Nissan to take nearly $690 million hit from its Russian market exit

Japan-based carmaker Nissan Motor Co. Ltd. will take a hit of roughly 100 billion Japanese yen ($687 million) as it moves to exit the Russian market, Hindustan Times reported citing Bloomberg. Nissan’s exit from Russia will also cost its partner Renault SA €331 million ($322.5 million). Nissan will transfer its entire Russian business to Russian automotive research institute, NAMI, for just €1.