Nissan forecasts profit drop
Source: Agencies |
June 24, 2011, Friday
|
Print Edition
Print Edition
NISSAN is forecasting a 15.4 percent drop in profit for the fiscal year through March 2012 because of production disruptions from the March quake and an unfavorable exchange rate.
But the Japanese auto maker is expecting to sell more cars around the world, despite the disaster in northeastern Japan that battered production earlier this year, at 4.6 million vehicles, a 9.9 percent improvement, underscoring Nissan's resilience.
"Continuous growth in 2011 will bring Nissan a new record volume," Nissan President and Chief Executive Carlos Ghosn said yesterday.
"The unrelenting work ethic of Nissan employees is an inspiration, particularly after one of the worst natural disasters in modern history."
Nissan Motor Co, Japan's No. 2 auto maker, said yesterday that its profit will drop to 270 billion yen (US$3.4 billion) for the fiscal year through March 2012 from 319 billion yen (US$4 billion) the previous fiscal year.
Sales are expected to edge up 7.1 percent to 9.4 trillion yen (US$117.5 billion).
Its vehicle sales are expected to grow 1.7 percent in Japan, 6.8 percent in North America, 10.4 percent in Europe and 12.3 percent in China, it said.
But the Japanese auto maker is expecting to sell more cars around the world, despite the disaster in northeastern Japan that battered production earlier this year, at 4.6 million vehicles, a 9.9 percent improvement, underscoring Nissan's resilience.
"Continuous growth in 2011 will bring Nissan a new record volume," Nissan President and Chief Executive Carlos Ghosn said yesterday.
"The unrelenting work ethic of Nissan employees is an inspiration, particularly after one of the worst natural disasters in modern history."
Nissan Motor Co, Japan's No. 2 auto maker, said yesterday that its profit will drop to 270 billion yen (US$3.4 billion) for the fiscal year through March 2012 from 319 billion yen (US$4 billion) the previous fiscal year.
Sales are expected to edge up 7.1 percent to 9.4 trillion yen (US$117.5 billion).
Its vehicle sales are expected to grow 1.7 percent in Japan, 6.8 percent in North America, 10.4 percent in Europe and 12.3 percent in China, it said.
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