Nissan Motor Cuts Annual Profit Estimate on Lower Vehicle Sales
By Kosaku Narioka
Nissan Motor cut its net profit estimate for the fiscal year, citing lower-than-expected vehicle sales.
The Japanese automaker on Friday said net profit likely rose 67% to 370.00 billion yen ($2.39 billion) for the year ended March, lower than its previous projection of Y390.00 billion.
Nissan said revenue is estimated to have increased 19% to Y12.600 trillion, below its previous forecast of Y13.000 trillion.
The Japanese automaker said that it sold 3.44 million vehicles, fewer than previously expected, and that it took steps to mitigate inflation's impact on suppliers, which affected its bottom line.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
April 19, 2024 03:25 ET (07:25 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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