Nissan reports first loss in decade

Nissan Motor Co., Japan's No. 3 automaker, reported a 233.7 billion yen ($2.4 billion) annual net loss, its first yearly loss in a decade — but expects the red ink to lessen in the current fiscal year. "We are beginning to see some signs of improved access to credit, the impact of government stimulus packages and a gradual return in consumer confidence," said Chief Executive Carlos Ghosn, while remaining cautious about the future. "The crisis is ongoing and market conditions are still volatile," he told reporters at Nissan's Tokyo headquarters.