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Nissan Motor Co. is forecasting a wider-than-projected operating loss for the current fiscal year, as the impact from the coronavirus pandemic forces the automaker to accelerate cost-cutting measures.

The operating loss for the year to March will be ¥470 billion ($4.5 billion), compared with analysts’ average prediction for a ¥216 billion loss and a ¥40.5 billion loss in the prior year. The Yokohama-based company also plans to skip its dividend, it said in a statement Tuesday.

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