Don’t underestimate the pride of an ailing company. After signing a memorandum of understanding in late December to “consider” a merger with Honda, a source told Reuters that Nissan is backing out of the discussion.

Nissan and Honda stated on Wednesday that discussions on various options, including ending merger talks, are still in progress. Ending talks would cost Nissan ¥100 billion, or $657 million.

Since the dramatic downfall of “Cost Killer” chief executive Carlos Ghosn in 2018, Japan’s Nissan Motor Co. has labored with weak sales and an outdated model lineup.