In a strategic move to enhance shareholder returns and capital efficiency, Nissan Motor Co., Ltd. (Nissan) announced its decision to acquire 195,473,600 shares of its own stock from Renault S.A. (Renault). The acquisition represents 5.03% of Nissan’s total shares, excluding treasury shares, with a transaction cost of approximately 79.85 billion yen.
The transaction stems from Renault’s offer to sell the shares held in a French trust, with Nissan exercising its right of first offer under the New Alliance Agreement between the two companies. The acquisition, scheduled for September 27, 2024, will be conducted through the Tokyo Stock Exchange’s off-auction own share repurchase trading system (ToSTNeT-3).
Nissan has committed to canceling all acquired shares by October 3, 2024, a move designed to boost capital efficiency while preserving the financial resources necessary to support its ongoing business strategy.
This decisive step underscores Nissan’s ongoing focus on maximizing shareholder value as it continues to strengthen its market position.
