Executive Summary
Nissan, one of the world’s leading car brands, is looking to move the production of the X-Trail from the UK to Japan. Even though the X-Trail is predicted to be popular in the European Union (EU), the risky politics of the United Kingdom’s (UK) Brexit exponentially increased costs of production and trade. This is because of the increased tax and tariffs that the UK imposes on the automotive industry as well as trade to the EU. This report would examine the viability of the location decision by analysing the external and internal environment. The external analysis of Japan would be researched through the PESTEL Model which provides the factors which Nissan needs to consider before relocating the production of the X-Trail. Furthermore, Japan’s competitive landscape would also be examined to determine the direct and indirect competition that is present when production is moved across the world. The internal analysis includes a breakdown of the resources that Nissan owns which would facilitate a smooth relocation of the X-Trail’s production. A SWOT analysis of the firm’s strengths, weaknesses, opportunities and threats are done to consolidate Nissan’s options of addressing its shortcomings by utilizing its strengths. Lastly, Nissan’s prior internationalisation strategy would be accessed and adapted for the current efforts. It is recommended that Nissan relocate the production of the X-Trail to Japan using the horizontal expansion strategy while maintaining the I-model of internationalisation. However, it is also recommended that they utilize existing plants instead of establishing new facilities. This would aid in lowering Japan’s increasing wages and high spatial transaction costs.
Table of Contents
Introduction
Nissan is one of the first automobile companies established in Japan. Over the years, Nissan grew into a global firm, with manufacturing plants in over 16 nations and over 10,000 dealers in more than 160 countries (Nissan Global, 2006). With this, Nissan placed 5th in the world car brand rankings behind Honda and Ford (Focus2move, 2019). This is achieved as Nissan’s used the Innovation-related internationalisation model (I-model) as its international expansion strategy which saw its initial expansion into the UK and the US shortly after World War 2 (WW2) (Nissan Global, 2019; Yan, Wickramasekera & Tan, 2018). Following the model, Nissan lacked intentions to expand internationally until the American economic aid after WW2 acted as an external stimulus, allowing Nissan to expand small portions of its products at a lower cost (Horowitz, 2004). In the 1950s, global plants were established to fill the market of small cars in America and Australia, depicting Nissan’s commitment to active involvement in international operations (Jindal, Jee & Thakur, 2011). For example, the production of the X-Trail in the UK to be exported to surrounding nations such as the EU. Besides, Nissan is motivated by its vision of enriching people’s lives by providing unique and innovative automotive experiences (Nissan Global, 2019). Nissan maintained its values of diversity and inclusion as they believe that embracing the diverse needs of the customers and employees aids Nissan’s sustainable growth and continuous innovation (Nissan Global, 2019).
Recently, the UK’s automotive industry is struggling to keep its footing as Brexit made investments and plans increasingly costly and risky (Jack, 2019). Even though Nissan anticipated that the X-Trail would be a hit in Europe, the post-Brexit climate forced them to reevaluate the costs involved with maintaining production in the UK (BBC, 2019). Many other car manufacturers such as Jaguar and Toyota also expressed their unrest with the uncertain political climate (BBC, 2019). With this, Nissan decided to move production of the X-Trail to Japan. Therefore, this report would discuss the strategic move from the UK to Japan in order to maintain their company’s global standing.
Regardless, this report is limited by the recency of Nissan’s relocation efforts. Despite applying various information from academic sources and Nissan, further developments may contradict such data and analysis. Thus, future research should be conducted to address future developments. This report aims to set out a strategic analysis arguing that Nissan should relocate the production of the X-Trail from the UK to Japan by discussing the external analysis, Nissan’s analysis, and the internationalisation process.
Discussion
External Analysis
External analysis of Japan
Japan would be examined using the PESTEL model which provides a comprehensive view of the external environment (Heischmidt, 2018). Firstly, Japan’s political environment runs under a constitutional monarchy. This means that the emperor is the head of state while the Prime Minister heads the government which can be observed and predicted remain stable (Hiroshi, 2001). This would be beneficial for Nissan as a stable political environment allows for better policies and less risk. Next, Japan’s economic factors show a slow and stable trajectory in Gross Domestic Product (GDP) with it lying between the range of 0.5% to 0.3% in 2019 (Trading Economics, 2019). Even so, the Abenomics strategy implemented by the government aims to speed up economic growth. This strategy, which includes structural and regulatory reforms such as slashing business regulations and cutting corporate taxes, would be highly beneficial for Nissan’s operations (Saizon, 2019).
