Nissan shares tumble to ten-and-a-half year low after earnings rout
TOKYO - Shares of Nissan Motor Co sank to their lowest in more than a decade on Friday, after deep cuts to the troubled Japanese automaker’s earnings forecast and dividend raised questions about its future profitability.
Nissan on Thursday posted its first quarterly net loss in almost ten years and warned that full-year operating profit would be its weakest in 11 years. It also slashed its full-year dividend outlook to the lowest since 2011. Nissan shares closed down 9.6% at 513.7 yen in Tokyo on Friday, the lowest since mid-2009 and the biggest one-day fall since 2013.
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