By Gokhan Ergocun
ISTANBUL (AA) - Japanese automotive firm Nissan Motor reported a net loss of 221.9 billion yen ($1.44 billion) for the April-September 2025 period.
The loss largely stemmed from the negative impact of US tariffs on Japan's automotive sector, the firm stated on Thursday.
Meanwhile, due to poor performance in Japan and China, the company's global vehicle sales declined by 7.3% to 1.48 million units.
As part of its revitalization program, Nissan will sell its headquarters building in Yokohama for 97 billion yen ($632 million).
Proceeds from the sale of the headquarters building will be allocated to facility renovations, digitalization of operations, and R&D funding.
Nissan announced that it will also shut down its Oppama plant in Japan at the end of fiscal year 2027 and its Cuernavaca plant in Mexico in March 2026.
The company had announced that it would reduce the number of its global production facilities from 17 to 10 and cut its global manufacturing capacity from 3.5 million to 2.5 million.