Renault, which holds approximately 36 percent of Nissan shares but only 15 percent of voting rights, plans to abstain from votes on the reappointment of Motoo Nagai and the nomination of Junichi Shinbo at Nissan's upcoming shareholders meeting. Both nominees are former Mizuho Financial Group bankers, and Mizuho is Nissan's largest creditor while the company carries ¥4.4 trillion in debt rated as junk. Nagai, age 72, has served on multiple Nissan committees and was involved in events surrounding the 2018 ouster of Carlos Ghosn.