With the Japanese carmaker, Nissan Motor Co, announcing its restructuring measures to return to profit, its shares leaped noticeably to 7 percent - or 19 yen - Tuesday morning, reaching 280 yen on the Tokyo Stock Exchange.

The company's efforts to cut costs follow its anticipation of its first loss in nine years - a projected 180 billion yen operating loss, and a 265 billion yen net loss in the year ending March 31.

The restructuring measures being undertaken by the company include 20,000 layoffs, which would cut labor costs by almost 20 percent, or 175 billion yen, in high-wage countries. In addition, Nissan intends shifting part of its domestic production overseas to offset a rising yen.

Even as most analysts hailed the efforts announced by Japan's third-biggest carmaker, NikkoCitigroup analyst Noriyuki Matsushima is of the opinion that though the measures may promptly restrict the harm being caused by plummeting global demand as well as the strong yen, these alone were not reasons enough to buy Nissan's shares.

In a report, Matsushima said: "Given the outlook for two consecutive years of losses, although the shares have dropped to around our 260 yen target price, it is still too early to invest."

Over the last year, Nissan's shares have lost more than 70 percent, as against the transport sector subindex losing47 percent, thereby making Nissan the worst performer among Japanese carmakers!