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Nissan falls hard in Japan Inc.'s earnings nosedive

Profit forecasts shrink by nearly half from most recent projections

A man wearing a mask walks by a Nissan dealership in Tokyo.   © Reuters

TOKYO -- Corporate Japan is on track to erase 46% of the projected net earnings for the year ended March, a Nikkei estimate shows, with Nissan Motor warning Tuesday of a first net loss in 11 years.

The fallout from the global pandemic has slammed both export-heavy industries and domestic-focused businesses. This marks a departure from the global financial crisis when internal consumption was granted a level of immunity.

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