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.
