Home > Nissan Has Worst Year In a Decade

Business
Nissan Has Worst Year In a Decade

Description

TOKYO -- Nissan cut its full-year profit forecast to its lowest in nearly a decade due to weakness in the United States, just as it adjusts to life without Carlos Ghosn and charts its future with alliance partner Renault. The Japanese automaker expects operating profit for the year ended March to drop 45 percent versus a year earlier to 318 billion yen ($2.84 billion), from a previous forecast for 450 billion yen, on expenses related to extending vehicle warranties in the United States, its biggest market. In a statement on Wednesday, Nissan said sales had taken a hit in the aftermath of the arrest of Ghosn, its former chairman, contributing to a decline in profit to its lowest since the year ended March 2010.

Added on the 24/04/2019 06:43:01 - Copyright : Wochit

To customise your video :

Or Create an account

More videos on the subject

  • Ghosn Issues Push Nissan To Worst Year Of The Decade

    YOKOHAMA (Reuters) - Nissan Motor Co forecast a 28% drop in its annual operating profit, setting it up for the weakest earnings in 11 years and underscoring its struggle to turn the page after the ouster of former Chairman Carlos Ghosn. REUTERS/Pierre Albouy/File Photo GLOBAL BUSINESS WEEK AHEAD The lackluster performance at Japan’s No.2 automaker, which has been hit hard by Ghosn’s arrest last year, adds to pressure on CEO Hiroto Saikawa as he tries to put aside the scandal and focus on overhauling corporate governance and giving Nissan a more equal footing with alliance partner Renault. Nissan forecast operating profit of 230 billion yen ($2.10 billion) for the year to March 2020, versus 318 billion yen in the year just ended.

    14/05/2019 - Wochit
  • CEO: Nissan Performance 'Rock Bottom'

    Automotive news reports Nissan CEO Hiroto Saikawa has a plan to reverse the sudden U.S. free fall that has driven the automaker to its worst financial funk in more than a decade — but it's not going to happen quickly. Saikawa predicted last week: "People will question why we are not delivering results soon." He said this while announcing a 45 percent plunge in Nissan's global operating profit for the fiscal year ended March 31.

    20/05/2019 - Wochit
  • Nissan To Have Worst Year Since 2008

    YOKOHAMA (Reuters) - Nissan Motor Co forecast a 28% plunge in its annual operating profit, setting it up for the weakest earnings in 11 years and underscoring its struggle to turn the page after the ouster of former Chairman Carlos Ghosn. Nissan CEO Hiroto Saikawa attends a news conference in Yokohama, Japan, May 14, 2019.

    14/05/2019 - Wochit
  • US Housing Affordability At Worst Level In Nearly A Decade

    A new report says housing affordability in the US it as its worst level in nearly a decade. Attom Data Solutions adds US mortgage rates hit their highest level in seven years last month. The national average 30-year fixed rate is now above 4.4%, compared to 3.8 a year ago. Business Insider add wages are rising, but quickly enough to move the needle on affordability.

    21/06/2018 - Wochit
  • Taylor Swift will be Billboard's first-ever Woman of the Decade

    Taylor Swift is set to receive the first-ever Billboard Woman of the Decade Award at the 2019 Women in Music Event.

    21/11/2019 - BANG Showbiz
  • Taylor Swift will be Billboard's first-ever Woman of the Decade

    Taylor Swift is set to receive the first-ever Billboard Woman of the Decade Award at the 2019 Women in Music Event.

    21/11/2019 - BANG Showbiz

More videosBusiness

Watch video of Located On A Huge Plain In Spain's East, Teruel Airport Is Scarcely On A Sunseeking Tourist's Radar, Yet Is One Of Precious Few Airports Positively Flourishing During The Coronavirus Crisis Which Has Dealt A Crushing Blow To The Aviation Industry And Tourism.   - Virus is good news for one Spanish airport - Label : AFP EN  -
Business

Virus is good news for one Spanish airport

22/05/2020 01:42:13

Watch video of Shares Of Blue Apron Dipped To An All-time Low. The Meal-kit Subscription Dropped To $1.81 Per Share On Tuesday. The Company Has Faced Increasing Pressures From Competition, Like HelloFresh. Big Companies Like Walmart And Amazon Entering Its Space. In March, Walmart Announced It Was Launching Its Own Line Of Meal Kits. The Company Has Struggled To Attract New Customers And Retain Old Ones Since Going Public Last June. - Blue Apron Shares Drop To A New Low - Label : Wochit -
Business

Blue Apron Shares Drop To A New Low

03/04/2018 21:21:24