On February 9, Nissan Motor Company announced their financial results for the first nine months (April to December) of the current fiscal year and made upward adjustments to its forecasts. Operating profit has been increased by 35 billion yen to 570 billion yen (up 14% from the previous year).
Despite lowering its global sales outlook by 150,000 units from their previous estimate, Nissan is expecting more profits as a result of the weak yen and reduced costs. Their expected net income has been increased by 15 billion yen to 420 billion yen (up 8%). Global sales have been reduced to 5.3 million units (up 2%) due to sales trends in emerging markets such as Russia and Asia.
These forecasted figures are based on an exchange rate of 108.8 yen to the US dollar, revised from 104 yen. The currency movement contributed to 55 billion yen of the increased profit forecast. Nissanâ€™s operating profit increased significantly by 39% from the previous year to 417.9 billion yen in the first nine months.
At a conference inside their Yokohama headquarters, Nissanâ€™s Corporate Vice President Joji Tagawa said, â€œWe delivered sound results by achieving profits despite the challenging market conditions.â€
(Translated by Travis Yamabata)