Thursday , June 17 2021

Ghosn affair and half-mast gains, Nissan in a bad past



Nissan, in a riot after the arrest of former boss Carlos Gosn, also has to deal with a reduction in profits, which has made him reduce his annual forecast yesterday. Between April and December 2018, the Japanese automaker posted a net profit of 45 percent to Yen 316.7 billion ($ 2.87 billion), while sales came across Europe and especially the US, its first market.

"We had an old habit of selling sales always and always using promotions," and other methods, executive executive Hiroto Saikawa told the press, referring to the Gos era at the Volleyball Race. But the group changed its strategy on the US market to "improve the image of the brand" and its profitability, and "that's a big deal," he admitted. In Europe he was also a poor figure, subject to uncertainty about the future form of Brexit, and even declined in early February to collect one of his new models in his giant British factory.

Nissan, an electric pioneer with its Citadine Leaf and Rogue, Qashqai and X-Trail, has done better in Japan where it is recovering from a vehicle inspection scandal and China where it is the most established Japanese brand. Now the manufacturer expects a net profit of 410 billion yen ($ 3.7 billion) for the entire year by the end of March 2019 against $ 500 billion ($ 4.5 billion). earlier discount. Compared to a year earlier, this new forecast represents a 45% reduction. In addition to its operational difficulties, Nissan suffers from the lack of extraordinary profit related to taxation in the United States, which has overstated the accounts in 2017/2018.

The annual turnover is expected to reach 11,600 billion yen (or $ 105 billion), down 2.9% from the previous year for 5.6 million vehicles sold. stagnation during the first nine months.

She is waiting for Senard

Nissan also announced overdue revenues in his accounts that his former boss Carlos Ghosn was accused of not reporting to stock market authorities for the period 2010 to 2018. The sum was estimated at 9.23 billion yen. , $ 5 million), the manufacturer said himself was accused of doing so. This decision is tantamount to engraving the existence of this revenue, weakening Mr Gosn's defense line, rejecting abuses, ensuring "never having signed a contract with Nissan to obtain an undisclosed fixed amount." The French-Japanese alliance, Renault-Nissan-Mitsubishi Motors, is currently being imprisoned in Tokyo, in anticipation of a process that will not interfere for several months. He claims he is the victim of a "plot" by Nissan executives who do not want his plans to integrate the three companies of the world's first car empire (except for heavy trucks).

Yesterday, Hiroto Saikawa insisted several times on the need to ensure autonomy for everyone, two days after the visit of Renault's new president, Jean-Dominique Senar, Nissan headquarters in Yokohama (the suburb of Tokyo). "Restoring trust and good communication" between the two allies is a priority of future discussions, the Japanese official said after months of tension. While Renault holds a 43% stake in Nissan, which owns 15% of Renault, the Ghosn case reveals Nissan's resentment, wanting to rebalance relations and limit the influence of the French state. shareholder of the diamond group. – The Alliance is our strength. However, its value is not in the shares owned by everyone, but in principle they move together, respecting the independence of the three members, insisted Nissan's chief.

With Mr. Senard, who will take part in the board of directors of the Japanese group from April onwards, the issue of President is likely to be considered, a position left free from Mr Goshen's dismissal. But the Japanese manufacturer is not in favor of appointing the same president for Renault and Nissan, according to a close source.

Source: AFP

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