Nissan projects an annual loss as it drops its talks with Japan rival Honda

TOKYO (AP) — Nissan’s April-December profit crashed to 5.1 billion yen ($33 million), a tiny fraction of the 325 billion yen the Japanese automaker earned the previous year.

Nine-month sales dropped less than 1% to 9.14 trillion yen ($59 billion). Nissan projected red ink of 80 billion yen ($519 million) for the full fiscal year through March.

Besides announcing the dismal results, Nissan Motor Corp. also announced Thursday it was dropping the talks it had started in December with Japanese rival Honda Motor Co. for a business integration.

Nissan Chief Executive Makoto Uchida told reporters the focus of the talks had changed from forming a joint holding company to making Nissan into a subsidiary of Honda.

He said that was unacceptable, although the efforts to realize “synergies through a strategic partnership” on electric vehicles and other research will continue.

He said Nissan will try to achieve a turnaround without Honda, while being open to various options, and that a detailed plan will be outlined within a month. Nissan has said announced it will trim its operations, including closing lines, perhaps entire plants, while slashing 9,000 jobs.

FILE - Nissan Chief Executive Makoto Uchida speaks during a joint news conference in Tokyo, Japan, Monday, Dec. 23, 2024. (AP Photo/Eugene Hoshiko, File)

FILE - A Nissan logo is displayed on a Nissan Pathfinder SUV at the Pittsburgh International Auto Show in Pittsburgh, Feb. 15, 2024. (AP Photo/Gene J. Puskar, File)

ISLAMABAD (AP) — A gas cylinder explosion early Sunday after a wedding reception at a home in Pakistan’s capital killed at least eight people, including the bride and groom, police and officials said.

The blast occurred as guests who had gathered to celebrate the couple were sleeping at the house, causing part of the house to collapse, according to the Islamabad police. Seven people were injured.

In a statement, police said the explosion occurred in a residential area in the heart of the city. A government administrator, Sahibzada Yousaf, said authorities were alerted about the blast early Sunday and officers are still investigating. He said some nearby homes were also damaged.

Prime Minister Shehbaz Sharif expressed grief over the loss of lives and offered condolences to the victims’ families, according to a statement from his office. He directed health authorities to ensure the injured receive the best possible treatment and ordered a full investigation.

Many Pakistani households rely on liquefied petroleum gas cylinders because of low natural gas pressure, and such cylinders have been linked to deadly accidents caused by gas leaks. Police said investigations were ongoing.

Government officials survey the damage of a home caused by a gas cylinder explosion hours after a wedding reception, in Islamabad, Pakistan, Sunday, Jan. 11, 2026. (AP Photo/Ehsan Shahzad)