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Nissan books USD 84 million Ghosn related charges, cuts outlook

Auto News - Published on Thu, 14 Feb 2019

Image Source: ET Auto
Nissan Motor Co said it had booked around USD 84 million in charges related to under-reported compensation for ousted chairman Carlos Ghosn, and slashed its annual profit outlook on weaker global sales. Nissan said that it had recognized around JPY 9 billion (USD 84 million) in additional expenses linked to payments to Ghosn. The statement was part of Nissan's quarterly results announcement, its first since Ghosn's November arrest on allegations of financial misconduct.

The Japanese automaker cut its full-year profit forecast to JPY 450 billion from JPY 540 billion previously on persistent weakness in global sales. Nissan based its new forecast on an assumption that the yen will trade around 110.6 yen to the US dollar through March 31, from a previous forecast for 105 yen.

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Posted By : Joykumar Irom on Thu, 14 Feb 2019
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