YOKOHAMA: Crisis-hit Japanese automaker Nissan said Thursday its net profit plunged more than 87% for the nine months to December as it struggles with weak demand and fallout from the arrest of former boss Carlos Ghosn.
Net profit for April-December dropped 87.6% to 39.3 billion yen, on sales down 12.5% at 7.5 trillion yen for the period. Nissan, which downgraded annual forecasts three months ago, said its bottom-line profit was now forecast to be 65 billion yen for the fiscal year to March 2020, compared with an earlier estimate of 110 billion yen.
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