“Compared with the outlook issued at the time of Nissan’s third quarter results in February, the forecast full-year sales volume has been lowered to 3.35 million units. Full-year net revenue is now expected to reach ¥12.6 trillion, with operating profit of ¥85 billion. This is primarily due to changes in the competitive environment and deterioration in sales performance,” Nissan said.

Restructuring impairments are expected to exceed ¥500 billion across North America, Latin America, Europe, and Japan. Additionally, restructuring costs are expected to exceed ¥60 billion as part of ongoing turnaround measures.

Despite the anticipated colossal net loss, Nissan claimed it remains in a solid cash position, expecting to end fiscal year 2024 with net cash of ¥1.498 trillion. The company has ¥2.2 trillion yen in cash and cash equivalents, along with ¥1.2 trillion in loans to sales finance companies, totaling ¥3.4 trillion yen in available liquidity. Nissan expects to end fiscal 2024 with ¥1.9 trillion in automotive debt.

The company has filed the revised fiscal year forecast to the Tokyo Stock Exchange. Calculated under the equity accounting method for Nissan’s joint venture in China, the forecast for the fiscal year ending 31 March 2025: