News Column

Nissan Profit Up Amid Yen's Fall

July 25, 2013
Nissan Leaf (photo: Nissan)

Nissan Motor Co said Thursday its net profit for the April-to-June quarter rose 14 per cent from a year earlier to 82 billion yen (820 million dollars), thanks to a weaker yen.

Nissan also reported a 23-per-cent increase in operating profit to 108.1 billion yen for the period while sales rose 17.8 per cent to 2.23 trillion yen.

A weaker yen makes Japanese goods more competitive overseas and improves repatriated revenues.

Japan's second-largest carmaker also said its global sales for the April-to-June period fell 3.3 per cent to 1.17 million vehicles.

However, sales in the United States, Nissan's largest market, jumped 20 per cent to 306,000 units, while those in China shed 15.1 per cent to 284,000 amid strained ties between Tokyo and Beijing over a territorial spat.

Sales in Europe were down 9.8 per cent to 151,000 vehicles and domestic sales declined 4.4 per cent to 135,000 units.

Nissan maintained its net profit outlook at 420 billion yen and operating profit forecast at 610 billion yen for the financial year to March 2014, while sales were predicted at 10.37 trillion yen.

Shares in Nissan closed down 0.54 per cent Thursday ahead of the earnings report, which was released after the markets closed.

For more coverage on the automotive industry, please see HispanicBusiness' Auto Channel

Source: Copyright 2013 dpa Deutsche Presse-Agentur GmbH

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