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February 9, 2011

JAPAN: Nissan profits, forecasts, rise

Nissan Motor has booked a third quarter net profit rise of 78% year on year to JPY80.1 bn (US $970m, EUR710m) for its fiscal third quarter.

Nissan Motor has booked a third quarter net profit rise of 78% year on year to JPY80.1bn (US$970m, EUR710m) for its fiscal third quarter.

Sales rose 5.3% to JPY2.1028 trillion ($25.43bn, EUR18.74bn) but operating profit slid 15% to JPY114bn.

“Our financial results are evidence that Nissan continues to deliver solid performance,” said Nissan president and CEO Carlos Ghosn. “Though we foresee risks in rising commodity prices and exchange rate volatility in the fourth quarter, we will continue to deliver good results while remaining focused on our strategies to pursue profitable growth.”

For the nine months to December 2010, net profit of JPY288.4bn ($3.32bn, EUR2.55bn) compared with JPY54bn the previous year. Sales were up 19.4% to JPY6.4218 trillion ($73.98bn, EUR56.68bn). Operating profit was JPY448.9bn (US $5.17bn, EUR3.96bn).

Nissan sold 3,018,000 vehicles in the first nine months, up 20.5% compared with the same period last year.

It has revised upward its full-year forecast for fiscal 2010 and now expects sales of JPY8.8 trillion ($103.04bn, EUR78.22bn); operating profit of JPY535bn ($6.26bn, EUR4.76bn) and net profit of JPY315bn having earlier forecast JPY270bn.

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