Nissan Motor Co on Thursday cut its annual operating profit forecast by...
“We are making progress, but sales volumes have been weak so we need to do more restructuring than initially planned,” Makoto Uchida, Nissan’s new CEO and its third since September, told reporters.
It also said it would not pay a dividend for the second half and that its annual dividend would be 10 yen per share, a steep drop from the 57 yen paid a year earlier. Nissan’s global vehicle sales tumbled 11% during the quarter, its brand image hurt badly by years of heavy discounting in the United States and other countries.
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