By Peter Landers Nov. 12, 2019 3:48 am ET TOKYO— Nissan Motor Co. NSANY -0.31% lowered its revenue and profit forecasts for the current fiscal year citing weak demand, including in the U.S.
Nissan’s results and the revised forecasts released Tuesday showed the sharp decline in the Japanese car maker’s business in the year since then-Chairman Carlos Ghosn was arrested in Tokyo in November 2018. Nissan said it expected to record revenue of ¥10.6 trillion in the year ending March 2020, down from an earlier forecast of ¥11.3 trillion. It said net profit was likely to fall 66% to ¥110 billion , compared with its earlier forecast of ¥170 billion.
Global vehicle sales in the April-September half year fell 6.8% to 2.5 million units, including a 4.3% fall in the U.S. and a 20% decline in Europe.Copyright ©2019 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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