Nissan to Report 90 Pct Operating Profit Drop in April-June

Economy

Tokyo, July 24 (Jiji Press)--Japan's Nissan Motor Co. <7201> is expected to report a 90 pct fall in April-June consolidated operating profit from a year before, it was learned Wednesday.

In the same quarter last year, the automaker posted an operating profit of 109.1 billion yen.

Nissan is performing poorly chiefly due to falling vehicle sales in the United States, a key market for the automaker.

To accelerate its reconstruction, the company will announce a plan to slash some 10,000 jobs in total, up sharply from the existing plan to shed 4,800 jobs announced in May.

Main targets of the additional job reduction will be European and Asian operations with low profitability.

[Copyright The Jiji Press, Ltd.]

Jiji Press