Arab Today, arab today nissan’s earnings down 15
Last Updated : GMT 07:53:25
Arab Today, arab today
Arab Today, arab today

Nissan’s earnings down 15%

Arab Today, arab today

Arab Today, arab today Nissan’s earnings down 15%

Tokyo - AFP

Nissan has posted a 15 percent drop in quarterly profit as a strong yen and weak European market dented earnings, but Japan’s second-biggest automaker said its full-year forecast was on track. Nissan, part-owned by France’s Renault, has announced plans to release 10 new products globally over the year as it locks horns with global heavyweights General Motors, Toyota and Volkswagen. But Japan’s automakers have been hit hard by the value of the yen, which remains near record highs reached last year against the dollar, making their vehicles relatively more expensive overseas and shrinking foreign income. Nissan said yesterday its business in the debt-hit European market took a beating, with sales down 1.7 percent. In its fiscal first-quarter through June, Nissan said its net profit fell 15 percent to 72.3 billion yen ($ 927 million) with an operating profit of 120.7 billion yen, which is down 19.7 percent from a year earlier. Sales were 2.6 percent higher at 2.14 trillion yen, it said. “Operating profit declined chiefly because of the impact of historic high levels of the yen that continue until now and a temporary increase in sales costs in North America,” Nissan said in a statement. On forex markets the dollar is currently sitting at the 78 yen level, just above the record low around 75 yen touched late last year. In the same release, Nissan president Carlos Ghosn said: “Nissan has delivered a respectable performance in the first quarter despite challenging macro-economic conditions. “Our innovative models remain in high demand, with further exciting vehicles due for launch. Against that background, we remain on track to achieve our full-year forecasts,” he added. Nissan also said its outlook for the full-year to March remains unchanged, forecasting net profit of 400 billion yen on sales of 10.3 trillion yen. In its latest quarter, Nissan said it sold 1.2 million vehicles globally, up 14.6 percent from the same three months last year. Sales to the key China market, Nissan’s biggest, rose 12.2 percent. Daiwa Securities auto analyst Eiji Hakomori said Nissan has so far been slow to release its promised new models. “Talking about Altima, a popular model in the US, its new model was released on June 26,” he said. “So that means the April-June quarter was a difficult quarter for them to earn profits as they had to sell older model cars while pouring money into plants to bring out new models,” he said. “I’d say the decline in profit is not very worrisome” longer term, he added In May, Nissan posted a 341.43 billion yen full-year net profit and record sales for the year to March, as it shrugged off the devastating impact of last year’s quake-tsunami disaster on production and flooding in Thailand. Rivals Toyota and Honda saw profits plunge during the same period. Nissan’s full-year sales rose to their highest-ever 9.41 trillion yen with 4.85 million vehicles sold globally.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today nissan’s earnings down 15 Arab Today, arab today nissan’s earnings down 15

 



Arab Today, arab today
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models

GMT 10:47 2017 Thursday ,23 February

Saudi Aramco may offer discounted shares to citizens

GMT 06:25 2017 Thursday ,23 February

Bupa Arabia sponsors SMEA forum

GMT 06:11 2017 Thursday ,23 February

Football: Turkish company wins Qatar World Cup contract

GMT 05:46 2017 Thursday ,23 February

SABIC net profits fall in 2016

GMT 21:01 2017 Wednesday ,22 February

Saudi Aramco mulls offering citizens discounted shares

GMT 16:50 2017 Wednesday ,22 February

Yahoo salvages Verizon deal
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday