Nissan Raises Full-Year Profit Outlook
November 02 2015 - 3:50AM
Dow Jones News
YOKOHAMA—Nissan Motor Co. raised its full-year net profit
forecast by 10.3% as solid sales in the U.S. and a weaker yen
offset emerging-market slowdowns.
Nissan now expects a full-year profit of ¥ 535 billion ($4.4
billion), the company said Monday, which would be up 16.9% from the
last financial year.
For the fiscal second quarter, Japan's second-largest auto maker
by global sales volume said net profit rose 38.4% from a year
earlier to ¥ 172.8 billion. That beat a mean profit estimate of ¥
131.7 billion, according to analysts polled by Thomson Reuters.
Second-quarter revenue rose 13.2% from a year earlier to ¥ 3.0
trillion.
Second-quarter U.S. sales grew 7.6% from a year earlier,
outperforming the overall market's increase of 6.2%. It sold about
386,000 vehicles, backed by solid sales of the Rogue crossover SUV
and the Altima sedan.
But a slowdown in China cast a shadow over Nissan, which has
been the best-selling Japanese auto maker in the world's biggest
auto market. Nissan's second-quarter China sales fell by about 6%
from a year earlier, as the economic slowdown hurt consumer
spending, while Japanese rivals Toyota Motor Corp. and Honda Motor
Co. outperformed the market in recent months. Nissan may see a lift
in coming months because it started to sell the Lannia, a new sedan
designed for the Chinese market, last month.
Write to Yoko Kubota at yoko.kubota@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
November 02, 2015 03:35 ET (08:35 GMT)
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