Nissan Motor Co. must get itself back on a track toward profitability in the next fiscal year -- a goal that could be held captive by market conditions, according to Carlos Ghosn, Nissan's chief operating officer.
Ghosn, former executive vice president of Renault SA, was appointed Nissan's chief operating officer in late June after Renault in March bought a 36 percent stake in Nissan Motor.
Ghosn, who gained a reputation for instituting drastic cost-cutting measures at Renault, is currently working on a revival plan for Nissan Motor, which is to be announced in mid-October.
"Our goal is establishing a priority for profitability next year," Ghosn said Tuesday. "To be credible, we have to first go back to profits and set more aggressive goals."
The Japanese automaker entered the business tieup with Renault in an attempt to get out from under mountains of debt.
Now moving those mountains is Ghosn's task, and he foresees Nissan Motor reviving itself and becoming competitive again over a five-year period.
He also sees any turnaround coming from a companywide effort in which all employees -- not just a handful in management -- will play a role.