NIS­SAN WARNS OF FLAT PROFIT GROWTH

Down­beat fore­cast de­spite an­nual net profit of US$5.82b for last fi­nan­cial year

New Straits Times - - Business -

TOKYO

Yes­ter­day, Nis­san said its lat­est op­er­at­ing profit fell 6.4 per cent while rev­enue shed 3.9 per cent to 11.72 tril­lion yen, blam­ing a stronger yen.

For the cur­rent year to March 2018, Nis­san said net profit would fall 19.4 per cent to 535 bil­lion yen. Op­er­at­ing profit and rev­enue are on track to de­cline 7.7 and 0.7 per cent, re­spec­tively, it said.

Nis­san sold more cars glob­ally in the lat­est pe­riod — 5.63 mil­lion — with a rise in most ma­jor mar­kets in­clud­ing North Amer­ica, Europe and China. Sales in its home mar­ket were down.

In Fe­bru­ary, long­time Nis­san boss Car­los Ghosn an­nounced he was step­ping down from the chief ex­ec­u­tive post to fo­cus on over­haul­ing scan­dal-hit Mit­subishi Mo­tors, but would stay on as chair­man.

Ghosn handed over the reins to Nis­san vet­eran Hiroto Saikawa last month.

“Nis­san is see­ing a strong per­for­mance in North Amer­ica and China, the world’s two ma­jor mar­kets,” said Sa­toru Takada, an analyst at TIW, be­fore the earn­ings re­port.

“I don’t think Ghosn’s re­treat will have a big im­pact as he is still over­see­ing the com­pany as its chair­man,” said Takada. AFP

AFP PIC

Nis­san sold 5.63 mil­lion cars glob­ally in the year ended March 2017, with sale in­creases in most ma­jor mar­kets in­clud­ing North Amer­ica, Europe and China.

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