Nissan slashes annual operating profit forecast

Japanese car giant Nissan on Wednesday downgraded its annual operating profit forecast after a damaging inspection scandal in its domestic market, as its CEO vowed to regain customers' trust.

Nissan said it now expects to make an operating profit of 645 billion yen ($5.7 billion) for the year to March, a cut from its previous forecast of 685 billion yen.

The manufacturer left its forecasts for net profit and sales unchanged at 535 billion yen and 11.8 trillion yen respectively.

Before presenting the figures to journalists, Nissan chief executive Hiroto Saikawa bowed long and deep in apology.

"I would like to express my apologies to customers, partners, dealers and all the people who have been supporting Nissan," said Saikawa.

The scandal has "undermined the trust of all of you", he said, adding: "We would like to do our best to regain the trust of all of you."

Last month Nissan said it was recalling some 1.2 million cars in Japan that had failed to meet domestic rules on final vehicle inspections.

The company confirmed that tests were performed by staff who were not certified to check the vehicles to Japanese government standards.