Nissan shareholders reject proposal to designate Renault as parent

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TOKYO (Reuters) – Japan’s Nissan Motor Co Ltd on Tuesday rejected a shareholder proposal at its annual general meeting (AGM) that would have led to the disclosure of a decades-old agreement with 43% stakeholder Renault SA. Ahead of the AGM, one investor proposed designating Renault as Nissan’s parent company which by law would force the publication of the agreement which stipulates the automakers’ capital and business alliance. Lack of publication prevents shareholders discussing the alliance which consequently remains “unequal”, the investor said. Nissan owns only a 15% non-voting stake in Re…

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