Nissan Cuts Profit Forecast as Japan Recalls Dent Earnings
- Automaker halted some Japan production for about two weeks
- Toyota, Honda both raised annual profit forecast on weaker yen
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Nissan Motor Co. cut its annual profit forecast by almost 6 percent after announcing a recall of vehicles in Japan that went through an inspection process deemed faulty by the government.
The company halted production at domestic plants for local sales since Oct. 19, sending deliveries down by about 50 percent in October, according to the car dealers association in the country. All six factories -- which produce about 1,000 vehicles a day for the Japan market -- restarted output and shipment Wednesday, the automaker said.