JAPAN: Exchange rates, US lease losses, hit Nissan Q1
Nissan Motor first quarter consolidated net income dropped 42.8% year on year to JPY52.8bn (US$505m, €323m) as operating profit fell due to a JPY54.7bn negative hit from foreign exchange rates and provisions booked for residual value falls on leased vehicles in the US and Canada for 2008, 2009 and 2010, totalling JPY42bn.
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