Nissan warned it will post a net loss of as much as ¥750 billion ($5.3 billion) for the fiscal year that ended in March — a record annual deficit — as restructuring charges weigh on the struggling carmaker.
With an aging lineup, Nissan has been discounting its cars in order to avoid building up inventory, eroding profits. 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.
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 Chief Executive Officer Makoto Uchida, who warned at the time that it would be "difficult to survive” without a partnership of some sort.
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