Nissan Group

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Nissan, or Nissan Group (nichiyo-kai) was one of Japan's most powerful business groupings, called keiretsu, founded by Yoshisuke Aikawa. Its core business was real estate and insurance, with hundreds of member companies, including fisheries, mining, and is affiliated with Hitachi companies. Although Nissan was primarily known for its car manufacturing outside of Japan, Nissan Motors was a comparatively small side business compared to its core real estate business, until the real estate crash of early 1990s (see Japanese asset price bubble), which dealt a devastating blow to the Nissan Group. Renault SA of France bought a 38.8% stake for $5.4 billion in the Tokyo-based automaker in 1999 and installed Chief Executive Carlos Ghosn of Brazil. Nissan Motors (Nissan Jidosha KK) successful turnaround was attributed by CEO Ghosn to his ability to detach from Nissan keiretsu connections and eliminate 23,000 jobs from the Japanese workforce. Nissan is short for Nippon Sangyo, which literally means "Japan Industries".

[edit] Member Companies

[edit] Reference

[1] On Nissan's threatened departure from Los Angeles.