Japanese automaker Nissan reports 92% jump in profit as sales surge
TOKYO (AP) — Nissan’s profit for the fiscal year through March jumped 92% to 426.6 billion yen ($2.7 billion) as sales grew in all major global markets except China, the Japanese automaker said Thursday.
Annual sales surged nearly 20% to 12.7 trillion yen ($81.5 billion), Nissan Motor Co. said.
For the January-March quarter, profit at Nissan, based in the port city of Yokohama, edged down slightly to 101.3 billion yen ($650 million) from 106.9 billion yen.
Quarterly sales rose 13% to 3.5 trillion yen ($22 billion) for the maker of the Leaf electric car, Infiniti luxury models and Z sportscars.
Chief Executive Makoto Uchida said Nissan was aiming for further growth under a strategy called “The Arc,” kicking in from last month, focusing on electric vehicles to boost sales.
“We will do this step by step with a balanced product portfolio and by implementing optimal business strategies,” he told reporters.
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