Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Nissan Motor Co., Ltd.    7201   JP3672400003

NISSAN MOTOR CO., LTD.

(7201)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

France warns Renault could disappear; Nissan plans job cuts

05/22/2020 | 06:51am EST
French PM holds presser over latest decisions on lifting of lockdown from Monday

By Sudip Kar-Gupta and Naomi Tajitsu

Europe's car industry was put on alert for more job losses on Friday as a French minister warned Renault could disappear if it didn't get help soon and a Japanese news report said partner Nissan was considering 20,000 layoffs, with many in Europe.

Renault and Nissan have been in a carmaking alliance for the past two decades and are due to announce a strategy update next Wednesday.

The plan was originally billed as a reset of their relationship, which was rocked by the November 2018 arrest in Japan of the alliance's architect and long-time boss Carlos Ghosn on charges of financial misconduct, which he denies.

However, the update has taken on greater significance since the coronavirus pandemic hammered demand for vehicles and threw production into disarray.

French finance minister Bruno Le Maire, who is considering a 5 billion euro ($5.5 billion) loan for Renault to help it through the crisis, warned on Friday the company's future was at stake.

"Yes, Renault could disappear," he told Europe 1 radio.

Le Maire said Renault's French plant in Flins mustn't close and the company should be able to keep as many jobs as possible in France, but also said it needed to adapt and be competitive.

Renault declined to comment on Le Maire's remarks.

The Flins factory, northwest of Paris, is where Renault makes its electric Zoe models and the Micra car for Nissan. It employed around 2,640 people at the end of 2018, according to Renault's website.

The company has 40 plants and 13 logistics sites in 16 countries.

SCALING BACK

Kyodo, meanwhile, said Nissan might axe 20,000 jobs from its global workforce, mainly in Europe and developing countries.

Two people with knowledge of the matter told Reuters the number of cuts had not been finalised.

Nissan declined to comment.

The Japanese automaker said in July last year it would cut 12,500 employees, nearly 10% of its of 140,000-strong workforce. If it raises that figure to 20,000, it would broadly match the number of jobs it shed during the 2009 global financial crisis.

Sources familiar with the matter told Reuters earlier this month that Nissan's management had become convinced it needed to be much smaller and would likely cut 1 million cars from its annual sales target, while seeing a bigger role for the United States and China in car sales.

Sources have also said it plans to scale back its European business to focus on sport-utility and commercial vehicles, including possibly closing a plant in Spain, which employs around 3,000 people.

Hit by over-capacity, stiff competition and flagging demand, Europe's car industry has seen a steady stream of job losses, with Germany's Volkswagen announcing in December up to 9,500 cuts at its Audi brand.

So far, most of the layoffs during the coronavirus crisis have been temporary, however, with companies taking advantage of government-backed furlough schemes.

(Additional reporting by Dominique Vidalon in Paris and Maki Shiraki in Tokyo; Editing by Mark Potter and Carmel Crimmins)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AUDI AG -0.61% 1630 End-of-day quote.103.75%
MITSUBISHI MOTORS CORPORATION -0.87% 228 End-of-day quote.5.07%
NISSAN MOTOR CO., LTD. -1.13% 532.7 End-of-day quote.-4.87%
PEUGEOT SA -4.21% 21.85 Real-time Quote.-2.32%
RENAULT -0.10% 34.07 Real-time Quote.-4.73%
VOLKSWAGEN AG -0.95% 150.8 Delayed Quote.-0.35%
All news about NISSAN MOTOR CO., LTD.
12:04aNISSAN MOTOR : and NISMO announce 2021 Super GT GT500 class driver lineup
PU
01/15NISSAN MOTOR : and Enel present E-ASY ELECTRIC the new integrated solution for e..
AQ
01/15Trump's China tech war backfires on automakers as chips run short
RE
01/14Ghosn hid scale of Nissan salary, fearing dismissal from Renault, Tokyo court..
RE
01/14Ghosn hid scale of Nissan salary, fearing dismissal from Renault, Tokyo court..
RE
01/14New Renault boss plans leaner, electric future
RE
01/14New Renault boss plans leaner, electric future
RE
01/14Subaru to cut Japan and U.S. output, citing chip shortage
RE
01/14NISSAN MOTOR : CEO says Renault's strategic plan is strong
RE
01/14Subaru to cut output at plants in Japan, U.S. due to global chip shortage
RE
More news
Financials
Sales 2021 7 774 B 74 933 M 74 933 M
Net income 2021 -477 899 M -4 606 M -4 606 M
Net Debt 2021 6 232 B 60 071 M 60 071 M
P/E ratio 2021 -4,37x
Yield 2021 -
Capitalization 2 084 B 20 082 M 20 092 M
EV / Sales 2021 1,07x
EV / Sales 2022 0,94x
Nbr of Employees 136 134
Free-Float 45,6%
Chart NISSAN MOTOR CO., LTD.
Duration : Period :
Nissan Motor Co., Ltd. Technical Analysis Chart | 7201 | JP3672400003 | MarketScreener
Technical analysis trends NISSAN MOTOR CO., LTD.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 20
Average target price 565,89 JPY
Last Close Price 532,70 JPY
Spread / Highest target 178%
Spread / Average Target 6,23%
Spread / Lowest Target -38,1%
EPS Revisions
Managers and Directors
NameTitle
Makoto Uchida Executive President & Chief Executive Officer
Yasushi Kimura Chairman
Ashwani Gupta COO & Representative Executive Officer
Stephen Ma Chief Financial Officer & Executive Officer
Anthony Thomas Chief Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
NISSAN MOTOR CO., LTD.-4.87%20 082
TOYOTA MOTOR CORPORATION-2.82%208 300
VOLKSWAGEN AG-0.35%97 768
DAIMLER AG-2.65%72 771
GENERAL MOTORS COMPANY20.00%71 522
BMW AG-3.90%54 163