This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/business-41479300

The article has changed 2 times. There is an RSS feed of changes available.

Version 0 Version 1
Nissan faces $220 million hit from Japanese recall Nissan faces $220m hit from Japanese recall
(35 minutes later)
The automaker will recall 1.2 million vehicles in Japan after regulators said safety checks did not meet domestic requirements. Nissan will recall 1.2 million vehicles in Japan after regulators said safety checks did not meet domestic requirements.
Nissan shares fell by 5% on Monday after the firm said the recall could cost around 25bn yen (£167m; $220m). Nissan shares fell by 5% on Monday after the firm said the recall could cost about 25bn yen (£167m; $220m).
The vehicles were produced in the past three years for the domestic market and will now undergo re-inspection.The vehicles were produced in the past three years for the domestic market and will now undergo re-inspection.
The firm has begun an investigation into why its safety inspections did not meet government standards.The firm has begun an investigation into why its safety inspections did not meet government standards.
Nissan chief executive, Hiroto Saikawa, apologised to customers and said the company regretted any inconvenience caused.Nissan chief executive, Hiroto Saikawa, apologised to customers and said the company regretted any inconvenience caused.
"We must take the registration framework and procedures seriously, regardless of how busy we may be or how short-staffed we may be," Mr Saikawa said."We must take the registration framework and procedures seriously, regardless of how busy we may be or how short-staffed we may be," Mr Saikawa said.
The models affected by the recall include top sellers, the Serena minivan and the Note compact hatchback.
Nissan is Japan's second biggest carmaker and is the second such firm to be hit by a major misconduct incident in the country, after Mitsubishi Motors admitted in April 2016 that it had falsified fuel efficiency tests on some models.Nissan is Japan's second biggest carmaker and is the second such firm to be hit by a major misconduct incident in the country, after Mitsubishi Motors admitted in April 2016 that it had falsified fuel efficiency tests on some models.