Shares in Japanese automaker Mitsubishi Motors plunged nearly nine percent Friday after a report said it might not join a planned merger between industry giants Honda and Nissan.

Mitsubishi Motors hasn’t made any announcements and is considering all options, a spokesperson for the company said.

Japan's Mitsubishi Motors, a junior partner of Nissan Motor, is considering not joining a planned business merger between Nissan and Honda Motor, sources told Reuters on Friday. Mitsubishi Motors plans to remain listed while continuing its cooperative relationship with both companies,