Nissan cuts profit forecast in first report since ousting Ghosn

The Japanese automaker slashed its annual profit and sales forecasts on Tuesday in its first earnings report since the arrest and ouster of Ghosn, who ran the company for nearly two decades.

Nissan (NSANF) now expects to sell 5.6 million vehicles worldwide in the financial year ending in March, down from an earlier forecast of more than 5.9 million. Net profit is likely to come in at 410 billion yen ($3.7 billion), nearly 20% below the previous prediction.