Daily Management Review

Nissan ends first half of fiscal 2020 at a loss


Japanese carmaker Nissan reported a loss of 330 billion yen (approximately $3.1 billion) for the first half of the current fiscal year (April 1 - September 30, 2020) compared to the same period of the previous fiscal year.

Nissan finished the first half of fiscal year 2019 with a profit of 65.4 billion yen (about 621 million dollars). It is noted that in order to improve the situation, the carmaker intends, in particular, to reduce its fixed costs and improve the quality of sales by focusing on the retail sector.

On 6 November, Japanese car companies Toyota and Honda reported a decline in profits for the first half of fiscal year 2020 in their reports. 

Thus, the profit of Toyota decreased by 45.3% to 629.3 billion yen (about $6 billion). Honda profit decreased by 57% to 160 billion yen (about $1.5 billion). On 9 November, Japanese carmaker Mazda announced a loss of 93 billion yen (approximately $898 million) for the first half of the current fiscal year.

Due to the pandemic, Japanese car companies have repeatedly suspended production at their plants around the world in the first half of 2020. In addition, they experienced difficulties in the supply of components. 

source: nikkei.com