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 ReadNissan, 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.
  • Photo Via Company
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