TOKYO - Nissan Motor Co Ltd will announce on Wednesday a large-scale cut to its earnings outlook for the fiscal year that ended in March, TV Tokyo reported, adding to the company’s woes as it grapples with the arrest of former Chairman Carlos Ghosn.
The Japanese automaker will slash its estimates because of weak sales in North America and China, TV Tokyo’s flagship programme World Business Satellite reported late on Tuesday. Nissan’s board approved the move at a meeting on Tuesday, WBS said, citing unidentified sources.The maker of the Rogue sport utility vehicle and Altima sedan already cut its outlook just two months ago, predicting its lowest operating profit in six years.
The jailed former boss of both Nissan and alliance partner Renault SA could learn as early as Wednesday whether he will be released on bail for a second time, after he was indicted for a fourth time this week.
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