Nissan Motor (TYO:7201) expects to record over 560 billion yen in write-downs and other charges, according to Nikkei Asia, citing the company's executive.
The company said on Thursday that it now anticipates a net loss of up to 750 billion yen for the fiscal year ending March, said the news portal.
This updated forecast is significantly lower than previous estimates and is mainly attributed to impairment charges following a review of production assets, primarily in Japan and the US, added the report.
A Nissan executive stated that while they have taken substantial impairment charges, structural reforms are ongoing, and bolder actions will be considered in the current fiscal year, the report said.
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