Japanese automakers Honda, Nissan and Mitsubishi said Thursday they are dropping their talks for a business integration.

The automakers agreed to end their agreement regarding the consideration of the structure for a collaboration of the trio, their joint statement said.

Honda Motor Co. and Nissan Motor Corp. announced in December that they were going to hold talks to set up a joint holding company.

Mitsubishi Motors Corp. had said it was considering joining that group.

From the start, the effort had analysts puzzled as to the advantages to any of the companies, as their model lineups overlap.

Other details as to why the talks unravelled weren't immediately available.