Correspondence opened the desperate position of Nissan

The Japanese automaker turned to creditors in Europe and the UK with a request to provide a deferred payment. Reuters writes about this with reference to the merged emails of the leadership and corporate documents. Thus, the Nissan, experiencing financial disaster, wants to get free funds at least for a short -term perspective in order to cope with current expenses.

Nissan previously persuaded some suppliers to flexible conditions, proposing an installment plan with interest instead of immediate payment. That is, in general, the auto giant will have to pay more, but in the future, and immediately after the conclusion of the transaction, the funds remained at his disposal. The correspondence revealed that the suppliers are “again” asking for a delay: some payments for June will be postponed until mid -August or even until September.

Nissan himself explained that he is going to such measures to ensure “sufficient liquidity” in order to cover the current costs of business restructuring and bond payment. According to internal documents, the company wants to release about 150 million euros, but the Japanese did not confirm this information.

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Over the past financial year, Nissan recorded a net loss of 700–750 billion yen (4.91–5.26 billion US dollars) – anti -record in the history of the manufacturer. Ivan Espinoza, his new general director, launched a large -scale restructuring program. Its goals are reducing expenses, revising product and market strategies, as well as partnerships.

According to the Expinosis, Nissan was crisis due to the too large ambitions of the former leadership: huge funds were invested in the expansion of the plants, but the company did not achieve the planned goals either in production or in sales.

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