Nissan Motor Co (TYO:7201) has slashed its earnings forecast for the fiscal year 2024, according to its statement on Thursday.
Nissan now anticipates a net loss of 700 to 750 billion yen for the year ended March 31 from an earlier outlook of 80 billion yen net loss.
However, full-year net revenue is expected to be slightly higher at 12.6 trillion yen from 12.5 trillion yen initially.
Despite the projected net loss, Nissan expects to maintain a solid cash position with 1.498 trillion yen in net cash and 3.4 trillion yen in available liquidity.
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