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Non-Tech : Nissan Motors (NSANY) -- Ignore unavailable to you. Want to Upgrade?

To: EPS who wrote (117)	7/29/1999 6:55:00 AM
From: EPS	Read Replies (1) \| Respond to of 124

89% up so far this year and the restructuring continues.. DJ Nissan Shrs Higher After Cell Phone Units Sale Report TOKYO (Nikkei/Dow Jones)--Shares of Japanese carmaker Nissan Motor Co. (NSANY or 7201) continued to rise Thursday morning in Tokyo, following a report that the company will likely sell most of the stakes it holds in cellular phone service providers. At the midday break on the Tokyo Stock Exchange, Nissan Motor is up Y10, or 1.5%, at Y699. The stock earlier rose to Y724, its highest since October 1997. Morning volume ranked second on the bourse, at 10.3 million shares. The Nihon Keizai Shimbun reported Thursday morning that Japan Telecom Co. (J.JTC or 9434) would buy most of the shares Nissan holds in six Digital Tu-Ka mobile phone operators. The newspaper also said that in a separate deal, DDI Corp. (J.DDD or 9433) is wrapping up negotiations with Nissan to buy controlling stakes in its three other cellular phone affiliates. The report makes it clearer that Nissan is heading for drastic restructuring, said a trader at Daiwa Securities SB Capital Markets. Nissan stock had gained momentum recently on growing hopes for the automaker's benefits from its tie-up with Renault SA (F.RNA). (END) DOW JONES NEWS 07-28-99 ========================== 0016 GMT - Nissan Motor Co [7201.T] up 29 yen or 4.21 percent at 718. The stock has been rising this week on a string of news including a Japanese business article on Wednesday saying it and French partner Renault SA [RENA.PA] are planning to start joint procurement of car parts and materials in Europe as early as 2000 to cut costs. ((Tokyo Equities Desk +81-3 3432 9404 =========================== Nissan to sell powder metallurgy to Hitachi unit TOKYO, July 29 (Reuters) - Nissan Motor Co Ltd [7201.T] said on Thursday it would sell the powder metallurgy business at its Yokohama plant to Hitachi Powdered Metals Co Ltd [5944.T]. The value of assets being transferred on October 1 is estimated at about 1.5 billion to 1.6 billion yen. Nissan produces 500,000 to 600,000 parts a month, including camshaft sprockets and crankshaft sprockets, using the powder metallurgy facilities. ((Tokyo Equities Desk +81-3 3432 9404 tokyo.equities.newsroom@reuters.com)) REUTERS Rtr 03:24 07-29-99 ========== Related Stories: 1 2 3 DJ Japan Telecom/Tu-Ka Purchase -3: DDI Undecied On Tu-Ka A DDI spokesman said later Thursday that his company is considering whether to buy stakes in the Tu-Ka cellular companies, but he said nothing has been decided specifically. (END) DOW JONES NEWS 07-28-99