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Nissan Cuts Annual Operating Loss Estimate To 340 Billion Yen

Nissan Cuts Annual Operating Loss Estimate To 340 Billion Yen

Nissan Motor Co Ltd revised its fullyear forecast to an operating loss of 340 billion yen ($3.23 billion) from a previous prediction for a record 470 billion yen loss.

TOKYO: Nissan Motor Co Ltd revised its full-year forecast to an operating loss of 340 billion yen ($3.23 billion) from a previous prediction for a record 470 billion yen loss.

That compares with a Refinitiv consensus estimate of a 335 billion yen loss from 23 analysts.

Japan’s third-largest automaker, which is drastically restructuring its business, posted a 4.83 billion yen operating loss in the three months ended Sept. 30 after sales fell due to the coronavirus pandemic.

That is less than an average estimate of a 80.6 billion yen operating loss from a Refinitiv poll of 5 analysts and compares with a 30 billion yen profit for the same period a year earlier.

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