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Nissan denies reports on cut production

2019-04-19T22:09:57.995Z

Japan's Nissan Motor Co. has denied a report by the Nikkei group that the company plans to cut production by about 15% worldwide during the fiscal year ending in March 2020, in retaliation for the company's extensive expansion campaign The reign of a president


Japan's Nissan Motor Co. has denied a report by the Nikkei group that the company plans to cut production by about 15% worldwide during the fiscal year ending in March 2020, in retaliation for the company's extensive expansion campaign The reign of its former president, Carlos Ghosn.

The Nikkei group said that Nissan plans to produce 4.6 million cars in fiscal year 2019, the company's lowest production rate in nine years.

Nissan confirmed that the details provided by Nikkei were not true at all and expressed strong opposition to the Japanese media group. Nissan said it would disclose its production plan for the current fiscal year on May 14, when it announced its financial results for the previous fiscal year.

The Japanese Broadcasting Corporation said yesterday that prosecutors in Tokyo will likely face another charge of dishonesty to Ghosn at an early date, possibly next Monday, when his current detention is over.

Ghosn was arrested this month, for the fourth time on suspicion of trying to win at the expense of Nissan, the seizure of five million dollars.

Ghosn is awaiting trial on other charges, including financial irregularities and breach of trust.

Ghosn, who denied all charges, was released on bail of nine million dollars in early March after spending 108 days in prison.

Source: emara

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