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Nissan 2FQ Swings to US$60M+ Loss, Axes Full-yr Profit Forecast, Sacks 9,000 Jobs
Japanese automaker Nissan Motor announced its financial results for the 2FQ ending September. Net revenue was JPY2.99 trillion (approximately USD19.397 billion), down 5.1% YoY. Ope...
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Nissan 2FQ Swings to US$60M+ Loss, Axes Full-yr Profit Forecast, Sacks 9,000 Jobs
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Japanese automaker Nissan Motor announced its financial results for the 2FQ ending September. Net revenue was JPY2.99 trillion (approximately USD19.397 billion), down 5.1% YoY. Operating profit was JPY31.9 billion (approximately USD207 million), down 84.7% YoY. The company went from profit to loss, recording a loss attributable to shareholders of JPY9.3 billion (approximately USD60.42 million), compared to a profit of JPY190.7 billion in the same period of the previous fiscal year.

Tatsuo Yoshida, Analyst at Bloomberg Intelligence (BI) commented that the decline in net profit in the 2FQ was not unexpected, but the data was worse than imagined. The main problem was that there was a major gap between the company's expectations and the actual results.

The company also lowered its full-year earnings forecast for the year ending March 2025, expecting to record an operating profit of JPY150 billion (about USD975 million), compared to the original forecast of operating profit of JPY500 billion. The company also announced the global reduction of about 9,000 jobs.

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