Nissan says it 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.

Struggling Japanese auto giant Nissan issued a stark profit warning on Thursday, forecasting a huge loss of up to $5.3 billion in the 2024-25 financial year.

Towards the end of last year, alarm bells were sounded at the company, which was described as being 'on the brink of collapse' with 'just 12 months to survive'.