Struggling truck maker Nissan Diesel Motor Co. announced Tuesday a new restructuring plan that calls on Nissan Motor Co. and its three main banks to provide a 106 billion yen bailout.
Nissan Diesel President Iwao Nakamura said the main banks -- Mizuho Corporate Bank, Resona Bank and Mizuho Trust and Banking Co. -- agreed to swap debts worth 90 billion yen for Nissan Diesel preferred shares.
Nissan Motor -- one of Nissan Diesel's equal-largest shareholders, with a 22.5 percent stake -- agreed to forgive 16 billion yen in debts in return for its preferred shares, he said.