Negotiators from Japanese automaker Nissan and its French partner Renault are waiting for their boards of directors to approve an agreement that would restructure their capital relationship.

Nissan has been negotiating for a partnership of equals.
Renault currently holds 43 percent of Nissan's shares. The Japanese automaker's stake in Renault is only 15 percent.

NHK has learned that the agreement will likely include Renault reducing its Nissan stake to 15 percent. Sources say the plan is to temporarily entrust the shares to a separate company and sell them in phases.

Under the deal, Nissan would acquire a maximum stake of 15 percent in a new EV company that Renault is planning to establish. The exact percentage or amount of the investment is not specified.

The sources say the Nissan and Renault managers have agreed on the deal's overall framework. It would be finalized once the boards give their approval.