Nissan reports 233.7 billion loss for FY09, projects net loss of 170 billion for FY2010

Japan's third-biggest automaker, Nissan Motor Co., has reported a net loss of 233.7 billion ($2.32 billion) for the fiscal year ended March 2009,compared to profit of 482 billion in the previous year but is better than the company's own forecasts disclosed at the third-quarter financial results filed on February 9, 2009.

The company's net revenue fell 22 per cent to 8.437 trillion ($83.78 billion), while operating loss at 137.9 billion ($1.37 billion) against a year-earlier profit of 790.8 billion and ordinary loss stood at 172.7 billion ($1.71 billion).

Nissan has been affected mainly by three factors the US financial crisis, the global slowdown and the strong yen said Nissan's chief operating officer Toshiyuki Shiga.

For the 2008 fiscal year, Nissan sold totally 3,411,000 vehicles worldwide, down 9.5 per cent. In North America, sales were 1,133,000 units, down 16.2 per cent, United States sales were 856,000 units, down 19.1 per cent. In Japan, sales were 612,000 units, down 15.1 per cent. In Europe, sales came to 530,000 units, down 16.7 per cent.

Sales in General Overseas Markets (GOM) were up 7.1 per cent at 1,136,000 units, with China remaining the only market to demonstrate growth.

In fiscal year 2008, Nissan released eight all-new models globally - Teana, Infiniti FX, Maxima, Qashqai+2, NP200, KIX mini SUV, Cube and Z.