In another move announced separately, Nissan is selling part of its stake in Mitsubishi back to Mitsubishi. Mitsubishi is acquiring 10 percent of Nissan stock in the company, reducing Nissan's current 34.07% stake in the automaker. The two companies say they'll continue to collaborate.

Things are not rosy at Nissan, with the automaker hoping job cuts and asset sales will bring the company back to profit.

Nissan Motor shares jumped their most in a decade and a half after an activist investor took a stake in the Japanese carmaker in the midst of turnaround efforts.

Nissan Motor shares jumped as much as almost 21% on Tuesday after a filing showed activist investor Effissimo Capital Management had taken a stake in the struggling Japanese automaker.

Shares in Nissan surged as much as 20 per cent on Tuesday, after a fund managed by activist investor Effissimo Capital Management was revealed to have taken a stake in the struggling Japanese automaker.