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Japanese automaker Nissan reduces red ink and vows to return to profit for the full year
The automaker also kept its full-year profit goal as sales rose 8.8% on a weaker yen and higher pricing.
- On Wednesday, Nissan reaffirmed its promise to turn profitable for the fiscal year through March 2027, projecting a net profit of 20 billion yen after trimming losses during the first half.
- Losses at Yokohama-based Nissan totaled 39.7 billion yen for the April-September period, significantly smaller than the 221.9 billion yen red ink reported last year, while sales rose 8.8% to 6.07 trillion yen.
- Production in Kumamoto, Japan, was halted by an earthquake earlier this year, and ongoing unrest in the Middle East raised raw material costs and blocked shipments, complicating recovery efforts.
- "The second half offers real opportunities to make progress," said Chief Executive Ivan Espinosa, stressing that model launches will build on recovery momentum, with a new business plan announced in February next year.
- Nissan shares slipped 1.5% in Wednesday trading as the company maintains strategic alliances with Renault and Mitsubishi Motors Corp., plus a technology partnership with Honda Motor, to stabilize performance.
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Nissan reduces its losses thanks to its savings plan, but continues in red numbers
·Madrid, Spain
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Associated Press News+4 Reposted by 4 other sources
Japanese automaker Nissan reduces red ink and vows to return to profit for the full year
Japanese automaker Nissan has trimmed its losses over the first fiscal half, compared to the previous year, and reaffirmed its promise to turn profitable for the full year.
·New York, United States
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Total News Sources24
Leaning Left4Leaning Right1Center6Last UpdatedBias Distribution55% Center
Bias Distribution
- 55% of the sources are Center
55% Center
L 36%
C 55%
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