On the 13th, Nissan Motor Co., Ltd. of Japan announced that it had a net loss of 670.9 billion yen in the fiscal year 2024 (approximately 147 yen to 1 US dollar). The company plans to close seven factories globally and cut 20,000 jobs by the fiscal year 2027.
Nissan released its financial report for the fiscal year 2024 (from April 2024 to March 2025) on the same day, stating that due to the continuous slump in automobile sales, its global sales volume dropped to 3.346 million vehicles. The sales revenue was 126.3 trillion yen, a decrease of 52.5 billion yen compared with the previous fiscal year, and the net loss was 670.9 billion yen. The report also mentioned that due to the uncertainties caused by the additional tariffs imposed by the United States, it is currently impossible to predict the company's performance in the fiscal year 2025.
The business reconstruction plan announced by Nissan on the same day shows that by the fiscal year 2027, the company will reduce the number of its automobile production factories from 17 to 10. In addition, on top of the previously announced global job - cut of 9,000 positions in November last year, the company will cut more than 10,000 additional jobs, with a total of 20,000 job cuts, accounting for about 15% of Nissan's total workforce.
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