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Nissan Denies Nikkei Report On Global Production Cut

Nissan Motor Co., Ltd (NSANF.PK,NSANY.PK) denied a report by the Nikkei that Japanese carmaker would cut its global production by about 15 percent for the fiscal year ending March 2020 as the company shifts away from the aggressive expansion campaign promoted by former Chairman Carlos Ghosn.

Nikkei had reported that the company aims to produce about 4.6 million units in fiscal 2019 -- the lowest figure in nine years.

Nissan said that the details reported in Nikkei article are completely incorrect, and the company has voiced its strong objection to the Nikkei.

The company also said it will disclose production plan for the current fiscal year on May 14, when the company announces its financial results for the previous fiscal year.

Ghosn, who was arrested for the first time in November, is being detained in a Tokyo jail on allegations of misusing Nissan's money for personal gain. He denied the allegations as well as formal charges accusing him of falsifying financial information and breach of trust.

In Japan, Nissan closed Friday trading at 939.30 yen, down 21.50 yen or 2.24 percent.

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