“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.