Companies news

Nissan Motor Co. revises last year's financial results downwards

Nissan Motor Co. has announced a 14% decline in operating profit compared with previous forecasts.

“The business environment is very difficult, not only for us, but also for our suppliers,” said Nissan President Makoto Uchida in an online press conference.

The Japanese car company announced an operating profit down 14% on previous forecasts.

Sales volume fell short of forecasts due to weak sales in the US; as well as the Noto earthquake, which caused a delay in parts supply.

According to Nissan's announcement, sales are expected to total 12,600 billion yen, 400 billion yen or 3% less than the previous forecast; operating profit has also been revised downwards by 90 billion yen or 14% to 530 billion yen.