Nissan tumbles 11 percent to seven-month low after cutting guidance

TOKYO Mon Nov 4, 2013 7:29pm EST

A visitor runs past the logo of Nissan Motor Co at the company's showroom in Yokohama, south of Tokyo November 1, 2013. REUTERS/Yuya Shino

A visitor runs past the logo of Nissan Motor Co at the company's showroom in Yokohama, south of Tokyo November 1, 2013.

Credit: Reuters/Yuya Shino

Related Topics

TOKYO (Reuters) - Shares of Nissan Motor Co Ltd (7201.T) dropped as much as 11.6 percent to a seven-month low of 850 yen on Tuesday morning after the automaker cut its annual net profit estimate amid a slowdown in emerging markets and quality issues.

The stock was the third-most traded on the main board by turnover.

The carmaker lowered its net profit forecast for the year ending March 2014 to 355 billion yen ($3.6 billion) from 420 billion yen after the market close on Friday.

Japanese markets were closed for a public holiday on Monday.

($1 = 98.6050 Japanese yen)

(Reporting by Dominic Lau; Editing by Edwina Gibbs)

FILED UNDER: