|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||7.35 - 7.40|
|52-week range||5.78 - 14.41|
|Beta (5Y monthly)||1.25|
|PE ratio (TTM)||2.21|
|Forward dividend & yield||0.36 (4.78%)|
|Ex-dividend date||26 Sep 2019|
|1y target est||N/A|
Nissan Motor Co <7201.T> has raised $7.8 billion in financing from its creditors since April as it tries to shore up its cash position in the face of falling sales due to the coronavirus pandemic, its latest annual securities report shows. Japan's No. 2 automaker is struggling to recover profitability after posting its first annual loss in 11 years, suffering from falling sales, a tarnished image and a deteriorating cash position even before the virus outbreak sapped global demand for cars. Under new Chief Executive Makoto Uchida, Nissan has pledged to cut 300 billion yen from its fixed costs over the next four years, by slashing its production capacity and vehicle model range by around one fifth.
Amid the coronavirus mayhem, which has caused motor show schedules go haywire, automakers are now aggressively switching from in-person reveals to online events.
While General Motors' (GM) defense arm secures contracts worth $223 million to manufacture infantry squad vehicle, Ford (F) ties up with Disney for the launch of its Bronco SUV.
Japanese automaker Nissan Motor <7201.T> said on Friday its sales in China grew 4.5% in June from a year earlier to 136,929 vehicles, as the world's biggest auto market recovered from its coronavirus low. China's auto market, the world's biggest, is one of Nissan's focuses as the embattled carmaker struggles to fix problems from ousted leader Carlos Ghosn's aggressive expansion drive.
Japan has formally asked the United States to extradite a former Green Beret and his son accused of helping former Nissan Motor Co boss Carlos Ghosn flee the country while he was awaiting trial on financial charges. Japan submitted a request to the U.S. State Department to extradite Michael Taylor and his son, Peter Taylor, after they were provisionally arrested in Massachusetts in May, the U.S. Justice Department said in a court filing on Thursday.
Moody's forecasts global auto sales decline of at least 20% year over year in 2020, with major impacts to be felt in North America and EMEA.
Weak fleet orders are expected to hurt June sales, which automakers will report on Wednesday. Cox Automotive forecasts fleet sales will fall nearly 56% to 1.3 million vehicles after plunging 83% in May and 77% in April. In the short term, fleet sales are not a major concern for automakers focused on ramping up production to beef up anemic dealer inventories for higher-profit sales to consumers.
Nissan Motor Co aims to launch seven new models in Africa over the next two years, company executives said on Monday, as the Japanese automaker seeks to focus on high-growth markets to try to weather the impact of the COVID-19 crisis. Nissan will expand its SUV and cross-over portfolio in Africa with seven new models, of which four will be in the SUV (sports utility vehicle) category, Shinkichi Izumi, managing director at Nissan South Africa, said. It plans to make Africa a hub for light commercial vehicles (LCV), will increase production of its popular Navara pick-ups and open plants in Ghana and Kenya, Izumi said.
Nissan Motor Co <7201.T> aims to launch seven new models in Africa over the next two years, company executives said on Monday, as the Japanese automaker seeks to focus on high-growth markets to try to weather the impact of the COVID-19 crisis. Nissan will expand its SUV and cross-over portfolio in Africa with seven new models, of which four will be in the SUV (sports utility vehicle) category, Shinkichi Izumi, managing director at Nissan South Africa, said. It plans to make Africa a hub for light commercial vehicles (LCV), will increase production of its popular Navara pick-ups and open plants in Ghana and Kenya, Izumi said.
Nissan Motor Co Ltd <7201.T> on Monday blasted suggestions in media reports of a conspiracy within the company to oust former chairman Carlos Ghosn. Ghosn's 2018 arrest in Japan on financial misconduct charges has led to much speculation that the move was orchestrated by Nissan executives who opposed closer ties with partner Renault SA <RENA.PA>. "I know that in books and the media there has been talk about a conspiracy but there are no facts whatsoever to support this," Motoo Nagai, chairman of Nissan's auditing committee, told shareholders at the company's annual general meeting.
Japanese automaker Nissan will lay off about 200 workers at a plant in Mexico amid local and global challenges facing the automotive industry, the carmaker said on Thursday. "Stemming from changes in the global and local industry, we have had to make important decisions to ensure the sustainability of our operations in today's environment," a Nissan spokesperson told Reuters in a statement. The job cuts will take place at a Nissan plant in the central state of Aguascalientes, the firm said.
Nissan Motor Co on Wednesday said that car sales in Japan were recovering after a drop in demand in April and May due to the impact of the coronavirus. "If you look at the market, in April and May there was a big decline in demand, but this is recovering sharply," Executive Vice President Asako Hoshino said during a livestreamed event to launch the e-Power version of the automaker's Kicks SUV crossover model for the Japan market.
