Nissan Raises Full-Year Profit Outlook

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)

Nissan Motor (PK) (USOTC:NSANY)
Historical Stock Chart
From Jun 2024 to Jul 2024