TOKYO, Feb. 12 (Xinhua) -- Japan's Nissan Motor Co. said Thursday it expects a net loss of 650 billion yen (about 4.25 billion U.S. dollars) for fiscal 2025 ending next month, which would mark the second straight year in the red.

This photo taken on Dec. 23, 2024 shows a Nissan dealer in Tokyo, Japan. (Photo: Xinhua)

The automaker, which posted a group net loss of 670.9 billion yen the previous fiscal year, cited the impact of higher U.S. tariffs as well as continued poor sales in Japan and the United States.

For the nine months to December, the company reported a net loss of 250.2 billion yen, compared with 5.1 billion yen in profit a year earlier, and an operating loss of 10.11 billion yen against a year-earlier profit of 64.01 billion yen.

In a bid to restore its profitability, Nissan has been undertaking massive streamlining efforts, which include consolidating the number of its factories from 17 to 10 and cutting 20,000 jobs globally by fiscal 2027.

The struggling carmaker withheld releasing a detailed breakdown of restructuring costs, with CEO Ivan Espinosa only saying at a press conference that the pace of reducing the company's workforce is progressing "a bit ahead of schedule."