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Nissan maintains future plans despite “severe situation”

Financial downturn means Nissan must scale back production, cut costs and reduce its workforce, but it is still planning for the future. By Will Girling

Following a disastrous Q1 2024 in which group profit fell 99%, Nissan’s problems don’t show any signs of abating. Published on 7 November, the automaker’s H1 results for the fiscal year reported JP¥5.98tr (US$38.8bn) in consolidated net revenue—down JP¥79bn from 2023—a 90% drop in operating profit, and a revised full-year profit forecast from JP¥500bn to JP¥150bn (-70%). The latter marked its second major revision to the figure in six months.

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