TOKYO: Nissan issued a profit warning on Wednesday, deepening the woes of the Japanese car giant as it seeks to recover from the shock of former boss Carlos Ghosn's arrest. Nissan appeared to acknowledge the recent difficulties surrounding the Ghosn affair, which has cast questions over the company's own corporate governance. The profit warning came as ex-chairman Ghosn awaits his fate after prosecutors hit him with a fourth set of charges over alleged financial misconduct. In February, Nissan already slashed its full-year forecast, as it revealed that nine-month net profit had dropped 45 percent -- a decline the firm blamed on rising raw material costs and foreign exchange difficulties. It was forced to downgrade its net profit forecast for the fiscal year to March to 410 billion yen, compared to 500 billion yen earlier.

Source: Bangkok Post April 24, 2019 06:33 UTC