Nissan's Profit Was Not Affected By The Disaster In Japan
Nissan Motor Co. reported a fourth quarter net income for fiscal year 2010-2011 better than analysts' expectations, despite the recorded earthquake in Japan that has stopped production plants and sales halved in the local market.
Nissan has made a surprise profit of 30.8 billion yen (380 million U.S. dollars) within three months of 2011, compared with a loss of 11.6 billion yen recorded in the same period in 2010, exceeding the average of 23 billion yen estimated by analysts.
Sales rose 10%, bringing revenue of 2.35 trillion yen, the company said yesterday.
Nissan has succeeded to increase their profits even if the Japanese manufacturer Toyota reported a drop in revenues after the earthquake of 9 degrees and the tsunami that followed devastated many plants and nuclear plants.
Carlos Ghosn, CEO of Nissan, said the quarter that began on April 1 will be harder for the company as its rivals in Japan back on its feet after the earthquake plants on March 11.
"Nissan has a dependency on lower production from Japan to Toyota, so the impact on revenue is lower," said Koji Endo, an auto analyst in Tokyo.
Toyota has announced profits decline by 77% in the first quarter of 2011.
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