Nissan slashes capacity by a fifth after first loss in 11 years By Reuters

© Reuters. The logo of Nissan is seen on a car through a fence at Nissan factory at Zona Franca during the coronavirus disease (COVID-19) outbreak in Barcelona

TOKYO (Reuters) – Nissan (OTC:) Motor Co (T:) said on Thursday it would slash its production capacity by a fifth to help reduce its fixed costs by 300 billion yen ($2.8 billion) as it looks to become a smaller, more cost-efficient automaker following a slide in sales.

The Japanese company said its new four-year plan aims to ensure steady growth as opposed to the excessive expansion of the past. The announcement came after Nissan posted an operating loss of 40.5 billion yen ($376 million) for the year ended March, its first loss in 11 years.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Be the first to comment

Leave a Reply

Your email address will not be published.


*