Nissan Pressure Grows With Second Activist Reported to Buy Stake
- Oasis also holds a minority stake in Nissan, local report says
- Sinking profits, sales saw Nissan launch restructuring plan
Speculation over a second activist hedge fund holding shares in Nissan Motor Co. added to the Japanese carmaker’s headaches, a little over a week after sinking profits and sales forced it to launch a last-ditch recovery plan.
Nissan’s financial woes were quick to draw the attention of Effissimo Capital Management Pte, a Singapore-based group that’s one of Japan’s most influential activist investors. Nissan on Thursday last week lowered its full-year operating income outlook by 70% and announced plans to cut jobs and slash production capacity.