Nissan Motor sees a record net loss of 700 billion yen to 750 billion yen ($4.91 billion-$5.26 billion) for the financial year that ended in March, it said on Thursday, due to impairment charges as the struggling automaker restructures.

Nissan expects to rack up a loss totaling 700 billion yen ($4.9 billion) to 750 billion yen ($5.3 billion) for the fiscal year through March because of declining sales and the losing value of its assets,

Nissan Motor Co. said it will post a net loss of as much as ¥750 billion ($5.3 billion) for the fiscal year that ended in March as restructuring charges weigh on the struggling Japanese carmaker that’s seeking a turnaround.