Nissan Motor Co., trying to rebuild its tarnished reputation over failed corporate governance following the criminal investigation of two former executives, cut its operating profit outlook by a sharp 28 percent for fiscal 2019 to its lowest in a decade.
At a news conference Tuesday at Nissan's headquarters in Yokohama, CEO Hiroto Saikawa said operating profit is projected to sink to ¥230 billion from ¥318 billion in fiscal year 2018. Net income is estimated to dip to ¥170 billion from ¥319 billion.
"The most urgent priority is shaking off the weak performance," Saikawa said.