Govt Denies Reports on Renault's Plan to Cut Nissan Stake

Politics

Tokyo, Feb. 12 (Jiji Press)--Industry minister Hiroshige Seko on Tuesday denied media reports that Renault SA has notified the Japanese government of a plan to cut its stake in Nissan Motor Co. <7201>.

"There's no such fact," Seko told a press conference.

"I think it's important (for the Nissan-Renault alliance) to be maintained in a stable manner," he added.

Ahead of new Renault Chairman Jean-Dominique Senard's visit to Japan this week, Nissan President Hiroto Saikawa on Tuesday indicated his readiness to work to improve the two companies' relationship, which soured following the arrest of former alliance leader Carlos Ghosn last year.

"First of all, we need to stabilize our relationship," Saikawa said, expressing hopes that Senard will first learn about Nissan for future talks about the alliance.

[Copyright The Jiji Press, Ltd.]

Jiji Press