Nissan Motor Co. CEO Hiroto Saikawa warned the company’s earnings will drop to “rock bottom” before improving but outlined plans to restore global operating profit margin to 6 percent and reboot the flagging U.S. business. Saikawa’s dour outlook came Tuesday as Japan’s No. 2 automaker reported a 45 percent plunge in operating profit in the fiscal year ended March 31. Net income dropped 57 percent.
And Saikawa, battling to reform Nissan in the wake of a corporate governance scandal triggered by the arrest of former Chairman Carlos Ghosn, pulled no punches about the outlook.
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