Nissan Plans to Shuts Plants After Worst Loss in Years

Nissan Motor Co. vowed to close seven factories and slash 20,000 jobs after posting one of its biggest annual losses since French carmaker Renault SA rescued it from near bankruptcy a quarter century ago.

The Japanese automaker decided against issuing an operating profit forecast for the fiscal year ending March 2026, and reported a net loss of ¥670.9 billion ($4.5 billion) for the year that ended in March.