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Nissan profit falls 15pc on strong yen

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Tokyo: Nissan Motor’s operating profit for the last quarter of 2016 dropped 15.1 per cent year-on-year to 163.5 billion yen ($1.46 billion) due to a stronger yen, the company said on Thursday. The company also posted a net profit of 131.7 billion yen for the quarter, up 3.5 per cent from the same period in 2015, while sales were down 2.2 per cent to 2.9 trillion yen.


Nissan’s car sales in Japan rose 7.9 per cent from a year earlier to 132,477 units for the quarter, while those in the US climbed 6.5 per cent to 391,053.


Nissan maintained its net profit outlook at 525 billion yen and operating profit forecast at 710 billion yen for the current financial year to March. — dpa


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