Crisis-hit Japanese carmaker Nissan said Tuesday it had trimmed its annual net loss but warned its outlook remained clouded by the global chip shortage that has hit the auto industry.
The firm has faced a series of trials, from weak demand during the pandemic to the fallout from the arrest of former boss Carlos Ghosn, now an international fugitive after jumping bail and fleeing Japan.
Nissan narrowed its net loss to 448.7 billion yen ($4.1 billion) for the fiscal year to March, from a loss of 671.2 billion yen a year earlier, beating its own forecast. “We are facing big business risks such as the semiconductor supply shortage and a surge in raw material costs,” CEO Makoto Uchida told reporters. “We expect to face the impact mainly in the first quarter,” he said, adding that the company would continue to invest in sectors including research and development. For the current year, Nissan expects to stay in the red but move closer to profitability, projecting a net loss of 60 billion yen. The firm also forecast stronger sales for the current fiscal year, steadily recovering from the impact of virus lockdowns.
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