The French carmaker, which owns 35.71% of Nissan, said the financial hit from the change has no impact on its cash position nor on the calculation of its dividend.

PARIS: French carmaker Renault said on Tuesday (Jul 1) it will report an extraordinary loss of about €9.5 billion (US$11.2 billion) on its stake in Nissan Motor in the first half after changing the way it accounts for the investment.

Renault reported an $11 billion non-cash loss on its 35.7% Nissan stake, shifting to a share price-based accounting method. Nissan's weak sales, outdated lineup, and $4.5 billion loss highlight the strained alliance.