On Tuesday, Nissan Motor Co’s Chief Executive Makoto Uchida stated, he expects the carmaker’s earnings and cashflow to remain under pressure through the end of the financial year in March.
Uchida made these comments while addressing shareholders for the first time since taking the helm in Nissan in December midst the automaker’s struggles to recover from falling profits. Nissan also saw a corporate shake-up following the arrest of former chairman Carlos Ghosn in late 20018.
Last week, Nissan slashed its full-year profit forecast to its 11-year low and slashed its dividend outlook to its lowest since the 2011.
Dwindling car sales have pushed the company to post its first quarterly net loss in nearly a decade.