Nissan Motors posts 40% rise in net profit
03 November 2015,Nirapad News: Japan’s second-biggest carmaker, Nissan Motor Corporation, has posted a rise of 37.4% in net income for the six months ending in September.
The firm also revised its full-year to March 2016 forecast for global car sales to 5.5 million vehicles – up by 3.4% from a year earlier.
Net income for the September half came to 325.6bn yen ($2.7bn), reports the BBC.
The company said sales had been given a boost by demand from North America and Europe, together with a weaker yen.
A weaker yen makes goods made by Japanese exporters less expensive overseas.
Despite the slowdown in China, Nissan said its sales of passenger vehicles there rose by 9.5% for the period.
However, the firm noted ‘declining market conditions’ in Japan, as well as several emerging markets.
‘Nissan has delivered solid revenue growth and improved profitability in the first half of the fiscal year, driven by encouraging demand for our vehicles in North America and a rebound in western Europe, which compensated for market volatility elsewhere,’ said chief executive Carlos Ghosn.
The firm said it sold 2.62 million vehicles globally during the six months, marking a 1.3% rise year-on-year.
Other Japanese carmakers reporting their earnings this week are Honda and Toyota.