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Nissan’s Profit Up 57%
Nissan Motor Corp.'s net profit in October-December 2013 surged to 84.3 billion yen ($825 million) from 53.8 billion yen in the same period of 2013.
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Nissan Motor Corp.'s net profit in October-December 2013 surged to 84.3 billion yen ($825 million) from 53.8 billion yen in the same period of 2013.
Results were pushed by an aggressive price strategy in the U.S. and jump in sales in Japan as consumers rushed to avoid a 60% hike in the country's general sales tax in April.
Revenue climbed 25% to 2.5 trillion yen ($24 billion) in the quarter. Operating income rose to 78.7 billion yen ($77 million) from 46.7 billion yen in the same period last year.
But Nissan's net income was only 3.3% of revenue, the smallest ratio among all major Japanese carmakers in October-December. Bloomberg News notes that the company produces only 23% of its vehicles in Japan and thus hasn't benefits from the weak yen as much as such rivals as Mazda and Toyota, which have a higher ratio of domestic production.
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