Nissan Motor Co. said Thursday it is slashing domestic production by 64,000 vehicles in February and March to trim inventories and adjust to a drastic slide in global demand.

The bad news comes on the heels of media reports Thursday that said Japan's No. 3 automaker is likely to post an operating loss in the fiscal year through March, joining a growing list of big Japanese corporate names expected to slide into the red.

Since September, Nissan has already announced, over several times, domestic production cuts that combine to a reduction of 225,000 vehicles, spokeswoman Haruko Wada said. The company had initially expected to produce 1.38 million vehicles in Japan for the fiscal year.

Like other exporters, Nissan has been hammered by the double blow of falling overseas sales stemming from the global financial crisis and the stronger yen, which erodes foreign income.

The latest reports follow dismal forecasts from top automaker Toyota Motor Corp., which projected last month a 150 billion yen ($1.69 billion) operating loss for the fiscal year ending March 31 - its first such red ink in 70 years.

Earlier this week, media reports and analysts predicted Sony Corp. would also report an operating loss this fiscal year. Sony did not comment.

Operating profit is seen as a direct indicator of core business performance while net profit reflects taxes, dividends, asset sales and other items.