Nissan Expects 15% Drop In Net Profit

Nissan Motor Co Ltd NSANY projects a 15% decline in net profit for the current fiscal year. Nissan expects a net profit of Y270 billion in the fiscal year, versus Y319.22 billion in the previous fiscal year. Analysts expected a profit of Y252.20 billion for the same period. The company expects sales to increase 7.1% to Y9.400 trillion in the current fiscal year. It projects a 14% drop in operating profit to Y460 billion from Y537.47 billion. Nissan also announced its plans to double its dividend payment for this fiscal year to Y20 per share. Nissan expects to increase global sales 9.9% to 4.60 million vehicles. It expects a 12% surge in China to 1.15 million vehicles, a 6.8% rise in North America to 1.33 million vehicles and a 1.7% rise in Japan to 610,000 vehicles. NSANY shares gained 1.75% to close at $20.90 yesterday. Read more from Benzinga's Company news.