Nissan abandons Ghosn's US strategy after earnings plunge
Nikkei -- May 15
Nissan Motor will reverse the bullish expansion strategy led by former chairman Carlos Ghosn in pursuit of more moderate growth after its worst earnings performance in more than a decade.

Nissan said net profit in the fiscal year ending in March 2020 would fall 47% to 170 billion yen ($1.5 billion), based on an assumption that the yen will trade around 110.0 against the U.S. dollar during the year, from around 110.9 yen in the year just ended.

The company expects annual revenue to fall to 11.3 trillion yen, down 2.4%, with operating profit to slide 27% to 230 billion yen.

"We made a start after getting out of an unexpected event, but we still have accumulated issues," said Nissan CEO Hiroto Saikawa. "A majority of the problems is an outcome of the negative legacy from our previous structure. Our current focus is to get out of the sluggish earnings result."

"We will restructure our earnings as soon as possible to return to shareholders," said Saikawa, apologizing for cutting the company's expected dividend to 40 yen per share for the year to March 2020, down from 57 yen for the year ended in March.

Japan's second-biggest automaker said it will sell 5.54 million vehicles globally this fiscal year, and produce 5.40 million units, a slight increase from the 5.36 million units in the year ended in March.

Weak sales in its core U.S. market, as well as additional expenses arising from incentives to car dealers -- a costly discount strategy strategy employed by Ghosn to boost market share -- are still weighing heavily on the beleaguered company.

News source: Nikkei
Jul 17
Over two weeks of cloudy and rainy days in Tokyo and nearby areas has resulted in higher vegetable prices and sluggish sales of summer clothing. (Japan Times)
Jul 17
U.S. investment firm Blackstone Group will spend over 100 billion yen ($926 million) to buy distribution centers in Japan, seeing room for growth in the country's relatively small e-commerce market, Nikkei has learned. (Nikkei)
Jul 15
Japan's 100-yen shops are stepping up store openings as they continue to gain ground among thrifty consumers, with supermarkets and drugstores seeking them out as tenants to draw customers, shifting the dynamic in the nation's retail landscape. (Nikkei)
Jul 13
Japanese cryptocurrency exchange operator Bitpoint has lost 3.5 billion yen ($32 million) in a hacking attack, parent company Remixpoint announced on Friday. (Nikkei)
Jul 12
Japan's national mint has begun making the first coins featuring the new era name Reiwa. (NHK)
Jul 12
Seoul has pointed to its interceptions of illegally exported sensitive materials to discredit Japan's claim that South Korea lacks a proper monitoring regime, prompting an immediate rebuttal from Tokyo, as bilateral relations appear to plumb another low. (Nikkei)
Jul 10
South Korea has criticized Japan at a meeting of the World Trade Organization over Tokyo's tighter export requirements for some high-tech materials. (NHK)
Jul 10
Japan's three biggest online brokerages are in a race to lower trading fees, opting to eliminate minimum charges levied on U.S. stock trades. (Nikkei)
Jul 09
Budget restaurant chains in Japan that are struggling with sluggish sales are wondering: Where are all the "wandering salarymen"? (Nikkei)
Jul 09
When it comes to Search Engine Optimization (SEO), link-building remains as one of the most powerful tools every brand should capitalize on. However, gaining the best link-building experience is no overnight success. Tactics that deliver long-term results are always contingent on having a well-crafted, step-by-step plan that is both concrete and measurable. (newsonjapan.com)