Nissan to announce large-scale cut to earnings outlook: report

TOKYO (Reuters) - Nissan Motor Co will announce on Wednesday a large-scale cut to its earnings outlook for the fiscal year that ended in March, TV Tokyo reported, adding to the company's woes as it grapples with the arrest of former Chairman Carlos Ghosn. The Japanese automaker will slash its estimates because of weak sales in North America and China, TV Tokyo's flagship programme World Business Satellite (WBS) reported late Tuesday.

Reuters April 24, 2019 06:05:43 IST
Nissan to announce large-scale cut to earnings outlook: report

Nissan to announce largescale cut to earnings outlook report

TOKYO (Reuters) - Nissan Motor Co will announce on Wednesday a large-scale cut to its earnings outlook for the fiscal year that ended in March, TV Tokyo reported, adding to the company's woes as it grapples with the arrest of former Chairman Carlos Ghosn.

The Japanese automaker will slash its estimates because of weak sales in North America and China, TV Tokyo's flagship programme World Business Satellite (WBS) reported late Tuesday. Nissan's board approved the move at a meeting on Tuesday, WBS added, citing unidentified sources.

A Nissan spokesman declined to comment.

The maker of the Rogue sport utility vehicle and Altima sedan already cut its outlook just two months ago, predicting its lowest operating profit in six years.

(Reporting by Chris Gallagher; Additional reporting by Naomi Tajitsu; editing by Richard Pullin)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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