Key Facts
• June 24, 2025: Nissan held its annual shareholders’ meeting in Yokohama.
• CEO Ivan Espinosa announced plans to close 7 factories and cut 20,000 jobs.
• Nissan reported a massive ¥670.8 billion loss for the fiscal year ending March 2025.
• 1,071 shareholders attended, exceeding usual attendance, with over 3 hours of intense Q&A.
• Delays in new model development and poor sales in the U.S. and China caused struggles.
• Talks of a merger with Honda began in December 2024 but collapsed in February 2025.
• Former CEO Makoto Uchida resigned in March 2025 but declined to address shareholders.
• Nissan plans to close 2 factories in Kanagawa Prefecture and offer voluntary retirement.
• Espinosa stated no final decisions have been made on factory closures.
• Shareholders criticized the lack of clear recovery strategies, with some favoring a Honda merger.
Summary
Nissan CEO Ivan Espinosa reaffirmed his commitment to painful reforms during the company’s annual shareholders’ meeting on June 24, 2025, in Yokohama. The automaker plans to close seven factories globally and cut 20,000 jobs to address its ¥670.8 billion loss for the fiscal year ending March 2025. Shareholders expressed frustration over the company’s poor performance, citing delays in new model development and weak sales in key markets like the U.S. and China. Espinosa emphasized the need for restructuring to restore Nissan’s position but faced criticism for the lack of detailed recovery plans. Talks of a merger with Honda, initiated in December 2024, fell through in February 2025, leading to the resignation of former CEO Makoto Uchida. Nissan is also considering closing two factories in Kanagawa Prefecture and offering voluntary retirement, though no final decisions have been made. Shareholders remain skeptical, with some suggesting that merging with Honda would have been a better path forward.
