YOKOHAMA: Nissan Motor Co Ltd reported a 70per cent profit tumble on Tuesday and cut its full-year outlook to an 11-year low, as the Japanese automaker was hit by falling sales that highlight its ongoing turmoil after the ouster of former head Carlos Ghosn.
Operating profit at Japan's second-biggest automaker by sales came in at 30 billion yen during the July-September period versus 101.2 billion yen a year earlier. "Operating profit for the first half is off our target" for full-year profit, Stephen Ma, a corporate vice president and the incoming chief financial officer, told reporters."We have reassessed our sales outlook for China and other markets," he said, adding that a stronger yen was also weighing on its forecast.
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