Nissan forecasts 11% decline in annual operating profit

By: | Published: May 12, 2016 1:25 PM

Nissan Motor Co on Thursday forecast operating profit to decline 11 percent this business year as the Japanese automaker feels the sting of a strengthening yen.

Nissan Motor Company, Nissan Motor Company News, Nissan Motor Company LtdAfter operating profit jumped 35 percent to 793.3 billion yen (.3 billion) in the 2015/16 financial year, Japan’s second-largest automaker said it expected profit for the current year to fall to 710 billion yen. (Reuters)

Nissan Motor Co on Thursday forecast operating profit to decline 11 percent this business year as the Japanese automaker feels the sting of a strengthening yen.

After operating profit jumped 35 percent to 793.3 billion yen ($7.3 billion) in the 2015/16 financial year, Japan’s second-largest automaker said it expected profit for the current year to fall to 710 billion yen.

That undershoots an average estimate of 742.7 billion yen, from 27 analysts surveyed by Thomson Reuters .

Nissan is forecasting net profit will be flat this year at 525 billion yen.

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