UPDATE 1-Nissan slashes full-year results forecast, sees operating loss [Reuters]
NISSAN MOTOR LTD S/ADR (NSANY)
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Source: Reuters
Nissan slashes full-year results forecast, sees operating loss TOKYO (Reuters) - Nissan Motor Co ( 7201.T ) on Tuesday said it expected to post its first annual operating loss in 11 years as the Japanese automaker struggles to recover from plunging vehicle sales as the coronavirus pandemic has sapped demand for cars. In a statement, Japan’s No. 2 automaker said that it expected an annual operating loss of as much as 45 billion yen ($419.7 million), down from a previous forecast announced in February for an operating profit of 85 billion yen. It expects to post a net loss of as much as 95 billion yen, compared with a previous forecast for 65 billion yen profit. Nissan is bracing for its worst financial performance since the 2008 global financial crisis, when it posted an operating loss of 137.9 billion yen. “The company’s performance has continued to decline, primarily impacted by the COVID-19 pandemic,” Nissan said in the statement, adding that it would delay announcing its annual f
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