Nissan back in black
Nissan has recorded an annual net profit for the first time in three years but warns that figure will likely drop by nearly one-third in the current financial year amid a global shortage of semiconductors and increasing raw material prices.
The Japanese marque achieved a net profit of ¥215.5 billion (NZ$2.7b) in the year to the end of March 2022, a welcome return to the black after two years of losses.
It predicts that figure will fall by 30.4 per cent to ¥150b when the current business year ends next March.
The company’s latest annual operating profit was ¥247.3b, compared with ¥150.7b a year earlier, and sales increased 7.1 per cent over the same period to ¥8.4 trillion despite global sales volume dropping 4.3 per cent to 3.9 million units.
In the current fiscal year, Nissan expects its operating profit to rise 1.1 per cent to ¥250b and global sales to climb to four million units, reports the Japan Times.
Makoto Uchida, chief executive officer, says: “We are expecting another year in a very challenging business environment.”
He adds the marque expects the semiconductor shortage, geopolitical issues surrounding Russia and Ukraine and the jump in material costs to continue to have an impact on the automotive industry this year.
