Nissan Raises Profit Outlook Helped By Favorable Currency Exchange Rate

Nissan Motor Co Ltd NSANY has raised its profit outlook for FY22 as a weak yen boosted repatriated income.
The company now expects FY22 operating profit of 360 billion yen versus the previous outlook of 250 billion yen.
Significant weakening of the yen has helped to compensate for a persistent shortage of chips and supply-chain constraints that have curtailed output in the industry.
Meanwhile, in the second half of the fiscal year, the company expects to face continued shortages of semiconductor supply and increasing raw material prices.
The carmaker expects FY22 revenue of 10.9 trillion yen, up from the prior guidance of 10 trillion yen.
Also Read: Nissan, Renault Talk About Restructuring Their EV Partnership
Nissan now expects sales volume to decrease by 7.5% over the previous forecast to 3.7 million units.
The company’s Q2 sales rose 30% Y/Y to 2.52 trillion yen with an operating profit of 91.7 billion yen.
“Our strong first half performance reflects our steadily improving profit structure and strong business foundations, as well as the exchange-rate impact of the historically weak yen." said CEO Makoto Uchida.
Price Action: NSANY shares closed higher by 2.11% at $6.78 on Tuesday.
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