Revised Financial Outlook Reveals Deepening Losses

Nissan Motor Co., Ltd. has significantly revised its financial outlook for the fiscal year 2024, projecting a net loss ranging between ¥700 billion and ¥750 billion (approximately $4.9 billion to $5.3 billion). This adjustment marks a stark contrast to the previously anticipated net loss of ¥80 billion.

Turnaround Plan Costs and Other Factors

The company attributes this revision to the expenses associated with its ongoing turnaround plan, among other factors. Operating profit expectations have also been adjusted downward, from ¥120 billion to ¥85 billion, reflecting the challenges Nissan faces in its recovery efforts.

A Silver Lining Amid Financial Turmoil

Despite these setbacks, Nissan highlights a slight increase in net revenue projections from ¥12.5 trillion to ¥12.6 trillion. The automaker remains confident in its cash position, anticipating to close the fiscal year 2024 with net cash of ¥1.498 trillion yen. The official earnings report, set for release on May 13, will provide further insights into Nissan's financial health.