Socially, Japan’s workforce is reducing as its ageing population increases. This is not ideal for the X-Trail’s production as costs will be higher while efficiency lowers. However, the Abenomics strategy also seeks to increase workforce diversity through the encouragement of female participation thus alleviating this issue for Nissan (Saizon, 2019). In addition, Japan’s technological prowess can be seen as the nation is responsible for 14% of the world’s manufacturing value-added in 2010 and is still going strong today (University of Cambridge, 2010). Automotive is one of the main pillars of Japanese manufacturing amounting 30% of the global market share, thus making it a viable market for X-Trail’s production (University of Cambridge, 2010).
Furthermore, Japan’s strong commitment to corporate social responsibility (CSR) allowed large firms such as Nissan to work with small-medium enterprises to maintain their environment (West, 2014). This not only helps ecologically but also improves their network with potential local supply chains. Lastly, legal factors include regulations set out in the Japan Industrial Standards Committee which aims to set an international standard for various industries (export.gov, 2019). With this, Nissan has to comply with the required certifications and testing of manufacturing plants to proceed with the relocation of the X-Trail’s production.
Competitive Landscape
The relocation efforts from the UK to Japan is encouraged as it has a thriving competitive landscape compared to the UK. This is argued as Japan’s automotive industry is riddled with direct competition from rival car brand titans such as Toyota and Mazda. In contrast, the UK’s Land Rover and Bentley cars depict the market’s favour of luxury cars contrasting with Nissan’s commercial vehicles. Japan is favoured as industry competitiveness encourages innovation, government support and internationalization (Casadesus-Masanell & Ricart, 2010). With this, more resources and R&D capabilities would lie in the nation with the booming industry (Casadesus-Masanell & Ricart, 2010). For instance, Japan’s R&D expenditure is at 3.4% of GDP while the UK stays at 1.7% of GDP (Trading Economics, 2016; Trading Economics, 2016). However, the UK has fewer indirect competitors as their public transport system is outclassed by Japan’s public transits. This can be attributed to Japan’s technological advancements as mentioned in the external analysis above and their small size relative to the UK. Indirect competition to an industry can cause a disruption that forces firms to innovate and diversify, this is especially effective with closer proximity to the indirect competition (Industrialize Management, 1989; Cooper, 1989). Regardless, this indirect competition is not the focal concern for Nissan as the X-Trail’s main market is the EU.
As a firm that has been running strong for nearly a century, Nissan is well into the maturity stages of the business and industry. During this stage, firms have lower product innovation and focus on maintaining their strategic position as a first-mover (Esteve-Pérez, Pieri & Rodriguez, 2017; Peltoniemi, 2013). With this, many firms experience a push motivation to either improve their competitiveness through pricing and innovation or implement a location decision (Tavassoli, 2015; Peltoniemi, 2013). Nissan chose to relocate the manufacturing sector of the X-Trail to Japan is an example of the push motivation by firms in a mature industry life cycle.
The strengths of relocation allow firms to reevaluate the future of their business and choose a location that helps make progress toward their vision and maintain their value (Malik, 2018). Through relocation, firms carry out more R&D to adapt and build distance from disruptive political landscapes (Malik, 2018; Sleuwaegan & Pennings, 2006). For instance, Nissan is able to escape the issues and uncertainty surrounding Brexit in the UK for Japan’s more stable political system. As Brexit has already increased corporate taxes to 19% while the EU faces an increase in tariffs by 5% on automobiles, continuing processes in the nation put the firm at significant risk (PWC, 2019; Hamilton, 2019). Japan’s stable political structure coupled with Nissan’s headquarters being situated in the nation encourages more confidence among the stakeholders of the firm. Nevertheless, the weaknesses of relocating include increased transportation costs and distance from the target market (Lee, Park & Seshadri, 2017). Despite avoiding tougher regulations in the home country, the logistics of the new operating grounds would greatly increase transportation costs (Lee, Park & Seshadri, 2017). By relocating the manufacturing plant halfway across the world, Nissan puts the X-Trail at a disadvantage.
Nissan’s Analysis
Nissan’s Resources
Internal analysis of the firm suggests that Nissan is in a suitable position for relocating the X-Trail’s production through both tangible and intangible resources. By applying a resource-based view, the firm’s capabilities and core competencies can be indicated through its resources (Hoopes, Madsen & Walker, 2003). Two critical aspects of resource-based view have to be met in order for the firm to maintain a competitive advantage which includes resource heterogeneity and resource immobility (Madhok, Li & Priem, 2010).
