Latest news with #Note
The Advertiser
5 days ago
- Automotive
- The Advertiser
Nissan to close two factories in Japan
Nissan is in financial hot water, but it is hoping to lower the temperature a tad by dumping two factories in its homeland. The Oppama factory was opened in 1961, and has concentrated on building small cars. During its long history the plant has produced the Bluebird, Pulsar, Sylphy, Primera, Serena, Juke, Leaf, Tiida, March/Micra, and Cube. In 2007 the factory celebrated making its 15 millionth vehicle. Today, though, it produces just the Note (below) and Note Aura, a tall hatch that competes with the Honda Jazz/Fit. Manufacturing will cease in Oppama by March 2028, and Note production will be moved to Nissan's factory in Kyushu. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. Around 2400 of the site's 3900 employees will be laid off. Other facilities surrounding the Oppama factory, including research centre, crash test facility, wharf, and Grandrive proving ground will continue to operate. The company also confirmed it would cease production at the factory in Shonan. This plant currently produces the NV200 Vanette and AD wagon van, and is operated by Nissan Shatai, of which Nissan only owns 50 per cent. The AD wagon van, which debuted way back in 2006, will end its production run in October this year, while the NV200's innings will end in March 2027. The current NV200 was launched in 2009, and once served as New York City's official taxi. It will be replaced a new model that's due to released by 2028. It's safe to say both Oppama and Shonan are running well below their maximum of capacity of 240,000 and 150,000 vehicles per year. Closing both plants, and moving their production elsewhere will help Nissan reduce its overcapacity problem and reduce headcount. Once these two factories are closed, Nissan will have three car plants in its homeland: one in Tochigi, and two in Kyushu. As part of its latest turnaround plan, dubbed Re:Nissan, the automaker wants to reduce its production capacity, outside of China, from the current 3.5 million cars per year to 2.5 million. It aims to close seven of its 17 car manufacturing plants, but so far only Shonan and Oppama have been confirmed. A Reuters report in May indicated Nissan is considering closing factories in South Africa and Argentina, and consolidating its manufacturing facilities in Mexico. It will remove the factory in India from its books by selling it to Alliance partner Renault. One plant is officially safe from the gallows: Sunderland, UK, which produces the Qashqai, Juke and Leaf. It's likely the company's factories in the US will be spared the chop too. Nissan has been skating on thin financial ice for about two years, and in May announced a loss of ¥670.9 billion (A$7.1 billion) for the financial year ending March 2025. In response, new Nissan CEO Ivan Espinosa unveiled the Re:Nissan recovery plan, which in addition to plant closures will cut its global workforce by 15 per cent or 20,000 people, set up a cost-cutting "transformation office", and has paused development of vehicles and technology due for launch after March 2027. The automaker is also considering selling its headquarters in Yokohama. MORE: Everything Nissan Content originally sourced from: Nissan is in financial hot water, but it is hoping to lower the temperature a tad by dumping two factories in its homeland. The Oppama factory was opened in 1961, and has concentrated on building small cars. During its long history the plant has produced the Bluebird, Pulsar, Sylphy, Primera, Serena, Juke, Leaf, Tiida, March/Micra, and Cube. In 2007 the factory celebrated making its 15 millionth vehicle. Today, though, it produces just the Note (below) and Note Aura, a tall hatch that competes with the Honda Jazz/Fit. Manufacturing will cease in Oppama by March 2028, and Note production will be moved to Nissan's factory in Kyushu. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. Around 2400 of the site's 3900 employees will be laid off. Other facilities surrounding the Oppama factory, including research centre, crash test facility, wharf, and Grandrive proving ground will continue to operate. The company also confirmed it would cease production at the factory in Shonan. This plant currently produces the NV200 Vanette and AD wagon van, and is operated by Nissan Shatai, of which Nissan only owns 50 per cent. The AD wagon van, which debuted way back in 2006, will end its production run in October this year, while the NV200's innings will end in March 2027. The current NV200 was launched in 2009, and once served as New York City's official taxi. It will be replaced a new model that's due to released by 2028. It's safe to say both Oppama and Shonan are running well below their maximum of capacity of 240,000 and 150,000 vehicles per year. Closing both plants, and moving their production elsewhere will help Nissan reduce its overcapacity problem and reduce headcount. Once these two factories are closed, Nissan will have three car plants in its homeland: one in Tochigi, and two in Kyushu. As part of its latest turnaround plan, dubbed Re:Nissan, the automaker wants to reduce its production capacity, outside of China, from the current 3.5 million cars per year to 2.5 million. It aims to close seven of its 17 car