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Home / Business / Nissan deserves the plum, as Renault pushes for a merger

Nissan deserves the plum, as Renault pushes for a merger



Operating profit fell 45% to 318 billion yen ($ 2.9 billion) in the financial year ended March, the Japanese machine said in a statement. Revenue fell 3% to around $ 11.6 billion ($ 105 billion), while car sales were down to 4.4% to $ 5.5 million.

This is "bottom floor", said Nirvan's CEO Hiroto Saikawa during the earnings presentation, and warning that the challenges will continue for the foreseeable future.

Nissan ( NSANF ) forecasts operating profit for the fiscal year to March 2020 will fall to $ 230 billion ($ 2.1 billion), well below analyst expectations. Stocks in Nissan ( NSANF ) terminated 3% in Tokyo.
The defective income show Nissan is struggling to continue from the arrest of Ghosn, his former leader, last year. The Alliance Ghosn created between Renault ( RNLSY ) Nissan and Mitsubishi Motors were thrown into turmoil by his charge of alleged economic default.

Renault chairman Jean-Dominic Senard "has an idea in mind that is integration or merger," Saikawa told reporters.

"What we have told Mr. Senard is not the right time to discuss this case, "said Saikawa, noting that he and several other Nissan directors have consistently opposed the merger. [1

965900] Nissan sells more cars and draws more revenue than Renault, but the French company owns a much larger stake in His Japanese partner than vice versa.

Renault has refused to comment on reports that it will merge the two car manufacturers under a new holding company.

Ghosn is now under house arrest in Tokyo, where he is facing charges of financial breach, and claims that he underestimated his income for years and abused his position by transferring personal losses to Nissan

Ghosn denies the charges against him, claiming that fear of a merger caused a rebellion on Nissan o g led to his oyster.
  Carlos Ghosn says he is the victim of a conspiracy of

Nissan's poor performance asked on Tuesday whether Saikawa would soon start from the company.

Requested by a reporter if he had to retire so that Nissan could get a new start, Saikawa said the company's board and shareholders had to weigh that decision.

"At the right time, we will leave to a successor. At this point, I can't say much more," he said.


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