business

Nissan cuts forecast in first earnings report since Ghosn's arrest

32 Comments
By Shingo Ito

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First priority in running a company is keeping the shareholders value, especially in a public company. Saikawa blames other factors when he needs to blame himself.

16 ( +18 / -2 )

He said that the firms "respect each other's independence" but strive for "win-win" results by maximising synergies.

Translation: Leave the running of Nissan to us Japanese from now on.

14 ( +16 / -2 )

I for one will never buy another Nissan product until they do right by Ghosn.

Lost me as a customer.

12 ( +14 / -2 )

Imagine being a Nissan employee right now. Must be inspiring.

10 ( +11 / -1 )

Kobe White Bar OwnerToday  06:45 am JST

Saikawa the snake at it again, when you want to get out of the hole first you need to put down the shovel.

Agreed! This snake needs to go as he is the one holding Nissan back currently. No one on the Renault side is going to trust him and without that its pointless being in partnership. I really don't think investors are going to buy into Nissan stock while he is at the helm at Nissan. They need to get someone from outside of Nissan to run it as I would imagine that Saikawa has surrounded himself (as all Japanese heads do) with yes men. Under his leadership Nissan is simply going to sink back in bankruptcy and Im pretty sure no overseas CEO is ever going to risk coming into save that hornets nest ever again!

9 ( +11 / -2 )

Nissan said it was accounting for this under-reported salary -- technically owed to Ghosn -- although Saikawa said that "I personally don't think that we will reach a conclusion to pay this money."

There you go: Saikawa admits that Ghosn's retirement pay was not fixed and therefore Ghosn cannot be convicted on charges of not declaring his income.

9 ( +10 / -1 )

The bottom line is that they are still making a profit of nearly $3 BILLION for the year. Just because it isn't what analysts and soothsayers had expected, it still is not a bad year, better than being in the red, like before Ghosen!

8 ( +11 / -3 )

Good!

8 ( +10 / -2 )

Saikawa the snake at it again, when you want to get out of the hole first you need to put down the shovel.

7 ( +13 / -6 )

Nissan cuts forecast in first earnings report since Ghosn's arrest

Good.

7 ( +10 / -3 )

This guy is the most two faced untrustworthy person, he looks as if he's the emperor, all comfortable in Carlos role, what goes around comes around soon..

7 ( +10 / -3 )

If you can't take the heat, stay out of the kitchen. Ghosn was doing just fine with his receipes till Nissan screwed with the ingredients. Simmering slowly away... Hope this serves as a lesson.

7 ( +9 / -2 )

YubaruToday  07:39 am JST

The bottom line is that they are still making a profit of nearly $3 BILLION for the year. Just because it isn't what analysts and soothsayers had expected, it still is not a bad year, better than being in the red, like before Ghosen!

Agreed Yabaru-san, however its early days yet. Lets see how Nissan is doing in 3 years from now. Im betting that its a down hill slide for here on out. If Nissan has any chance they need Saikawa and Co out as soon as possible and bring in fresh leadership. That would go a long way to settling investor nervousness. Personally I would not touch Nissan stock until he is out!

6 ( +8 / -2 )

Nissan was in loss before Ghosn and Saikawa was part of the executive team. Nissan is in loss after Ghosn and Saikawa is now CEO. I would know who to blame, hopefully the shareholders will as well.

6 ( +8 / -2 )

low morals or low morale?

6 ( +6 / -0 )

A 45% drop in profits since Ghosn’s arrest and that’s only a few months. Bye bye Nissan. You reap what you sow.

5 ( +7 / -2 )

Imagine being a Nissan employee right now. Must be inspiring.

I speak to Nissan employees weekly, even they admit it smells of a corporate coup.

5 ( +6 / -1 )

zones2surf, no translation is needed, as simple as that.

4 ( +7 / -3 )

Sell. Everything must go

4 ( +5 / -1 )

I'm still trying to figure out Saikawa's strategy for declaring a ¥9.2 billion yen loss to cover delayed salary to Ghosn. Salary that he says will never be paid. This will probably come back to bite Saikawa where it hurts too!

4 ( +6 / -2 )

The whole thing with Ghosn is a frame-up. I for one will never buy anything made by Nissan or Mitsubishi. I also once owned a Renault and it broke down almost every day. Let them all reap the consequences of their actions. Plenty of better cars out there. Free Ghosn !!

4 ( +5 / -1 )

Just what they deserve

3 ( +5 / -2 )

dropped 45.2%. Is that a normal drop because it seems like a LOT.

2 ( +3 / -1 )

Well, For all his criminal behavior, it cannot be debated (much as Japan wants to) that he took the company from the red and saved it. These guys forget that, and are now blaming him for it returning to the days before Ghosn in order to further avoid responsibility due to their ineptitude.

2 ( +5 / -3 )

This fall is expected. But are these real figures ???. With such bad materials as head of Nissan, it is the only results , One can expect. Words and sweet talk is over U, S.O.B.

1 ( +3 / -2 )

You real what you sow, Nissan.

1 ( +2 / -1 )

I won't buy Nissan - not because of Ghosen, but simply because they Falsified their performance Statistics and as such can't be trusted.

0 ( +0 / -0 )

The firm blamed growing costs of raw materials and emerging economy foreign exchange declines for its bottom-line profit dropping by 45.2 percent

Toyota slashed its full-year net profit forecast after saying its nine-month figure had tumbled nearly 30 percent

Honda logged a net-profit fall of 34.5 percent for the nine months to December but revised up its full-year forecasts thanks to strong motorcycle sales. 

So other car manufacturers suffer profit decline but Nissan the one that got the highest profit decline. So Saikawa's move by ousting Ghosn just didn't help profit decline right.

-1 ( +1 / -2 )

low morale.

-7 ( +0 / -7 )

Nissan must focus on certain market. Stretch out too long means loss of strength, all Japanese men know that.

-9 ( +1 / -10 )

Kenji Fujimori, Had Japan focused on Chinese market 40 years ago, Toyota, Honda, and Nissan would be the top three automakers by now. How sad and how stupid are the Japanese govt and policies.

-9 ( +1 / -10 )

Nissan employees were suffering from low morals under Ghosn.  It would take time to recover.

-11 ( +1 / -12 )

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