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Nissan’s Quarterly Revenue, Net Income Dip
Nissan Motor Co. reports its operating profit in the fiscal fourth quarter grew 20% to 206 billion yen ($1.9 billion). Unit sales rose 3% to 1.53 million vehicles.
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Nissan Motor Co. reports its operating profit in the fiscal fourth quarter grew 20% to 206 billion yen ($1.9 billion). Unit sales rose 3% to 1.53 million vehicles.
But January-March revenue slipped 1% to 3.3 trillion yen ($29.8 billion), as the strengthening yen offset volume gains in North America, Europe and China. Net income plunged 40% to 71 billion yen ($652 million), dragged down by the costs of recalling Takata Corp. airbag inflators.
For the full fiscal year, Nissan’s revenue grew 7% to 12.2 trillion yen ($112 billion). Operating profit jumped 35% to 793.3 billion yen ($7.3 billion), and net income climbed 15% to 524 billion yen ($4.8 billion). Unit sales for the 12-month period advanced 2% to 5.42 million cars and trucks.
Nissan predicts its full-year sales will expand 3% to 5.6 million units in the fiscal period that began April 1. But the company forecasts flat net income and a 10% drop to 710 billion yen in operating profits.
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