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Nissan Expects Record Profit in China
Nissan Motor Co. is likely to deliver a record operating profit of 160 billion yen ($1.3 billion) in the current fiscal year that began April, a source tells The Nikkei.
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Nissan Motor Co. is likely to deliver a record operating profit of 160 billion yen ($1.3 billion) in the current fiscal year that began April, a source tells The Nikkei.
The unit's previous fiscal year record was 129 billion yen. The company says a richer mix of SUV/crossover sales is boosting operating results, even though unit sales growth is likely to slow to 6% and 1.6 million units.
The company's China operations are likely to contribute 19% of group operating profit in the current fiscal year, the newspaper reports.
The Nikkei says Nissan has dropped its practice of adding half the operating profit of its China venture with Dongfeng Motor Co. to its group operating results. For reporting purposes, the company now treats half the venture's net profit as an equity investment and adds that amount to its pretax profit.
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