TOKYO -- Nissan Motor said Thursday it expects a net loss of 80 billion yen ($519 million) for the year through March. The carmaker will end in the red for the first time in four years due to sluggish sales and the heavy costs related to cutting jobs and production capacity.
The carmaker withdrew its annual net income forecast of 300 billion yen set back in November. "The revised figure includes an estimated [cost of] approximately 100 billion yen for restructuring, which is expected to be finalized in the fourth quarter," the company said in a statement on Thursday.