manufacturing plants, but so far only Shonan and Oppama have been confirmed. A Reuters report in May indicated Nissan is considering closing factories in South Africa and Argentina, and consolidating its manufacturing facilities in Mexico. It will remove the factory in India from its books by selling it to Alliance partner Renault. One plant is officially safe from the gallows: Sunderland, UK, which produces the Qashqai, Juke and Leaf. It's likely the company's factories in the US will be spared the chop too. Nissan has been skating on thin financial ice for about two years, and in May announced a loss of ¥670.9 billion (A$7.1 billion) for the financial year ending March 2025. In response, new Nissan CEO Ivan Espinosa unveiled the Re:Nissan recovery plan, which in addition to plant closures will cut its global workforce by 15 per cent or 20,000 people, set up a cost-cutting "transformation office", and has paused development of vehicles and technology due for launch after March 2027. The automaker is also considering selling its headquarters in Yokohama. MORE: Everything Nissan Content originally sourced from: Nissan is in financial hot water, but it is hoping to lower the temperature a tad by dumping two factories in its homeland. The Oppama factory was opened in 1961, and has concentrated on building small cars. During its long history the plant has produced the Bluebird, Pulsar, Sylphy, Primera, Serena, Juke, Leaf, Tiida, March/Micra, and Cube. In 2007 the factory celebrated making its 15 millionth vehicle. Today, though, it produces just the Note (below) and Note Aura, a tall hatch that competes with the Honda Jazz/Fit. Manufacturing will cease in Oppama by March 2028, and Note production will be moved to Nissan's factory in Kyushu. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. Around 2400 of the site's 3900 employees will be laid off. Other facilities surrounding the Oppama factory, including research centre, crash test facility, wharf, and Grandrive proving ground will continue to operate. The company also confirmed it would cease production at the factory in Shonan. This plant currently produces the NV200 Vanette and AD wagon van, and is operated by Nissan Shatai, of which Nissan only owns 50 per cent. The AD wagon van, which debuted way back in 2006, will end its production run in October this year, while the NV200's innings will end in March 2027. The current NV200 was launched in 2009, and once served as New York City's official taxi. It will be replaced a new model that's due to released by 2028. It's safe to say both Oppama and Shonan are running well below their maximum of capacity of 240,000 and 150,000 vehicles per year. Closing both plants, and moving their production elsewhere will help Nissan reduce its overcapacity problem and reduce headcount. Once these two factories are closed, Nissan will have three car plants in its homeland: one in Tochigi, and two in Kyushu. As part of its latest turnaround plan, dubbed Re:Nissan, the automaker wants to reduce its production capacity, outside of China, from the current 3.5 million cars per year to 2.5 million. It aims to close seven of its 17 car manufacturing plants, but so far only Shonan and Oppama have been confirmed. A Reuters report in May indicated Nissan is considering closing factories in South Africa and Argentina, and consolidating its manufacturing facilities in Mexico. It will remove the factory in India from its books by selling it to Alliance partner Renault. One plant is officially safe from the gallows: Sunderland, UK, which produces the Qashqai, Juke and Leaf. It's likely the company's factories in the US will be spared the chop too. Nissan has been skating on thin financial ice for about two years, and in May announced a loss of ¥670.9 billion (A$7.1 billion) for the financial year ending March 2025. In response, new Nissan CEO Ivan Espinosa unveiled the Re:Nissan recovery plan, which in addition to plant closures will cut its global workforce by 15 per cent or 20,000 people, set up a cost-cutting "transformation office", and has paused development of vehicles and technology due for launch after March 2027. The automaker is also considering selling its headquarters in Yokohama. MORE: Everything Nissan Content originally sourced from: Nissan is in financial hot water, but it is hoping to lower the temperature a tad by dumping two factories in its homeland. The Oppama factory was opened in 1961, and has concentrated on building small cars. During its long history the plant has produced the Bluebird, Pulsar, Sylphy, Primera, Serena, Juke, Leaf, Tiida, March/Micra, and Cube. In 2007 the factory celebrated making its 15 millionth vehicle. Today, though, it produces just the Note (below) and Note Aura, a tall hatch that competes with the Honda Jazz/Fit. Manufacturing will cease in Oppama by March 2028, and Note production will be moved to Nissan's factory in Kyushu. