Nissan Motor on Thursday said it had been planning deep production cuts in Japan in February compared with March, and that a newspaper report of a rise in output was in line with plans it had announced earlier this month.

According to Reuters, Nissan's shares rose as much as 5.3% earlier on the front-page report in the Nikkei business daily that the automaker was expected to produce 60,000 to 70,000 vehicles next month, nearly 30,000 units more than in February.

"We had indicated on 9 February that production cuts would be deeper in February, and there is no change in the planned production levels on average for the two months," Nissan spokeswoman Haruko Wada told the news agency.