July 25, 2019 / 8:08 AM / a month ago

RPT-BRIEF-Nissan CEO Saikawa Says Would Like To See Operating Profit Margin In U.S. Market Recover To 6%

(Repeats with no changes to text)

July 25 (Reuters) - Nissan Motor Co Ltd:

* NISSAN CEO SAIKAWA SAYS TO CUT ANNUAL PRODUCTION CAPACITY TO 6.6 MILLION VEHICLES BY FY2022 FROM 7.2 MILLION IN FY2018

* NISSAN CEO SAIKAWA SAYS  COMPACT CAR MODELS, DATSUN BRAND MODELS TO BE AFFECTED BY PRODUCT LINE-UP CUTS

* NISSAN CEO SAIKAWA SAYS TARGETING NET REVENUE OF 14.5 TRLN YEN BY FY2022 VERSUS 13 TRLN YEN THIS YEAR; 6.0 MILLION GLOBAL VEHICLE SALES VERSUS 5.5 MILLION UNITS

* NISSAN CEO SAIKAWA SAYS AIMS TO REDUCE FIXED COSTS BY 300 BILLION YEN

* NISSAN CEO SAIKAWA SAYS PROFITABILITY AT THE MOMENT IS POOR; WE WOULD LIKE TO CONTINUE TO RECOVER THROUGH FY2022

* NISSAN CEO SAIKAWA SAYS  NEW GENERATION OF LEADERS WILL BE PREPARED TO TAKE THE COMPANY INTO THE FUTURE BEYOND FY2022

* NISSAN CEO SAIKAWA SAYS REVENUES BOTTOMED OUT IN Q1, SALES VOLUMES THROUGH Q4 TO IMPROVE, RAISING ANNUAL REVENUE

* NISSAN CEO SAIKAWA SAYS REGARDING OUTPUT CUT, THIS COULD INVOLVE CLOSING SINGLE PRODUCTION LINES, COULD ALSO CONSIDER CLOSING ENTIRE PLANTS

* NISSAN CEO SAIKAWA SAYS IT’S MY RESPONSIBILITY TO DELIVER 14.5 TRLN REVENUE, 6.0% PROFIT MARGIN BY FY2022

* NISSAN CEO SAIKAWA SAYS MOST PRODUCTION CAPACITY ADJUSTMENTS WILL BE MADE IN OVERSEAS FACTORIES

* NISSAN CEO SAIKAWA SAYS WOULD LIKE TO SEE OPERATING PROFIT MARGIN IN U.S. MARKET RECOVER TO 6% Further company coverage: (Reporting by Sam Nussey)

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