November 5, 2013 / 12:30 AM / in 4 years

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

1 Min Read

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

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

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