Nissan Motor (7201T. NSANY ADR) financial results for the full year and the fourth quarter of the Japanese fiscal year ending 31 March 2024 show full year net operating profit of $2.7 billion was up +51% year over year with its automotive business posting an operating profit of ¥260 billion.

Global sales remained at 3.44 million units, which were squeezed by intensified s competition. Nissan’s consolidated net revenue was ¥ 12.686 trillion. The operating profit of ¥568.7 billion translates to an operating margin of 4.5%. “This was due to logistics, other risks such as the Noto Earthquake and various cost relief made to suppliers such as inflation, and other factors,” Nissan said.