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. Around 2400 of the site's 3900 employees will be laid off. Other facilities surrounding the Oppama factory, including research centre, crash test facility, wharf, and Grandrive proving ground will continue to operate. The company also confirmed it would cease production at the factory in Shonan. This plant currently produces the NV200 Vanette and AD wagon van, and is operated by Nissan Shatai, of which Nissan only owns 50 per cent. The AD wagon van, which debuted way back in 2006, will end its production run in October this year, while the NV200's innings will end in March 2027. The current NV200 was launched in 2009, and once served as New York City's official taxi. It will be replaced a new model that's due to released by 2028. It's safe to say both Oppama and Shonan are running well below their maximum of capacity of 240,000 and 150,000 vehicles per year. Closing both plants, and moving their production elsewhere will help Nissan reduce its overcapacity problem and reduce headcount. Once these two factories are closed, Nissan will have three car plants in its homeland: one in Tochigi, and two in Kyushu. As part of its latest turnaround plan, dubbed Re:Nissan, the automaker wants to reduce its production capacity, outside of China, from the current 3.5 million cars per year to 2.5 million. It aims to close seven of its 17 car manufacturing plants, but so far only Shonan and Oppama have been confirmed. A Reuters report in May indicated Nissan is considering closing factories in South Africa and Argentina, and consolidating its manufacturing facilities in Mexico. It will remove the factory in India from its books by selling it to Alliance partner Renault. One plant is officially safe from the gallows: Sunderland, UK, which produces the Qashqai, Juke and Leaf. It's likely the company's factories in the US will be spared the chop too. Nissan has been skating on thin financial ice for about two years, and in May announced a loss of ¥670.9 billion (A$7.1 billion) for the financial year ending March 2025. In response, new Nissan CEO Ivan Espinosa unveiled the Re:Nissan recovery plan, which in addition to plant closures will cut its global workforce by 15 per cent or 20,000 people, set up a cost-cutting "transformation office", and has paused development of vehicles and technology due for launch after March 2027. The automaker is also considering selling its headquarters in Yokohama. MORE: Everything Nissan Content originally sourced from:
7NEWS
5 days ago
- Automotive
- 7NEWS
Nissan to close two factories in Japan
Nissan is in financial hot water, but it is hoping to lower the temperature a tad by dumping two factories in its homeland. The Oppama factory was opened in 1961, and has concentrated on building small cars. During its long history the plant has produced the Bluebird, Pulsar, Sylphy, Primera, Serena, Juke, Leaf, Tiida, March/Micra, and Cube. In 2007 the factory celebrated making its 15 millionth vehicle. Today, though, it produces just the Note (below) and Note Aura, a tall hatch that competes with the Honda Jazz /Fit. Manufacturing will cease in Oppama by March 2028, and Note production will be moved to Nissan's factory in Kyushu. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. Around 2400 of the site's 3900 employees will be laid off. Other facilities surrounding the Oppama factory, including research centre, crash test facility, wharf, and Grandrive proving ground will continue to operate. The company also confirmed it would cease production at the factory in Shonan. This plant currently produces the NV200 Vanette and AD wagon van, and is operated by Nissan Shatai, of which Nissan only owns 50 per cent. The AD wagon van, which debuted way back in 2006, will end its production run in October this year, while the NV200's innings will end in March 2027. The current NV200 was launched in 2009, and once served as New York City's official taxi. It will be replaced a new model that's due to released by 2028. It's safe to say both Oppama and Shonan are running well below their maximum of capacity of 240,000 and 150,000 vehicles per year. Closing both plants, and moving their production elsewhere will help Nissan reduce its overcapacity problem and reduce headcount. Once these two factories are closed, Nissan will have three car plants in its homeland: one in Tochigi, and two in Kyushu. As part of its latest turnaround plan, dubbed Re:Nissan, the automaker wants to reduce its production capacity, outside of China, from the current 3.5 million cars per year to 2.5 million. It aims to close seven of its 17 car manufacturing plants, but so far only Shonan and Oppama have been confirmed. A Reuters report in May indicated Nissan is considering closing factories in South Africa and Argentina, and consolidating its manufacturing facilities in Mexico. It will remove the factory in India from its books by selling it to Alliance partner Renault. One plant is officially safe from the gallows: Sunderland, UK, which produces the Qashqai, Juke and Leaf. It's likely the company's factories in the US will be spared the chop too. Nissan has been skating on thin financial ice for about two years, and in May announced a loss of ¥670.9 billion (A$7.1 billion) for the financial year ending March 2025. In response, new Nissan CEO Ivan Espinosa unveiled the Re:Nissan recovery plan, which in addition to plant closures will cut its global workforce by 15 per cent or 20,000 people, set up a cost-cutting 'transformation office', and has paused development of vehicles and technology due for launch after March 2027. The automaker is also considering selling its headquarters in Yokohama.
