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Reports: Nissan to post operating loss

Reports: Nissan to post operating loss

Japanese carmaker Nissan Motor Co. is likely to post an operating loss in the current fiscal year, reports said Thursday.
Like many of Japan's exporters, Nissan has been hit by the double blow of falling sales and a strong yen that cuts profits on sales abroad, said the Yomiuri, the nation's top-selling newspaper. Kyodo News agency also reported the company would be in the red.
The company said in a press release Thursday the reports were not based on an official announcement, but did not deny they could post a loss.
In October, Nissan drastically cut its forecasts for the fiscal year through March, slashing its operating profit target to 270 billion yen ($3 billion) from 550 billion yen ($6.2 billion).
An operating loss would mark the first under Chief Executive Carlos Ghosn, the outspoken executive who has led a turnaround at the company, the newspaper said.
Toyota Motor Corp., the nation's top automaker, said about a month ago it is expecting its first annual operating loss in 70 years.
Operating profit is generally seen as the most direct indicator of a company's business performance.


Updated : 2021-07-31 07:29 GMT+08:00