Japan Today reported yesterday (February 2) that Honda and Nissan will announce their merger plan in mid-February.

According to the original plan, the second and third largest automotive manufacturers intended to make the announcement by the end of January.

During a press conference held last month, both parties agreed to start discussions to form a new company by 2026.

Honda’s CEO, Toshihiro Mibe, stated that they expect Nissan to take appropriate actions in restructuring as a prerequisite for the merger.

In November, Nissan announced a reduction of up to 9,000 jobs worldwide and a 20 percent cut in global production capacity after the company reported a profit decline of over 90 percent for the period from April to September.

As part of its restructuring efforts, Nissan is also planning to offer early retirement programs for workers at three plants in the United States and to reduce the workforce in Thailand.

Honda appears to be somewhat skeptical and is calling for more drastic measures to ensure Nissan’s successful recovery.

According to another source, Nissan’s alliance partner, Mitsubishi, is less inclined to join the new merged entity.