TOKYO: Nissan reported a drop in quarterly net profit on Thursday, hit by higher costs and weak sales in key markets, although it left its annual forecasts unchanged. The Yokohama-based company said for the April-June quarter net profit edged down 1.1 percent on-year to ¥134.9 billion (US$1.2 billion) while operating profit fell 12.8 per cent to ¥153.3 billion. Nissan maintained its earnings forecasts for the current fiscal year to March 2018. It predicted net profit to fall 19.4 per cent to ¥535 billion, largely due to year-before gains from the sale of its non-controlling stake in auto parts supplier Calsonic Kansei. Operating profit is projected to slip 7.7 per cent to ¥685 billion while sales are seen edging up 0.7 per cent to ¥11.8 trillion.

Source: New Strait Times July 27, 2017 09:00 UTC