Nissan to set out survival plan after expected annual loss

By Naomi Tajitsu TOKYO (Reuters) - Nissan Motor Co will unveil its plan to become a smaller, more cost-efficient automaker on Thursday as it looks to recover from four years of tumbling profits which are set to culminate in its first annual operating loss in 11 years. The Japanese carmaker's second recovery plan in less than a year will outline how it will slash fixed costs, streamline its products and shore up cash as it reels from a plunge in sales as the coronavirus pandemic hits demand for cars. Nissan said in April that it expected to post an annual operating loss of up to 45 billion yen (340.3 million pounds) when it announces its results for the year to March 31 at 0800GMT on Thursday, which would be its worst performance since 2008/09.

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