said on Monday (Jul 7).
The company, which is facing a huge loan repayment wall next year, is seeking to raise more than one trillion yen from debt and asset sales to keep operations on track, Bloomberg News reported in May.
The stock fell the most in almost three months after the convertible bond sale was announced. The shares fell as much as 5.2 per cent in Tokyo, before paring some of the losses to be down around 3 per cent at 1.04 pm local time. The stock has tumbled about 40 per cent in the past 12 months.
Nissan has sufficient capital of about 2.2 trillion yen in cash on hand and credit to last the next 12 to 18 months, Espinosa told Bloomberg TV in May.
The new CEO has announced plans to eliminate 20,000 jobs and close seven of Nissan's 17 plants by March 2028 after the company reported a 671 billion yen net loss for the most recent fiscal year. The measures follow the collapse of talks earlier this year to join forces with Honda Motor. Those discussions ended in part due to disagreements about Nissan's willingness to make deeper cuts to production and personnel. BLOOMBERG
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Find the right restaurant for every corporate occasion
Find the right restaurant for every corporate occasion

Business Times

time35 minutes ago

  • Business Times

Find the right restaurant for every corporate occasion

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Trump's tariff deadline delay brings hope, confusion to trade partners, businesses
Trump's tariff deadline delay brings hope, confusion to trade partners, businesses

Straits Times

time3 hours ago

  • Straits Times

Trump's tariff deadline delay brings hope, confusion to trade partners, businesses

Sign up now: Get ST's newsletters delivered to your inbox FILE PHOTO: U.S. President Donald Trump delivers remarks on tariffs in the Rose Garden at the White House in Washington, D.C., U.S., April 2, 2025. REUTERS/Carlos Barria/File Photo WASHINGTON - U.S. President Donald Trump's latest tariff delay provided some hope to major trade partners Japan, South Korea and the European Union that deals to ease duties could still be reached, while bewildering some smaller exporters such as South Africa and leaving companies with no clarity on the path forward. Trump's form letters to 14 countries informing them of planned tariff rates of 25% to 40% provided what he called a final warning on his "reciprocal" tariffs, while pushing back Wednesday's previous deadline to August 1, a date he said on Tuesday was final, declaring: "No extensions will be granted." 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From ‘fantastic' to ‘spoiled': How Japan's trade effort to woo Trump backfired
From ‘fantastic' to ‘spoiled': How Japan's trade effort to woo Trump backfired

Business Times

time10 hours ago

  • Business Times

From ‘fantastic' to ‘spoiled': How Japan's trade effort to woo Trump backfired

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