Nissan Motor Company posted a net loss of 671 billion yen, equivalent to $ 6.2 billion for the year ended March, due to declining sales due to the outbreak of the Coronavirus.
According to ArabiaNet, the annual financial result exceeds the company's net loss of 233 billion yen for the 12 months ended March 2009, which is the year of the global financial crisis. p>
The company lost 684 billion yen in 1999 which saw the implementation of the restructuring plan initiated by former President Carlos Ghosn.
Nissan said in a statement that the global epidemic of COVID-19 had a great impact on production, sales and other commercial activities of Nissan in all regions.
She said the loss included 603 billion yen in costs associated with the restructuring and devaluation because it focused on improving operational processes.
Nissan posted a net profit of 319 billion yen in the previous year.
Nissan did not provide any guidance on this year's earnings, as it remains unclear what the demand will be in the aftermath of the Coruna epidemic.
She said she had enough cash to direct her during the tough business environment.