The tangible resources available to Nissan would include the 9 pre-existing production plants and headquarters across Japan (Nissan Global, 2019). Despite many other firms having this resource, it is heterogenous for Nissan because the production plants use the closed-loop recycling system which refurbishes parts from older models for new cars (Nissan Global, 2019). This model of recycling includes a treatment process which turns old parts into high-quality components for new models (Nissan Global, 2019). According to the VRIO framework, this system is valuable as it allows Nissan to save production costs and achieve CSR simultaneously. Imitation of this model is also costly as firms are required to invest in R&D and resources to carry out the ELV treatment that Nissan applies to maintain the quality of the recycled parts. With this, it can be seen that Nissan’s various manufacturing plants with the closed-loop recycling system is rare in the industry and is deliberately organized to capture value from production costs (Aghazadeh, 2015). For instance, Nissan recovered 166,000 bumpers in 2017 which is refurbished and reused in other vehicles (Nissan Global, 2019). Thus, resource heterogeneity and immobility is obtained as it is diverse and sustainable (Madhok, Li & Priem, 2010). Therefore, this is a priority tangible resource that allows for sustainable competitive advantage.
In addition, the priority intangible resource that Nissan owns is the Renault-Nissan-Mitsubishi Alliance. This alliance allows the three to obtain greater economies of scale in operations and manufacturing (Warner, 2019). This alliance satisfies the VRIO framework because it is valuable for reducing production costs for Nissan but also allows the firm to expand its network for future resources (Hoopes, Madsen & Walker, 2003). Next, the imitation of this alliance would be tough due to the messy nature of such alliances. This is depicted within the Renault-Nissan-Mitsubishi Alliance itself sporting an unfair power balance with Renault holding majority of the stakes (Warner, 2019). The rarity of such alliances also shows the heterogeneity of this intangible resource as it is unique to Nissan and the X-Trail’s manufacturing needs. Besides that, this alliance is also organized for the firms involved to capture the value and compete on equal ground with larger firms. Through this, the alliance collectively owned about 10% of the market share which would be hard to obtain individually (Warner, 2019). This shows the immobility of this resource as it is hard to replicate, hence making it a priority selection for the relocation of the X-Trail and satisfies the resource-based view to achieve sustainable competitive advantage.
SWOT Analysis
The SWOT Matrix provides an overview of the internal and external factors surrounding the location decision by covering the strengths, weaknesses, opportunities and threats that surround the international business (Mate, Trujillo & Mylopoulus, 2015; Verboncu & Condurache, 2016). Through SWOT analysis, the firms are able to understand their advantages and disadvantages before proceeding (Mate, Trujillo & Mylopoulus, 2015).
Firstly, Nissan’s strengths which enable a smooth relocation includes their low manufacturing costs. This can be attributed to the use of their closed-loop recycling system and the alliance with Renault and Mitsubishi (Nissan Global, 2019; IG Group, 2019). Moving the X-Trail’s production back to Japan aids in maintaining the relatively lower production costs by escaping the increased taxes that are synonymous with Brexit. Another strength of Nissan is its strong presence in the automotive market. This is evident in Nissan’s continuous investments into the EU despite the lack of stable footing in the UK. For instance, Nissan’s investment in electric vehicles in the EU which became the best selling car in the nation in 2018 (Frangoul, 2019).
Nissan’s weaknesses include poor marketing and advertising capabilities compared to rival firms. For example, Nissan expended $1.14 billion in marketing for 2015 while Ford allocated $2.68 billion (McGavin, 2016). This caused brands such as Honda to overtake Nissan in the brand rankings from 2018 to 2019 (Focus2move, 2019). Nissan’s brand awareness extends to its heritage but can be further bolstered by better marketing campaigns for the X-Trail. Marketing and brand management is used to form an image of the product to the market (Auh & Merlo, 2012). This helps the X-Trail to build a unique image for the target market and replace its reputation as “Nissan’s strike against Brexit” (Auh & Merlo, 2012). Nissan’s previous recall of vehicles in around the world, due to various issues with the brake fluid and airbags, is also a weakness because it is financially costly for the firm and the brand’s image (CNBC, 2018). Brand management around this issue and better explanation about using recycled materials in their builds should be properly addressed and explained.
The opportunities present for Nissan would be the trade agreement between Japan and the EU in 2018 known as Economic Partnership Agreement (EPA) (EU-Japan Centre, 2018). This agreement lowers trade and investment costs between the two nations which is beneficial as the cost of exporting the X-Trail from Japan to the EU would be cheaper. Furthermore, Japan’s economy is being stimulated through Abenomics and creating more opportunities (Bon-Kwan, 2013). The fiscal policies and structural reforms such as improvement on infrastructure and market expectations allow Nissan to grow further (Fukuda, 2015). This is an opportunity for Nissan to tap into the resources and benefits that Japan’s government is providing to encourage trade and foreign investments.
The threats that Nissan faces in Japan would be a stronger competition. As Japan is home to many established car brands and technological innovations, Nissan has to innovate and adjust the X-Trail’s production to stay competitive (Cooper, 1989). The rising wage rates in Japan is another threat faced by Nissan. As the government impose more policies to increase economic growth, wage rates would rise as well. This causes the operational costs of producing the X-Trail to rise (Fukuda, 2015; Paus, 2012). Regardless, the treats and weaknesses faced by Nissan are still manageable if proper contingencies are put in place.
