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MarketScreener Homepage  >  Equities  >  Tokyo  >  Nissan Motor Co., Ltd.    7201   JP3672400003

NISSAN MOTOR CO., LTD.

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Nissan Motor : recalls nearly 400,000 vehicles over braking system defect (Nov. 16)

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11/18/2019 | 08:34am EST
FILE PHOTO: Nissan logo is seen in Tokyo Motor Show in Tokyo

(This November 16 story corrects headline to say nearly 400,000 vehicles were recalled, not 40,000)

By Kanishka Singh

(Reuters) - Japan's Nissan Motor Co Ltd has said it is recalling 394,025 cars in the United States over a braking system defect, causing concerns that a brake fluid leak could potentially lead to a fire.

The leak into internal circuit boards will trigger a warning to drivers, which if ignored may lead to a fire in "rare instances," Nissan said in a filing dated Nov. 8 with the National Highway Traffic Safety Administration (NHTSA) under recall number 18V-601.

"... if the warning is ignored and the vehicle continues to be operated in this condition, the brake fluid leak may potentially create an electrical short in the actuator circuit, which in rare instances, may lead to a fire," the Japanese automaker said.

The recall, which was reported on Friday by U.S. media, includes Maxima sedans from 2016 through 2018, Infiniti QX60 luxury crossovers from 2017 to 2019, Murano SUVs from 2015 to 2018 and Pathfinder SUVs from 2017 to 2019, the filing showed.

The document does not mention whether the brake system defect actually caused any fires or injuries.

The company also reportedly https://n.pr/2rRlGpM said that it was working to fix the issue and that owners of the affected cars will be notified starting early next month.

"Once the remedy is available, owners will receive a final notification letter asking them to bring their vehicle to an authorized Nissan dealer or INFINITI retailer to have the remedy work completed at no cost for parts or labour," it told NPR in an emailed statement.

The development comes less than two months after NHTSA opened a preliminary investigation into 553,000 Nissan Rogue sport utility vehicles after reports of their automatic emergency braking systems engaging without warning or an obstruction.

Improper inspections of brakes, steering wheels, speed measurements and vehicle stability had also caused the company to issue a recall of several thousand vehicles in Japan late last year.

In September, the company recalled 1.3 million vehicles to fix a problem with its backup camera displays.

(Reporting by Kanishka Singh in Bengaluru; Editing by Daniel Wallis)

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Financials (JPY)
Sales 2020 10 629 B
EBIT 2020 154 B
Net income 2020 131 B
Debt 2020 6 593 B
Yield 2020 3,12%
P/E ratio 2020 19,3x
P/E ratio 2021 9,53x
EV / Sales2020 0,87x
EV / Sales2021 0,84x
Capitalization 2 614 B
Technical analysis trends NISSAN MOTOR CO., LTD.
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TrendsBearishNeutralBearish
Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 23
Average target price 738,95  JPY
Last Close Price 668,10  JPY
Spread / Highest target 122%
Spread / Average Target 10,6%
Spread / Lowest Target -14,7%
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Managers
NameTitle
Makoto Uchida President & Chief Executive Officer
Yasushi Kimura Chairman
Ashwani Gupta Chief Operating & Production Officer
Stephen Ma Chief Financial Officer & Executive Officer
Anthony Thomas Chief Information Officer
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