Struggling Nissan Motor Co. announced Monday a consolidated net loss of 323.5 billion yen for the first half of fiscal 1999. The automaker said the losses were due to pension and retirement expenses as well as the cost of a massive restructuring program.
Although Nissan posted 42.6 billion yen in pretax profit, the firm ended up with the huge net loss after reporting 368.9 billion yen as a special loss.
Nissan Motor posted an operating profit of 58.5 billion yen in the April-September period, up 125 percent from the same period last year. Group sales declined 9.9 percent to 3.05 trillion yen.