Financial Outlook Revised

Nissan Motor Co., Ltd. has significantly revised its financial outlook for the full fiscal year 2024, now anticipating a net loss ranging between ¥700 billion and ¥750 billion (approximately $4.9 billion to $5.3 billion). This marks a substantial deviation from its previous forecast of an ¥80 billion net loss.

Turnaround Plan Costs

The company attributes this revision to the costs associated with its ongoing turnaround plan, among other factors. Additionally, Nissan has adjusted its operating profit expectations downward from ¥120 billion to ¥85 billion for the year.

Revenue and Cash Position

Despite these challenges, Nissan has raised its net revenue projections from ¥12.5 trillion to ¥12.6 trillion. The firm remains optimistic about its cash position, expecting to conclude fiscal year 2024 with net cash of ¥1.498 trillion.

The official earnings report is scheduled for release on May 13, providing further insights into the company's financial health and strategic direction.