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Nissan: unveils Transformation Plan

( - Nissan today unveiled a four-year plan to achieve sustainable growth, financial stability and profitability by the end of FY 2023.

Nissan will take decisive steps to transform its business by streamlining unprofitable operations and surplus facilities, in parallel with structural reforms. The company will also reduce its fixed costs by streamlining its production capacity, global product range and spending.

Nissan aims to achieve an operating margin of 5% and a global market share of 6% by the end of fiscal year 2023.

The group will mainly reduce its production capacity by 20% to 5.4 million units per year, cutting its global product range by 20% (from 69 to below 55 models), cut its fixed costs by approximately 300 billion yen and close the Barcelona plant in Europe.

Nissan will focus its core business on the markets of Japan, China and North America.

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