The automaker posted disappointing second-quarter results and announced reductions in production and staff.
Shares of Japanese automaker Nissan tumbled as much as 10.12%, a day after the company posted downbeat quartely results and said it would reduce global production capacity by 20%.
Shares of the company — which also announced plans to cut staff by 9,000 — hit a four-year intraday low of 368.5 yen on Friday, its weakest since September 2020on Thursday, which showed that it recorded a 9.3 billion yen net loss, a reversal from the 190.7 billion yen net profit it made in the same quarter last year.
The company board chose to not pay an interim dividend, and also scrapped the year-end dividend forecast.
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