Nissan, Renault, Mitsubishi Heads to Meet Press Tues.

Economy

Tokyo, March 11 (Jiji Press)--Nissan Motor Co. <7201> said Monday that it will hold a joint press conference Tuesday afternoon with its allies, Renault SA and Mitsubishi Motors Corp. <7211>, to be attended by the three companies' top leaders.

The executives, including Nissan President Hiroto Saikawa and Renault Chairman Jean-Dominique Senard, will explain the establishment of a new body to discuss their alliance strategy.

The three companies will change their system in which power was concentrated in the hands of Carlos Ghosn, who served as chairman of the three. The trio hopes to manage the alliance by mutual agreement.

The press conference in Yokohama, near Tokyo, will be also attended by Renault Chief Executive Officer Thierry Bollore and Mitsubishi Motors CEO Osamu Masuko. Nissan and Mitsubishi will each hold a board meeting Tuesday before the press conference.

The new body, likely to be headed by Senard, is seen discussing working-level issues such as parts procurement, and research and development, in addition to ways to strengthen the alliance. Nissan, however, has refused talks on business integration.

[Copyright The Jiji Press, Ltd.]

Jiji Press