Nissan said it will post a net loss of as much as ¥750 billion ($5.3 billion) for the fiscal year that ended in March as restructuring charges weigh on the struggling carmaker that’s seeking a turnaround.
Analysts were projecting, on average, a loss of ¥112 billion, which itself was worse than Nissan’s prior outlook for a deficit of ¥80 billion.
While Nissan slightly raised its sales forecast late Thursday, its statement warned that its net loss could be ¥700 billion to ¥750 billion. "This is primarily due to changes in the competitive environment and deterioration in sales performance,” it said. That would be Nissan’s biggest-ever loss on a annual basis.
The even weaker-than-expected results will put increasing pressure on Nissan to find another lifeline after talks for a tie-up with Honda formally ended earlier this year. That led to the ouster of CEO Makoto Uchida, who warned at the time that it would be "difficult to survive” without a partnership of some sort.
Shares of Nissan have taken a beating this year and are down 31%, on top of a 13% decline in 2024.
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