TOKYO — Japanese automaker Nissan Motor on Tuesday announced one of the biggest net losses in its history, at 670 billion yen ($4.5 billion), in the fiscal year ended March. It plans to close vehicle plants as its new CEO embarks on a series of measures aimed at turning the ailing company around.
The carmaker’s bottom line for fiscal 2024 sagged badly compared with the previous year, when it posted a net profit of 426.6 billion yen. The weaker numbers were blamed on sluggish sales in its major markets, including the U.S. and China, as well as impairment charges related to a review of its assets across North America, Latin America, Europe and Japan.
