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Nissan's Ghosn crisis

Nissan's profit sinks below Renault's for first time in 10 years

Weak earnings alter power balance and offer partner a chance to pounce

Nissan Motor plans to lower its dividend for the first time in a decade this fiscal year as a speedy earnings turnaround looks unlikely.   © Reuters

TOKYO -- Nissan Motor's profit dropped below that of French partner Renault for the first time in a decade last fiscal year, a development that risks weakening the Japanese automaker's position in their alliance.

Nissan's operating profit sank 45% to 318.2 billion yen ($2.91 billion) for the year ended in March, earnings released Tuesday show -- less than the 3.61 billion euros ($4.06 billion) reported by Renault for 2018. It also logged the smallest operating margin of the alliance's three members, at 2.7% to Renault's 6.3% and Mitsubishi Motors' 4.4%.

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