Ghosn, the executive vice-president whose cost-cutting plan at Renault over the past three years earned him the nickname `Le Cost Killer,' said the Japanese auto maker can improve in many areas, particularly in the procurement of parts. Renault bought a 36.7% stake in Nissan earlier this year for $5.4 billion.

``It is very likely we will move to a system where the importance of subsidiaries and affiliates [of Nissan] will be [less],'' when Nissan buys parts, Ghosn said. Global suppliers will be able to provide parts to Nissan as long as they meet certain quality and cost standards, he said.

When asked if the French auto maker has enough power to influence decisions at Nissan, Mr. Ghosn said top management at both companies is committed to turning Nissanaround.

Nissan had a net loss of 27.7 billion yen ($232.8 million) for the year ended March 31, compared with a loss of 14 billion yen last year. The company predicts an even wider loss, of 60 billion yen, for this fiscal year. But it cut interest-bearing debt in the last fiscal year by about $3.3 billion to about $17 billion, and it expects to further reduce debt this year.

Ghosn said Friday that the first step will be to return Nissan to profitability as soon as possible, and then decide the best way to increase the bottom line.

Meanwhile, Nissan expressed it wants to acquire an equal stake in Renault ``as soon as possible.''

``On the basis of reciprocal relations, Nissan wishes to buy a stake in Renault equivalent to the one Renault has in Nissan,'' Nissan Chairman Yoshikazu Hanawa said after Renault's annual shareholder meeting on Thursday.Renault said that while cross-shareholding was envisaged in alliance negotiations with Nissan late last year, the company hasn't assigned a potential stake forNissan, nor agreed to an acquisition date.

The Wall Street Journal