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Markets News

Nissan cuts annual operating loss estimate to 340 bln yen

TOKYO, Nov 12 (Reuters) - Nissan Motor Co Ltd revised its full-year forecast to an operating loss of 340 billion yen ($3.23 billion) from a previous prediction for a record 470 billion yen loss.

That compares with a Refinitiv consensus estimate of a 335 billion yen loss from 23 analysts.

Japan’s third-largest automaker, which is drastically restructuring its business, posted a 4.83 billion yen operating loss in the three months ended Sept. 30 after sales fell due to the coronavirus pandemic.

That is less than an average estimate of a 80.6 billion yen operating loss from a Refinitiv poll of 5 analysts and compares with a 30 billion yen profit for the same period a year earlier.

$1 = 105.2600 yen Reporting by Tim Kelly; Editing by Edwina Gibbs

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