Nissan’s Internationalisation Process
Internationalisation Process
The internationalisation process that was applied by Nissan until today was the I-Model. This is because they are now in the committed involvement stage where more than 10% of their goods are exported globally (Yan, Wickramasekera & Tan, 2018). Thus, relocating the production plant to any nation would not change its international business model. With that said, the EPA agreement between the EU and Japan makes it a viable location for horizontal expansion into Japan. Horizontal expansion of a firm involves expanding Nissan’s current operations in the UK directly to Japan (Hardy, Saas & Fifekova, 2011). Horizontal direct investments are suitable for expansion into nations with similar or better capabilities (Omelanczuk, 2013) As the X-Trail’s production is under stage 3 of the industry stream, manufacturing and final assembly, doing the same in Japan would be ideal. This is because Nissan would be able to tap into the R&D sector and component goods for the X-Trail from its existing plants in Japan. Nissan would also be able to take advantage of Japan’s economic policies which encourage R&D and foreign direct investments. Having a forward vertical expansion would not be ideal as the target market for the X-Trail is still the EU.
By sticking to this model to meet the requirements of X-Trail’s target market, Nissan is required to face threats of rising wage and transaction costs. As the main exports of the X-Trail from Japan would be to the EU, the horizontal expansion would bring about spatial transaction costs (Aguilera, Flores & Kim, 2015; Kinra, 2015). The spatial transaction cost arises when crossing regional borders, which increases with the distance from the source to the destination (Aguilera, Flores & Kim, 2015). The risk involved with transporting the X-Trail across the world would also be a cause of concern for Nissan. Actions such as exporting the X-Trail from Japan into the EU is often a deterrent for many firms and would rather choose a different internationalisation strategy such as the Uppsala model (Kinra, 2015). Firms that engage in the Uppsala model of internationalisation would have lower spatial transaction costs as the firm would first expand to close and similar nations before moving further (Coviello, Kano & Liesch, 2017). This gradual expansion is not present with the I-model that Nissan applied as the location decision relies on expanding sales and production based on nations that would bring benefits in an increasing amount (Yan, Wickramasekera & Tan, 2018). With this, Nissan would still be required to produce and transport a high amount of the X-Trail to meet target market demands which significantly increases the costs. Nevertheless, the rising wage rates of Japan is also a threat to this internationalisation process because it further increases the cost of production for Nissan. Regardless, Nissan would be able to manage the increased costs through the EPA and alliance with Renault and Mitsubishi. Thus, showing that the relocation is still a wise decision to escape the risks and political instability of the UK.
Recommendations
It is recommended that Nissan should relocate the production of the X-Trail from the UK to Japan as the stable politics and economy would allow future investments to be made with greater confidence. However, a new manufacturing plant is not necessary as Japan is already home to many of Nissan’s existing plants. This would significantly lower the operations costs of the firm that can be allocated to address the other limitations. The main limitation faced with this relocation would be the increased spatial transaction costs due to the greater distance between Japan and the EU as compared to the UK. Despite this increase in costs, Nissan should not change its internationalisation process to the Uppsala model as it is already in the mature stage of its business. Not only that, changing the strategy would cause Nissan to lose out on the X-Trail’s main market and the missed opportunity of the EPA between Japan and the EU. Therefore, the suggestion would be to utilize the funds saved from establishing a new plant for the transaction costs. Besides that, it is also important for Nissan to invest more in marketing and brand management. This is due to their tainted reputation with the large recalls in 2018 and gain favourability that compares to Toyota or Honda. This is also beneficial for the X-Trail as the car is now associated with Brexit rather than the car as a means to enrich lives. To replace the negative association with this car, a marketing campaign with a positive image can be used.
Conclusion
To conclude, the production of the X-Trail should be relocated to Japan as the stable political climate and the government’s active involvement in boosting the economy depicts a less risky location for future operations. Even though the nation’s wage rates and competition is high, Nissan would still be able to compete on equal footing as they already have an established brand in Japan. By utilizing its physical resources of existing manufacturing plants and the closed-loop recycling system, the cost of production of the X-Trail can be reduced significantly. This is further compounded by the Renault-Nissan-Mitsubishi alliance which allows the three firms to gain economies of scales in production. The saved cost can now be allocated to covering the spatial transaction costs as the X-Trail’s target market lies in the EU. Moving the X-Trail’s production to Japan is also beneficial as the EPA between Japan and the EU has allowed for trade between the two nations to be cheaper. Thus, Nissan should opt for the more politically stable nation with existing resources such as Japan for the relocation of the X-Trail’s production.
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