NISSAN CONSIDERS CLOSING 2 KANAGAWA PLANTS IN RESTRUCTING PUSH - TOKYO JAPAN

NISSAN CONSIDERS CLOSING 2 KANAGAWA PLANTS IN RESTRUCTING PUSH - TOKYO JAPAN

@Jr_Paku Midin Channel

TOKYO

Nissan Motor Co is considering closing two plants in Kanagawa Prefecture, near Tokyo, as part of its restructuring plans, a company source said Saturday.

Japan's third-biggest automaker by volume said earlier this week it will shut seven vehicle plants and cut 20,000 jobs globally after logging a net loss of 670.90 billion yen for fiscal 2024.

The two plants are Nissan's main Oppama plant, where the company pioneered electric vehicle production, and the Shonan plant of its unit Nissan Shatai Co, which builds commercial vehicles. Together, the two plants make up about 30 percent of Nissan's domestic production capacity.

Whether the closures will go ahead remains uncertain, however, as the company has yet to hold talks with labor unions, parts makers or municipalities hosting the plants, the source said.

As for its overseas operations, Nissan has already announced it will close one plant in India and another in Argentina.

At a press conference on Tuesday to announce its financial results, Nissan, which has been grappling with poor sales in the United States and China, said it will reduce its total workforce by around 15 percent. It will also reduce its vehicle plants from 17 to 10 by fiscal 2027.

It also said it plans to shrink global output capacity, excluding China, by 30 percent to 2.5 million units by fiscal 2027, with the expectation that the cost-cutting measures will help it return to profitability by fiscal 2026.

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@Jr_Paku Midin Channel