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Business

Nissan braces for heavy cost of regulatory shortfall

Automaker to spend $220m or more to recall 1.21 million cars

Nissan Motor CEO Hiroto Saikawa briefed reporters on the scandal at a Oct. 2 news conference.

TOKYO -- Nissan Motor is scrambling to initiate a recall equivalent to more than double its annual domestic sales volume following the revelation of a grave regulatory oversight, prompting concern over the harm to its brand image and sales.

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