Perth Now
5 days ago
- Automotive
- Perth Now
Nissan to close two factories in Japan
Nissan is in financial hot water, but it is hoping to lower the temperature a tad by dumping two factories in its homeland. The Oppama factory was opened in 1961, and has concentrated on building small cars. During its long history the plant has produced the Bluebird, Pulsar, Sylphy, Primera, Serena, Juke, Leaf, Tiida, March/Micra, and Cube. In 2007 the factory celebrated making its 15 millionth vehicle. Today, though, it produces just the Note (below) and Note Aura, a tall hatch that competes with the Honda Jazz/Fit. Manufacturing will cease in Oppama by March 2028, and Note production will be moved to Nissan's factory in Kyushu. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. Supplied Credit: CarExpert Supplied Credit: CarExpert Around 2400 of the site's 3900 employees will be laid off. Other facilities surrounding the Oppama factory, including research centre, crash test facility, wharf, and Grandrive proving ground will continue to operate. The company also confirmed it would cease production at the factory in Shonan. This plant currently produces the NV200 Vanette and AD wagon van, and is operated by Nissan Shatai, of which Nissan only owns 50 per cent. The AD wagon van, which debuted way back in 2006, will end its production run in October this year, while the NV200's innings will end in March 2027. The current NV200 was launched in 2009, and once served as New York City's official taxi. It will be replaced a new model that's due to released by 2028. Supplied Credit: CarExpert It's safe to say both Oppama and Shonan are running well below their maximum of capacity of 240,000 and 150,000 vehicles per year. Closing both plants, and moving their production elsewhere will help Nissan reduce its overcapacity problem and reduce headcount. Once these two factories are closed, Nissan will have three car plants in its homeland: one in Tochigi, and two in Kyushu. As part of its latest turnaround plan, dubbed Re:Nissan, the automaker wants to reduce its production capacity, outside of China, from the current 3.5 million cars per year to 2.5 million. It aims to close seven of its 17 car manufacturing plants, but so far only Shonan and Oppama have been confirmed. A Reuters report in May indicated Nissan is considering closing factories in South Africa and Argentina, and consolidating its manufacturing facilities in Mexico. It will remove the factory in India from its books by selling it to Alliance partner Renault. Supplied Credit: CarExpert One plant is officially safe from the gallows: Sunderland, UK, which produces the Qashqai, Juke and Leaf. It's likely the company's factories in the US will be spared the chop too. Nissan has been skating on thin financial ice for about two years, and in May announced a loss of ¥670.9 billion (A$7.1 billion) for the financial year ending March 2025. In response, new Nissan CEO Ivan Espinosa unveiled the Re:Nissan recovery plan, which in addition to plant closures will cut its global workforce by 15 per cent or 20,000 people, set up a cost-cutting 'transformation office', and has paused development of vehicles and technology due for launch after March 2027. The automaker is also considering selling its headquarters in Yokohama. MORE: Everything Nissan
Yahoo
5 days ago
- Automotive
- Yahoo
Nissan to cease production at its Oppama plant
Nissan Motor Company announced that it plans to shut down vehicle production at its Oppama plant in Japan's Kanagawa Prefecture at the end of the 2027 fiscal year. The decision is part of a previously-announced, Re:Nissan global restructuring plan in which the company said it plans to close seven of its seventeen vehicle assembly plants currently in operation globally. The Oppama plant was originally opened in 1961 and currently produces the Note and Note Aura compact models, employing around 2,400 people. Production will be transferred to the company's plant in Kyushu, Fukuoka Prefecture. The Japanese automaker confirmed that the decision only affects the Oppama assembly plant, within the Oppama district. Other operations in the district, such as the Nissan Research Center, the Grandrive proving ground, the nearby crash test facility, and Oppama Wharf, will be unaffected by the decision and will continue to operate as usual. Nissan said it will explore 'a wide range of options' for the future utilization of the Oppama plant after production ends. Nissan's CEO, Ivan Espinosa, said in a statement: "Today, Nissan made a tough but necessary decision. It wasn't easy—for me or for the company—but I believe it is a vital step toward overcoming our current challenges and building a sustainable future. The Oppama Plant is a proud part of our history, and its legacy will endure. I want to sincerely thank our employees, the local community, and our partners who have supported this plant with dedication and heart. We will continue to operate in the Oppama area with strong support for the local community, as we carry forward the spirit of the Oppama plant and work to restore Nissan's true value." Under the Re:Nissan