Nissan posts 70% quarterly profit drop, slashes full-year outlook

Nissan Motor is revising its full-year forecast for sales as it braces for its worst annual sales in six years. This came as its quarterly earnings report fell far behind expectations. Net profit for the six months to September plunged over 73% to 65.4 billion yen, the worst first-half result since the global financial crisis a decade ago. A strong yen, an uncertain global outlook and the stagnation of the car industry in general were blamed for this poor outlook.

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