- Japanese carmaker Nissan reported a reduced annual loss of 533 billion yen ($3.4 billion) for the fiscal year ending March, an improvement from the 670.9 billion yen loss recorded the previous year, though annual sales fell by 5 per cent.
- CEO Ivan Espinosa indicated that Nissan is making steady progress and showing "clear signs" of a turnaround, moving beyond recovery into a "phase of growth" driven by disciplined cost management and faster product execution.
- For the January-March quarter, Nissan posted a net loss of 282.9 billion yen ($1.8 billion), which was less than the 676 billion yen loss from the same period a year ago, with quarterly sales declining by almost 2 per cent.
- The company continues to face significant challenges from US tariffs, inflation, and intensifying competition, particularly from new Chinese manufacturers, which has led to job cuts and the sale of its headquarters building.
- Nissan anticipates returning to profitability by the fiscal year ending March 2027, projecting a 20 billion yen ($127 million) profit.
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