Nissan’s Net Yearly Profit Hit A Near-Decade Low

Japanese automobile company, Nissan forecasted that its net profit would nearly halve further to 170 billion yen with sales projected to fall 2.4%. However, crises hit Nissan very badly, and the company revealed that their full-year net profits are at a near-decade low and forecast a further decline as it battles to recover after the shock arrest of its talismanic former boss Carlos Ghosn on the grounds of financial misconduct.

The Japanese firm’s bottom-line profit for the fiscal year to March fell 57.3 % to 319.1 billion yen ($2.9 billion), the lowest since 2009-10 when the company was struggling in the wake of the global financial crisis.

Sales fell 3.2 3.2 % with operating profit down for a third straight year, said Nissan after forming an alliance with France’s Renault and fellow Japanese carmaker Mitsubishi Motors.

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