The Yomiuri Shimbun http://www.yomiuri.co.jp/dy/business/20090115TDY08309.htm




Nissan Motor Co. expects to post an operating loss on a consolidated
basis for the business year ending in March, its first loss since
President Carlos Ghosn became the firm's chief executive officer in
1999, according to sources.
A sharp decline in global sales of new cars and the unexpectedly
high appreciation of the yen drastically eroded the company's earnings,
the sources said.
It will be the first time the automaker will post an operating loss
on a consolidated basis after France's Renault SA entered a capital
tie-up with Nissan in 1999.
Toyota Motor Corp. and Hino Motors, Ltd. have announced they expect
operating losses on a consolidated basis for the business year.
Observers say Nissan's expected loss highlights the deepening
distress of the nation's carmakers. In October, Nissan revised downward
its projected results for the business year, saying operating profits
on a consolidated basis were expected to fall from 550 billion yen to
270 billion yen.
The automaker is expected to reduce the figure again within this month.
Sources say the company will eventually post a loss of at least
several tens of billions of yen. Observers say Nissan's expected loss
will be a result of the drastic decline in its sales in North America,
which have comprised more than 40 percent of the company's profit.

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