Nissan Motor Company today said in a statement that it thinks full-year profits will fall 15% and net income may decline to ¥270 billion (~$3.4 billion) for 12 months ending 31 March 2012. That’s down from ¥319.2 billion compared to the 2010 fiscal year. The financial results were based on foreign exchange rate assumptions of ¥80.:$1 and ¥115:1€.
“Continuous growth in 2011 will bring Nissan a new record volume,” said Nissan President and CEO Carlos Ghosn. “The unrelenting work ethic of Nissan employees is an inspiration – particularly after one of the worst natural disasters in modern history.”
Nissan filed the following forecasts with the Tokyo Stock Exchange:
- Net revenues of 9.4 trillion yen ($117.5 billion, € 81.74 billion);
- Operating profit of 460 billion yen ($5.75 billion, €4 billion);
- Ordinary profit of 441 billion yen ($5.51 billion, €3.83 billion);
- Net income of 270 billion yen ($3.38 billion, €2.35 billion);
- Capital expenditures of 410 billion yen (US $5.13 billion, €3.57 billion); and
- R&D expenses of 460 billion yen ($5.75 billion, €4 billion).
The company is forecasting global sales for fiscal year 2011 to be 4.6 million units, an increase of 9.9% compared to the previous year, and is planning to double dividend payments for fiscal year 2011 to ¥20 for the full year. Nissan anticipates a return to full unrestricted production in October, as parts suppliers fully recover from the earthquake on March 11.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
