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The Japanese auto industry used to draw strengths from its decades-old keiretsu system - a hierarchical pyramid of equity-interlocked suppliers with automakers sitting atop and ensuring business security.

Automakers might not be able to support all kinds of keiretsu companies anymore, Terasaka said, adding that he anticipated changes to how the keiretsu system operated.

The powerful trading houses are some of Japan’s oldest and biggest companies and the anchors of vast industrial groups called keiretsu.

After cutting 21,000 jobs, or 14 percent of the workforce, shutting some local plants and dismantling Nissan’s “keiretsu” group companies, Nissan hits its goals a year ahead of schedule.

After cutting 21,000 jobs, or 14 percent of the workforce, shutting some local plants and dismantling Nissan’s “keiretsu” group companies, Nissan meets its goals a year ahead of schedule.