A U.S. prosecutor on Monday urged a judge to keep a former Green Beret and his son locked up as Japan prepares to formally seek their extradition on charges that they helped former Nissan Motor Co <7201.T> boss Carlos Ghosn flee the East Asian country. Assistant U.S. Attorney Stephen Hassink argued during a virtual hearing that Michael Taylor and his son, Peter Taylor, have a "clear and present reason to flee" after being accused of helping Ghosn, who faces financial misconduct charges in Japan.
While Volkswagen (VWAGY) pumps $200 million in QuantumScape to enhance the development of solid-state battery technology, Tesla (TSLA) inks a new battery supply deal with Panasonic.
Nissan Motor Co on Friday said it will cut more shifts at its three assembly plants in Japan due to falling demand, as the automaker struggles to recover from a drop in sales triggered by the coronavirus pandemic. In a statement on its website, Nissan sad it will cancel all night shifts at one of its production sites in Kyushu, southern Japan, from June 29 to July 31. Night shifts at its other Kyushu site will be stopped from July 20 to July 31, it added.
Thus far, Nissan Motor Co's 12-member board has no plan to change the roles of Chief Executive Makoto Uchida or his No. 2 Gupta, the sources told Reuters. The sources, all of whom have ties to Nissan's leadership team, declined to be identified because they aren't authorised to speak to reporters and because of the sensitivity of the topic. Nissan responded in a statement to Reuters there are "no plans or consideration for any change in the management structure at Nissan, and no change to the close collaborative working relationship between Mr. Uchida and Mr. Gupta in their current roles."
U.S. prosecutors on Tuesday said a former Green Beret and his son, wanted by Japan for helping former Nissan Motor Co <7201.T> boss Carlos Ghosn flee the country, were advancing a "flawed" interpretation of Japanese law to fight their extradition. Michael Taylor and his son, Peter Taylor, were arrested in Massachusetts last month at Japan's request for allegedly smuggling Ghosn out of the country on Dec. 29, 2019, in a box while he was out on bail awaiting trial on financial charges. Ghosn fled to Lebanon, his childhood home, after being charged with engaging in financial wrongdoing, including by understating his compensation in Nissan's financial statements.
(Bloomberg) -- Nissan Motor Co. has scrapped a plan to offer yen-denominated bonds in June, in what would have been a return to the credit market after delaying a debt sale last year, according to people familiar with the matter.The Japanese automaker had been targeting an issuance size of 200 billion to 300 billion yen ($1.9 billion to $2.8 billion), people with knowledge of the matter said earlier this month.“We are considering various fundraising methods,” said Azusa Momose, a spokeswoman for Yokohama-based Nissan. “We can’t comment on any detailed plans for future fundraising.”Covid-19 has piled extra pressure on Nissan, which was already under strain following the 2018 arrest of former Chairman Carlos Ghosn, who had pushed for volume growth. The automaker posted its biggest lost in 20 years for the year ended March and unveiled a turnaround plan last month to weather a collapse in car demand due to the coronavirus pandemic.The company postponed a sale of 250 billion yen in corporate notes last September after a compensation scandal led to the ouster of then Chief Executive Officer Hiroto Saikawa, people familiar with the matter said at the time.Debt ScoreNissan’s credit ratings are at risk of being cut to non-investment grade. Moody’s Investors Service rates the automaker Baa3, one step above junk level, and it’s been placed on review for further downgrade.The carmaker’s fundamental credit metrics including profit margins and leverage remain weak, and with its recent earnings, it has “little cushion under its rating,” Mariko Semetko, vice president and senior credit officer at Moody’s, said earlier this month.(Updates with credit ratings in last two paragraphs)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Nissan will not extend the contracts of 248 temporary workers at its British car factory, the Japanese automaker said on Thursday, as the industry struggles with reduced demand amid the coroanvirus outbreak. Output at the northern English Sunderland plant was halted in mid-March and resumed at the start of the week but with only one line, which makes the Juke and Qashqai models, in operation. A second line, which builds Qashqai and the electric LEAF, will reopen on June 22, the firm said.
Renault <RENA.PA>'s partnership with Japan's Nissan <7201.T> has entered an "incredibly positive" phase after episodes of strained relations in recent years, the French carmaker's chairman Jean-Dominique Senard said on Thursday. "We've put the work in, we're in an incredibly positive dynamic," Senard told a hearing in France's lower house of parliament, after Renault and Nissan presented plans to deepen their collaboration in May. Senard added that Renault was confident that car sales, which have ground to a halt during the coronavirus pandemic and ensuing lockdowns, would pick up again in France in the coming months.