Japan’s Nissan Motor to cut 11,000 jobs; swings to yr-to-Mar ’25 loss

SINGAPORE (ICIS)–Japanese automaker Nissan Motor Corp announced on Tuesday a slate of new cost-saving measures, including job cuts of 11,000, after swinging to a net loss of yen (Y) 670.9 billion ($4.5 billion) in the fiscal year ending 31 March 2025.

in Japanese yen (Y) billion	1 April 2024-31 March 2025 (FY 2024)	1 April 2023-31 March 2024 (FY 2023)	% Change
Net Revenue	12,633.20	12,685.70	-0.4
Operating Profit	69.8	568.7	-87.7
Net Income	-670.9	426.6

Global sales stood at 3.346 million units, impacted by intensified sales competition.

The latest results come after the collapse of multi-billion-dollar merger talks with rival Honda in February 2025 and follows a November 2024 announcement of 9,000 job cuts.

The latest reductions will bring the total job losses at Japan’s third-largest carmaker to around 20,000 in the last fiscal year.

Nissan also plans to streamline its production by reducing its global plant count from 17 to 10 by 2027.

Petrochemicals make up roughly a third of an average vehicle’s raw material costs.

The automotive industry is a crucial driver of demand for chemicals such as polypropylene (PP), nylon, polystyrene (PS), and styrene butadiene rubber (SBR).

Nissan said that it expects business to “continue be challenging with intense competition, forex and inflationary pressure”.

“Yet, our efforts related [to] U.S. Tariff policy under our mitigation strategy, we are prioritizing US-built products, optimizing local capacity, reallocating tariff-exposed production, and working closely with suppliers to localize and adapt swiftly to market demands,” the company said.

“Given the uncertainty related to tariff environment, the guidance for operating profit, net income and auto free cash flow for the fiscal year are currently to be determined,” it added.

($1 = Y147.9)