Nissan's shares rise after restructuring loss heralds turnaround

Although we expect Nissan's performance to recover in the medium term as restructuring charges reduce and new model launches ramp up, the company has exhausted its rating headroom to absorb related short-term shocks and a potential decline in production volumes,

Fitch said in a statement

If this situation goes on for ever, it can be a death blow for Nissan, in a sense that it will run out of cash and default,

Yoshida said, before the profit warning

It is energy costs - it is the cost of everything involved in the cost of labour, [and] training.

Speaking to the House of Commons' Business and Trade Committee on Tuesday, he said

Despite these challenges, we have significant financial resources, a strong product pipeline and the determination to turnaround Nissan in the coming period,

Chief Executive Ivan Espinosa said in a statement

We were not at the same speed, mainly because the Chinese brands were exceptional with speed,

Nissan's China chief Stephen Ma said at the Auto Shanghai industry show

Transferring production means creating capacity, tooling, finding suppliers,

an industry source told AFP

We now anticipate a significant net loss for the year, due primarily to a major asset impairment and restructuring costs as we continue to stabilise the company,

he said

We are taking the prudent step to revise our full-year outlook, reflecting a thorough review of our performance and the carrying value of production assets,

Nissan CEO Ivan Espinosa said in a statement