Japanese automaker Nissan reports 92% jump in profit as sales surge

A Nissan logo is seen on a car at its showroom in Tokyo, Feb. 21, 2023. TOKYO — Nissan’s profit for the fiscal year through March jumped 92% to 426.6 billion yen as sales grew in all major global markets except China, the Japanese automaker said Thursday.For the January-March quarter, profit at Nissan, based in the port city of Yokohama, edged down slightly to 101.3 billion yen from 106.9 billion yen.

“We will do this step by step with a balanced product portfolio and by implementing optimal business strategies,” he told reporters. In March, Nissan and domestic rival Honda Motor Co. said they will work together in developing electric vehicles and auto intelligence technology. When asked by a reporter, Uchida said he could not comment yet beyond the announcement.

But Nissan played down the perk, stressing a steady exchange rate was desirable. The cheap yen boosted Nissan’s operating profit for the fiscal year ended in March by nearly 13%.

Source: Financial Digest (financialdigest.net)

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