Honda, Nissan to announce merger details in mid-February: media

TOKYO -- Honda Motor Co and Nissan Motor Co are set to reveal the specifics of their planned merger in mid-February, Kyodo News cited company officials as saying on Friday.

The two automakers, Japan's second- and third-largest by volume, previously announced plans to merge under a holding company in 2026 and had initially aimed to disclose further details by the end of January.

According to sources familiar with the matter, Honda has been pushing Nissan to accelerate its restructuring efforts. In November, Nissan announced plans to cut 9,000 jobs worldwide and reduce its global production capacity by 20 percent after reporting a more than 90 percent drop in net profit for the April-September period.

Meanwhile, Mitsubishi Motors Corp, a partner of Nissan, had been considering joining the merger but is now leaning toward remaining independent, the report cited other sources as saying.