Nissan refers output cut report as entirely ‘incorrect’

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Nissan Motor stated on Friday a report by the Nikkei that it would cut production in 2019 was “completely incorrect” and that it had filed a complaint with the business daily, in uncommonly strong denial of a media report in Japan.

The remark came after the Nikkei, revered in Japan for its business news and noted for its market-moving reports and previews, stated Nissan would slash its worldwide production by about 15 percent for the current fiscal year ending March 2020.

The move would mark a transition away from the expansion campaign promoted by the former Chairman Carlos Ghosn, the Nikkei stated.

“The information reported in this story are entirely incorrect, and Nissan has voiced its strong objection to the Nikkei,” the Japanese automaker stated on its website.

“Nissan’s production plan for the present fiscal year will be revealed on May 14, when the company declares its financial results for the previous fiscal year,” stated automaker.

The Nikkei confirmed it had received the complaint from the automaker. It said it would continue to focus on the issue and promptly report all the facts once they become clear.

The newspaper had previously reported that the automaker aimed to produce about 4.6 million units in fiscal 2019, citing strategies being communicated to the automaker’s providers. The move was likely to impact earnings and could cast a pall over automaker’s alliance with French automaker Renault SA, the Nikkei stated.

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