restructuring programme, Nissan aims to reduce its global production capacity from 3.5 million units per year (excluding China) to 2.5 million units. The company has determined that discontinuing operations at its Oppama plant and consolidating production at its Kyushu facility is 'the most effective solution to reduce capacity in Japan, based on the plant's production capacity, cost efficiency, and investment requirements.' The company confirmed that consolidating production at Kyushu will help it 'significantly reduce manufacturing costs in Japan, strengthen plant competitiveness, improve product profitability, and support Nissan's long-term growth.' Nissan also announced that production of the NV200 at its Shatai Shonan Plant in Japan will end in fiscal year 2026, with a successor planned to be launched in fiscal year 2027. "Nissan to cease production at its Oppama plant" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Erreur lors de la récupération des données Connectez-vous pour accéder à votre portefeuille Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données
NZ Herald
5 days ago
- Business
- NZ Herald
More than half Crown Regional Holdings/Provincial Growth Fund loan book ‘at risk'
CRH chair John Rae noted the increasing proportion of at-risk loans in his foreword to the report. 'While this increase continues the trend from the previous reporting period, it is not unexpected when factoring the challenging macroeconomic environment,' Rae said. 'It is also important to remind ourselves that the space that the funds are almost universally targeted is into areas that banks and other financiers are either unwilling, or on a very limited basis, prepared to support – which makes our investments inherently more subject to risk.' CRH's single largest exposure is the expansion and development of Ōpōtiki Harbour, where $110m has been spent to date. While loans make up the bulk of CRH outgoings, it has also made equity investments in regional businesses – such as the $52m tipped into loss-making Whakatōhea Mussels Ōpōtiki. Revaluation of CRH's equity portfolio wasn't all one-way in the 2024 financial year. The 2023 report had impaired a $7m equity investment into lithium and silica extraction startup Geo40 after its main plant suspended production and there were 'material indicators of uncertainty in the going concern of the entity'. By 2024, however, Geo40 had resumed production and a secondary market share sale had allowed CRH to revalue its equity stake to $6.2m. Geo40 is also the recipient of $10m in loans from CRH. The release of CRH's 2024 annual report was held up for nearly a year over how to assess its loan and investment portfolio. Audit NZ said it needed to 'ensure that the risks associated with these complexities are addressed appropriately'. At the end of May, CRH said it was expecting the report to be published in 'mid-June'. In early July, the Ministry of Business, Innovation and Employment said the report would soon be tabled to Parliament, which finally happened on July 10. The Audit Note attached to the 2024 report is identical to that filed the previous year, including an emphasis on matters regarding uncertainty in estimating the value of loans and securities and how discount rates and expected credit losses are determined. The next report is likely to see more write-downs, with CRH flagging a further three loan recipients have entered liquidation since balance date. In November 2023, CRH approved a loan of up to $5m for Hawke's Bay cherry producer Cherri Global to help the company recover after Cyclone Gabrielle. Less than 18 months later Cherri collapsed into liquidation. The first report by liquidators PwC showed CRH is among unsecured creditors owed $42m by the Cherri group. Ashburton-headquartered plant-based food manufacturer Sustainable Foods had been advanced $1.4m by CRH. Sustainable Foods entered voluntary administration in August. Its proposal to restructure its debts was voted down at the watershed meeting in November and the company had liquidators from PwC appointed. Despite a general security agreement, the liquidator's second report said the CRH loan was likely to face an $895,616 shortfall. Overall, Sustainable Foods is expected to leave all creditors more than $2.5m short. Timber wholesaler Guru NZ was tipped into liquidation in February. CRH is listed as one of six unsecured creditors who are collectively owed $773,085. Receivers were separately appointed to Guru in March by the China Construction Bank which sought repayment of $3.1m. The first receivers' report, prepared by McGrathNicol, said Guru owed a total of $14m to creditors and an estimated shortfall of $7.7m would mean unsecured creditors would be left with nothing. Matt Nippert is an Auckland-based investigations reporter covering white-collar and transnational crimes and the intersection of politics and business. He has won more than a dozen awards for his journalism – including twice being named Reporter of the Year – and joined the Herald in 2014 after having spent the decade prior reporting from business newspapers and national magazines.
