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Nissan to end production at Japan's Oppama factory by March 2028
Nissan to end production at Japan's Oppama factory by March 2028

Time of India

time15-07-2025

  • Automotive
  • Time of India

Nissan to end production at Japan's Oppama factory by March 2028

Nissan Motor Co will stop producing vehicles at its Oppama plant in Japan by March 2028 and transfer operations to its factory in the southern prefecture of Fukuoka as part of a global restructuring plan to cut capacity, it said on Tuesday. Japan's third-largest automaker will also cease production at Nissan Shatai's Shonan factory that builds light commercial vehicles by March 2027, CEO Ivan Espinosa said. Espinosa has announced sweeping plans aimed at turning around the embattled automaker, including slashing global production capacity to 2.5 million vehicles from 3.5 million and manufacturing sites to 10 from 17. Reuters reported last week that Nissan was in talks to allow Taiwan's Foxconn to use the Oppama factory, in the port city of Yokosuka, south of Tokyo, to produce EVs and avert a closure. "It was a difficult decision for both myself and the company," Espinosa told reporters at the automaker's headquarters in Yokohama. "However, we believe it is necessary for Nissan to overcome its current challenging situation." Live Events Espinosa said Nissan was exploring various options for repurposing the assets in negotiations with "multiple partners", declining to elaborate, citing confidentiality agreements. Costs related to the transfer of production to Nissan Motor Kyushu will be disclosed along with first-quarter financial results, Nissan said. When the Oppama factory opened in 1961, it was one of Japan's first large-scale auto factories and a symbol of Nissan's - and Japan's - global ambitions. Long referred to as Nissan's "mother factory", it employs 3,900 workers and has produced more than 17.8 million vehicles to date. Other facilities and functions in the district such as the Nissan Research Center and a crash-test facility will be unaffected, Nissan said. Espinosa said that about 2,400 workers from the Oppama factory could be transferred to non-factory functions or to other plants. Battered by declining sales in the United States and China, Nissan faces large debt repayments and mounting losses. Espinosa said factory utilisation at Nissan's domestic factories remained low, at an average of 60%. Once production from Oppama moves to Nissan Motor Kyushu, utilisation would rise at the latter to 100%, he said.

Nissan says Oppama plant will stop production by end of FY2027/28
Nissan says Oppama plant will stop production by end of FY2027/28

Yahoo

time15-07-2025

  • Automotive
  • Yahoo

Nissan says Oppama plant will stop production by end of FY2027/28

TOKYO (Reuters) -Nissan Motor Co will cease vehicle production at its Oppama plant in Japan by the end of March 2028 and transfer operations to its factory in Kyushu, the company said on Tuesday. The move is part of its global restructuring plan to reduce production capacity to 2.5 million units from 3.5 million and consolidate production sites to 10 from 17, it said in statement. The costs related to the plant closure are under assessment and will be disclosed during Nissan's first-quarter financial announcement. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Nissan raises ¥860 bil in bond issuance to fund turnaround effort
Nissan raises ¥860 bil in bond issuance to fund turnaround effort

Japan Today

time11-07-2025

  • Automotive
  • Japan Today

Nissan raises ¥860 bil in bond issuance to fund turnaround effort

Nissan Motor Co said Friday that it has raised about 860 billion yen through a bond issuance to repay debt and invest in electric vehicle development and other initiatives aimed at sparking a turnaround. The struggling Japanese automaker, undergoing massive restructuring in response to poor sales in the United States and China, said the bond issuance will help "further enhance liquidity in its automotive business to support medium- and long-term strategies." Of the total amount raised, about 660 billion yen came from the issuance of debt in the form of U.S. dollar- and euro-denominated bonds, and 200 billion yen from convertible bonds, which allow holders to convert them into shares under certain conditions. The funds will be used to pay off debt that is maturing in fiscal 2025 and to invest in new products and technologies such as vehicle electrification and digitalization, Nissan said. © KYODO

Nissan Motor Raises $1.4 Billion From Sale of Convertible Bonds
Nissan Motor Raises $1.4 Billion From Sale of Convertible Bonds

Bloomberg

time09-07-2025

  • Automotive
  • Bloomberg

Nissan Motor Raises $1.4 Billion From Sale of Convertible Bonds

Nissan Motor Co. has raised ¥200 billion ($1.4 billion) from the sale of bonds convertible into stock, according to terms of the deal seen by Bloomberg News, as the ailing Japanese carmaker seeks funds to keep its operations on track. The convertible bonds carry a coupon of 1% a year, payable semiannually, and mature in 2031, the company said in a filing. The instrument has an initial conversion price of ¥397.2, representing a premium of 30% above Nissan's closing share price on Wednesday.

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