Nissan to Buy Back and Cancel Shares

Nissan Motor Co (JP:7201) has released an update.

Nissan Motor Co. has announced the acquisition and subsequent cancellation of 195,473,600 shares, which represents 5.03% of its issued stock, excluding treasury shares, following a sale offer from shareholder Renault S.A. The shares, valued at approximately 79.85 billion JPY, will be purchased through the Tokyo Stock Exchange’s ToSTNeT-3 system and funded from Nissan’s net cash, with the aim of enhancing shareholder value and capital efficiency. The cancellation of the acquired shares is scheduled for October 3, 2024.

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