Nissan To Close Plants In Spain And Indonesia

Nissan announced a four-year plan to improve its financial situation by focusing on cost rationalization and business optimization, moving away from its previous strategy of expansion. The plan includes closing unprofitable facilities, which led to protests in Spain due to job losses. The announcement follows a fiscal year with $6.2 billion in losses, marking Nissan's first annual loss since 2009. The company aims for a 5% operating profit margin and a 6% global market share by the end of fiscal year 2023.

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