Nissan in the first quarter of 2021-22 fiscal year received a net profit of $ 1 billion against a loss earlier

Net profit of the Japanese automaker Nissan Motor attributable to shareholders of the parent company in the first quarter of 2021-2022 fiscal year (ended June 30) amounted to 114.5 billion yen (1.04 billion dollars) against a loss of 285.59 billion yen (2, $ 6 billion) a year earlier, the company said in a report.


Earnings per share for the three months was 29.26 yen ($ 0.3) versus a loss of 73 yen ($ 0.66) a year earlier. Nissan Motor's revenue for the reporting period amounted to 2 trillion yen ($ 18.2 billion), which is 1.7 times higher than a year ago. Operating income was 75.7 billion yen ($ 687.7 million) against a loss of 153.9 billion yen ($ 1.4 billion) a year earlier.


Car sales for the period increased 1.6 times on an annualized basis, to 1.048 million vehicles, while in North America, as in Europe and China, the figure grew 1.7 times. In Japan, sales rose 7%.


"The semiconductor shortage is expected to have a significant impact on Nissan's second-quarter sales. Nissan expects the problem to persist," Vivian Blumenthal said. However, the company is looking forward to the launch of new models, which will support sales. Following the results of the current fiscal year, the company expects to deliver 4.4 million vehicles, which is 8.6% more than in the previous financial year.


Overall, Nissan expects a net profit of 60 billion yen ($ 545 million) for the current fiscal year, although a similar loss was previously expected. Revenue at the end of the year is expected to be 9.75 trillion yen (88.6 billion dollars), not 9.1 trillion yen (82.7 billion dollars), as previously expected. Thus, the growth for the year can be 24%.


“We expect market uncertainty to continue until the end of the year. We will monitor the situation closely and respond to potential risks while continuing to improve sales quality and maintain financial discipline. We expect a recovery in the second half as several new models go on sale on major markets ", - quoted in the release the words of the head of the company Makoto Uchida (Makoto Uchida).


Nissan Motor is one of the largest automakers in Japan and is part of the Renault-Nissan-Mitsubishi alliance.






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