Core Viewpoint - Nissan is closing its Oppama plant in Kanagawa Prefecture, Japan, to reduce costs and streamline operations as part of its restructuring efforts [3][4][15]. Group 1: Plant Closure Details - The Oppama plant, which employs approximately 2,400 workers, will cease production by the end of the fiscal year 2027, specifically in March 2028 [4]. - This decision aligns with Nissan's previous plans to close certain factories and is expected to significantly impact the local economy [4][10]. - Production from the Oppama plant will be transferred to Nissan's Kyushu plant in Fukuoka Prefecture [3]. Group 2: Financial Context - Nissan has been facing severe financial difficulties, reporting a fiscal year loss of 670.9 billion yen (approximately $4.5 billion) as of March, a stark contrast to a profit of 426.6 billion yen in the previous fiscal year [12]. - The company has been adversely affected by declining sales in China and other markets, high restructuring costs, and inventory issues [12][15]. Group 3: Restructuring Plan - The closure of the Oppama plant is part of Nissan's "Re:Nissan" restructuring plan, which includes a global workforce reduction of about 15%, equating to 20,000 jobs, and consolidating production from 17 factories to 10 [15]. - The annual production capacity is expected to decrease from 3.5 million units to 2.5 million units as a result of these changes [15]. Group 4: Historical Significance - The Oppama plant has a long history, having been operational since 1961 and was the site of the production of Nissan's first mass-produced electric vehicle, the Leaf [8]. - The plant has been a significant economic contributor to the local area, providing thousands of jobs and supporting numerous local suppliers and businesses [10]. Group 5: Leadership and Future Outlook - CEO Ivan Espinosa emphasized the necessity of these changes to overcome current challenges and return to growth, while expressing sympathy for affected workers [6][12]. - Despite the closure, other nearby Nissan facilities will remain operational, and the company aims to continue supporting the local community [12].