URGENT: Nissan eyes 60 bil. yen net loss in FY 2021

Economy

Nissan Motor Co. said Tuesday it expects a net loss of 60 billion yen ($551 million) for the current business year through next March, the third straight year of red ink despite sweeping restructuring. The automaker reported a net loss of 448.70 billion yen for fiscal 2020 due to slumping vehicle sales. Nissan's loss shrank from the 671.22 billion yen in fiscal 2019, but the automaker still faces an urgent need to continue with its restructuring by departing from the past expansion strategy pursued by former boss Carlos Ghosn who was ousted in 2018 following his arrest over alleged financial m...

Kyodo News

Kyodo News