What losses is Nissan expected to report for the fiscal year?

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Nissan Anticipates Significant Fiscal Year Losses Due to Pandemic Impact

Nissan is forecasting substantial operating and net losses for the fiscal year concluding in March, a significant downward revision from its previously projected profits. These anticipated financial results are primarily attributed to the widespread effects of the coronavirus pandemic on its operations and the broader automotive market.
Revised Profit Projections

The automaker had initially anticipated an operating profit of ¥85 billion and a net profit of ¥65 billion for the fiscal year. However, the company has since indicated that its operating profit is now expected to be between ¥120 billion and ¥130 billion lower than initially projected. Similarly, the net profit is now projected to be ¥150 billion to ¥160 billion below the earlier forecast.
Impact of the Coronavirus Pandemic

The global spread of the coronavirus has severely disrupted economic activity worldwide, including the automotive sector. This disruption has led to challenges in production, supply chains, and demand, directly impacting Nissan's financial performance. The company's revised outlook reflects the significant adverse effects the pandemic has had on its business throughout the fiscal year.
Broader Market Context

This financial revision from Nissan occurs as other major companies also begin to announce their full-year earnings, with several already adjusting their forecasts downward due to the pandemic's influence. The broader economic climate, marked by uncertainty and the anticipation of upcoming holidays, has contributed to a cautious market sentiment, as seen in the slight dip of the Nikkei 225 index.

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What losses is Nissan expected to report for the fiscal year?

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