Nissan Motor executives held a board meeting on Wednesday to discuss Honda Motor's offer to acquire its shares and make it a subsidiary. Sources say many expressed opposition, leaving the future of the merger talks unclear.

The Japanese automakers have been in talks since December. They initially said they would set up a joint parent company.

But Honda recently changed the terms and proposed making Nissan a subsidiary. This has led to a gap in the talks. Nissan has consistently stressed its desire for a partnership on equal terms.

The two automakers plan to decide by around mid-February whether to proceed with the negotiations.

Future talks would take into account Nissan's progress in restructuring its business amid worsening performance.