At the New York International Auto Show on March 28, 2024, Nissan ARIYA appeared on the electric vehicle test track.
Danielle DeVries | CNBC
Japanese automaker stocks Nissan One day ago, the company announced pessimistic quarterly results and said it would cut global production capacity by 20%, sending its stock price plummeting 10.12%.
The company, which also announced plans to cut 9,000 jobs, hit a four-year low of 368.5 yen on Friday, its lowest level since September 2020
Nissan has released its Results for the second quarter ended September Data released on Thursday showed that the company recorded a net loss of 9.3 billion yen (about 62 million U.S. dollars), a reversal from a net profit of 190.7 billion yen in the same period last year.
Second-quarter operating profit fell nearly 85% year-on-year to 31.9 billion yen, and revenue fell 5% to 2.99 trillion yen.
Nissan also significantly lowered its full-year forecast, lowering its revenue forecast from 14 trillion yen to 12.7 trillion yen and its operating profit forecast from 500 billion yen to 150 billion yen.
The company’s board of directors chose not to pay an interim dividend and canceled its year-end dividend forecast.
Nissan said it was “facing a severe situation” and would take “urgent measures to reverse its performance.”
The measures include plans to reduce headcount, cut other costs and “rationalize the asset portfolio, prioritizing capital expenditures and R&D investments.”
Its purpose is to reduce Compared with fiscal 2024, fixed costs increased by 300 billion yen and variable costs increased by 100 billion yen.
The company said it will adopt a structure that will enable it to achieve sustainable profitability and cash generation in fiscal 2026, even as annual sales reach 3.5 million vehicles.
Sales in the first half of the year Its fiscal year sales were 1.6 million units, down 1.6% from the same period last year.
Nissan added that Chief Executive Makoto Uchida will voluntarily give up 50% of his monthly salary starting in November, while other executive committee members will also take voluntary pay cuts.
