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April 25, 2005

JAPAN: Nissan reports record full year net income

Nissan Motor has reported record net income of 512.3 billion yen ($US4.8 billion; €3.8 billion) in the fiscal year that ended March 31, a 1.7% rise from a year earlier, as car sales surged in the United States.

Nissan Motor has reported record net income of 512.3 billion yen ($US4.8 billion; €3.8 billion) in the fiscal year that ended March 31, a 1.7% rise from a year earlier, as car sales surged in the United States.

“Fiscal year 2004 was a tough year, full of both anticipated and unexpected risks, but Nissan lived up to all the challenges,” Nissan chief executive Carlos Ghosn said, according to The Associated Press (AP).

But Ghosn reportedly said the coming year would be even tougher, filled with risks such as possible higher US interest rates, steeper steel and oil prices, and volatile foreign exchange rates.

Sales rose 15.4% in fiscal 2004 to 8.6 trillion yen from 7.4 trillion yen, AP said, noting that the results were in line with what the automaker and analysts had forecast.

For the fiscal year to the end of March 2006, Nissan has forecast group net profit of 517 billion yen on 9 trillion yen in sales.

The Associated Press said that, for fiscal year 2004, Nissan said it sold a better-than-expected record 3.39 million vehicles around the world, up 10.8% from 3.06 million the previous year.

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