Nissan Reports Net Loss for Fiscal 2024
Nissan Motor Co. has announced a net loss for fiscal 2024, citing declining operating profits and revenue as the primary reasons.
Key Factors Contributing to Net Loss
- Declining operating profits
- Decrease in revenue
Cost-Cutting Measures
The company has implemented plans to reduce its workforce by over 10,000 jobs and close seven factories to cut costs by ¥500 billion.
Impact on Stock Price
Shares of Nissan fell by as much as 3.2% in Tokyo on the news of its financial struggles.
Market Uncertainty
Nissan has decided against issuing an operating profit forecast for the current fiscal year, contributing to market uncertainty.
Financial Projections
Analysts predict a loss per share for the latest quarter due to decreased investor confidence.
Details of Cost-Cutting Measures
- Reduction of workforce by over 10,000 jobs
- Closure of seven factories to cut costs by ¥500 billion