Nissan Motor Co. shares jumped Tuesday, a day after it announced an aggressive restructuring plan that includes cutting 20,000 jobs worldwide to cope with the global slump.
Nissan shares jumped 7.3 percent to ¥280 on the Tokyo Stock Exchange as investors welcomed the measures announced Monday by Chief Executive Carlos Ghosn, who also forecast a ¥265 billion net loss for the business year through March. That would be Nissan's first annual loss since the year ending March 2000.
Tsuyoshi Mochimaru, auto analyst with Barclays Capital in Tokyo, said the market was relieved the bad news was all out for now. But he warned prospects for a quick recovery are slim.