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Automobiles

Nissan to raise up to 500 billion yen in first bond issue in 4 years

Automaker secures liquidity in response to pandemic and sales slump

Nissan is struggling with decreasing car sales amid the coronavirus pandemic. The company has prepared structural reform plans including a steep cut in global production capacity.   © Reuters

TOKYO -- Nissan Motor has registered with the Japanese government to issue up to 500 billion yen ($4.7 billion) in bonds within two years to prepare for a possible deterioration of earnings by increasing funds on hand.

The major Japanese automaker, which registered its first corporate bond issue in four years with the Kanto Local Finance Bureau on Friday, is struggling with decreasing new car sales amid the novel coronavirus pandemic. It has prepared structural reform plans including a steep cut in global production capacity.

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