Nissan to slash annual production output by 15%: report [MarketWatch]
NISSAN MOTOR LTD S/ADR (NSANY)
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nissan-global.com/en/ir
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Source: MarketWatch
Nissan to slash annual production output by 15%: report Nissan Motor Co. 7201, -1.25% shares fell Friday in Japan after a report that it will slash its worldwide output by 15% for the current fiscal year. Nikkei reported the Japanese auto maker is dropping an aggressive expansion plan that former Chairman Carlos Ghosn had supported, and will produce about 4.6 million vehicles in the fiscal year ending March 2020. That would be the lowest output total for Nissan in nine years, Nikkei said. Earlier this year, Nissan cut its operating profit outlook. Ghosn was removed as chairman in November and is currently being held in jail in Tokyo on financial misconduct charges . Nissan shares are down nearly 6% over the past six months, compared to the Nikkei 225 index's NIK, +0.60% 2% decline over that span. Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.
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