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 per cent on-year to 134.9 billion yen ($1.2 billion) while operating profit fell 12.8 per cent to 153.3 billion yen. The maker of the Altima sedan said in a statement that it was hit by “rising raw material costs, adverse foreign exchange impacts, and slower than anticipated growth in key markets”.
Sales rose 4.0 per cent to 2.76 trillion yen. “Overall, results were in line with the company’s expectations and the company expects improved profitability for the remainder of the year,” the group said.
