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Japanese automaker Nissan says losses deepened in the last quarter
Nissan plans to cut 20,000 jobs and close seven factories as it faces a $4.2 billion net loss for the fiscal year ending March amid tariff and sales pressures.
- On Thursday, Nissan Motor Corp., based in Yokohama, reported a 28.3 billion yen net loss for the October-December quarter, about twice the 14 billion yen loss a year earlier.
- Restructuring costs cut into profitability, the company said, with Chief Executive Ivan Espinosa noting such expenses occur during restructuring; Nissan also faced headwinds from U.S. tariffs and possibly softening electric vehicle demand, analysts say.
- Regional results show the U.S. market sales fell 3.7% while China market sales rose 12.7% thanks to new electric vehicle models.
- It projects a 650 billion yen net loss for the year through March and plans seven factory closures with 20,000 job cuts worldwide.
- The company sharply lowered its forecast for its operating loss to 275 billion yen, citing accelerated restructuring under Nissan's leadership last year.
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21 Articles
21 Articles
Nissan says losses deepened in last quarter
Japanese automaker Nissan Motor Corp reported deeper losses for the latest quarter through December compared to a year earlier, as restructuring costs cut into its profitability. Nissan, based in the port city of Yokohama, said Thursday it posted a 28.3 billion yen ($185 million) loss for the October-December quarter, about…
·Sakado, Japan
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Company projects an annual net loss of US$ 4.2 billion due to restructuring costs
·Brazil
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Coverage Details
Total News Sources21
Leaning Left5Leaning Right1Center5Last UpdatedBias Distribution46% Left, 45% Center
Bias Distribution
- 46% of the sources lean Left, 45% of the sources are Center
46% Left
L 46%
C 45%
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