Overview
- Nissan raised its fiscal-year forecast to a ¥50 billion operating profit from a projected ¥60 billion loss, lifted revenue guidance to ¥12 trillion, and trimmed its net loss outlook to ¥550 billion.
- The company said the swing stems mostly from the release of U.S. greenhouse-gas penalty reserves after rule changes, along with cost controls and a weaker yen.
- The stock rose as much as 6.5% in Tokyo trading after the outlook change.
- Global sales fell about 4.2% to roughly 3.1 million vehicles, including a 13.5% drop in Japan and a recent pickup in China tied to the N7 sedan.
- Re:Nissan maps plant closures, about 20,000 job cuts and a slimmer lineup to boost margins, and the company still guides to positive automotive free cash flow in the second half with automotive net cash above ¥1 trillion at year-end.