Nissan projects a $5B loss for the fiscal year, driven by sales declines, restructuring, and impairments, while focusing on recovery.

Nissan saw its shares rise almost 2% on Friday after it flagged a record loss due to a massive reduction in the value of its assets and hefty restructuring fees - costs that appeared aimed at clearing the decks for a badly needed turnaround.

Nissan Motor estimated billions of dollars in net loss for the fiscal year ended March due to impairments and restructuring expenses.