Nissan annual profit soars to US$4.2b on weak yen, new models
[TOKYO] Nissan on Wednesday said its fiscal-year net profit soared 17.6 per cent to US$4.2 billion, crediting a weak yen and new model rollouts for buoyant results that drove past its own earlier forecasts.
Japan's number-two automaker reported a 457.6 billion yen profit in the year to March - it had been expecting earnings of 420 billion yen - on sales of 11.38 trillion yen, up 8.5 per cent.
The company projected an even stronger 485.0 billion yen profit this business year.
Also on Wednesday, however, Nissan and Toyota separately announced a huge recall tied to an exploding air bag crisis, with Nissan calling back 1.56 million vehicles while its rival recalled five million vehicles globally.
AFP
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Porsche posts Q1 profit drop on ramp-up costs
Air China orders homegrown C919s in challenge to jet duopoly
Huawei’s smart car tech offers automakers route to China sales
Sri Lanka to hand management of China-built airport to India, Russia companies
Tesla’s plan for affordable cars takes page from Detroit rivals
Toyota is investing US$1.4 billion to build another all-electric SUV in US