Nissan Motor Co. on Thursday cut its annual operating profit forecast by 43% because of the slump in car sales, that is Reuters, increasing the pressure on the new leadership, the company still has not recovered from the scandal surrounding former head Carlos Ghosn.
the Japanese automaker expects operating profit of 85 billion yen ($775 million) for the year ending in March, far below the average forecast in 134,5 billion yen from 20 analysts surveyed by Refinitiv.
the Company also said that it will not pay dividends for the second half of the year and that the dividends for the year will be 10 yen per share compared to 57 yen a year earlier.
a Sharp drop in profit Nissan has already led to plans of job cuts, closing production sites and limit the range of products, said informed sources.
the Company now plans to sell to 5.05 million vehicles for the full year, that will be the lowest sales figure in 2013.
"there is Progress, but sales were weak, so will need to restructure at a higher level than originally planned," - said to journalists the new General Director of Nissan Makoto Uchida.
According to sources, Nissan plans to eliminate at least 4,300 jobs and close two production sites as part of plans to increase profits by at least 480 billion yen by 2023.
Global sales of Nissan vehicles fell 11% in October-December. Operating profit decreased by 78% in the last quarter of 2019, a net loss of 26.1 billion yen.
