Business & Economy

Nissan reports net loss of $3.5 billion between Apr-Dec 2020

Tokyo, Feb 9 (efe-epa).- Japanese carmaker Nissan reported a net loss of 367.71 billion yen ($3.5B) in the first nine months of the fiscal year up to December 2020 although its performance improved in the most recent quarter.

The firm posted an operating loss of 131.63 billion yen during that time period and its consolidated net revenue dropped 29.2% year-on-year to 5.32 billion yen, according to the company’s results published Tuesday.

As with others in the sector, Nissan operations were hit by the Covid-19 pandemic, the effects of which were most acute in fiscal year Q1 (April to June), although its future outlook has been revised positively.

COO Ashwani Gupta told during a Tokyo press conference: “In our core market, the United States has recovered to the same level as last year while China has continued to exceed the prior year.” EFE-EPA

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