Nissan Revises Financial Outlook for 2024

In a surprising turn of events, Nissan Motor Co., Ltd. has significantly revised its financial outlook for the fiscal year 2024. The company now anticipates a net loss ranging between ¥700 billion and ¥750 billion, which translates to approximately $4.9 billion to $5.3 billion.

Reasons Behind the Revised Forecast

The adjustment in the financial forecast is attributed to the costs associated with Nissan's ongoing turnaround plan, among other factors. This marks a stark contrast to the company's previous expectation of a net loss of ¥80 billion.

Operating Profit and Revenue Adjustments

Additionally, Nissan has adjusted its operating profit expectations for the full year 2024 from ¥120 billion down to ¥85 billion. On a brighter note, the company has increased its net revenue projections by ¥100 million, now expecting ¥12.6 billion.

Nissan's Financial Health

Despite the anticipated net loss, Nissan reassures stakeholders of its solid cash position, projecting to conclude fiscal year 2024 with net cash of 1.498 trillion yen. The official earnings report is scheduled for release on May 13.