The struggling Japanese carmaker is withdrawing from talks, the Nikkei business daily and other local media reported.

TOKYO — Nissan is set to call off merger talks with rival Honda, a source said Wednesday, abandoning a $60 billion-plus tie-up that would have created the world's No. 3 automaker and raising questions about how it will drive a turnaround by itself.

The Wall Street Journal reported that Nissan was likely to walk away from a merger proposed in December that would create the world’s third-largest auto maker. It was a