Nissan expects to rack up a loss totaling 700 billion yen ($4.9 billion) to 750 billion yen ($5.3 billion) for the fiscal year through March because of declining sales and the losing value of its assets, the embattled Japanese automaker said Thursday.
Nissan Motor Corp. was already expecting red ink, but the projected loss for the year was previously lower at 80 billion yen ($561 million).
It said the cost of impairments — which refer to the lost value of assets — exceeded 500 billion yen ($3.5 billion) and came after a review of production assets in North America, Latin America, Europe and Japan.
