Nissan Raises Profit View as Currency Helps Offset Shortages
- Production target cut by 7.5% to 3.7 million vehicles
- Nissan, Renault having production discussions, CEO says
Nissan shares are down 11% this year.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Nissan Motor Co. raised its profit outlook as a weak yen boosted repatriated income, helping to compensate for a persistent shortage of chips and supply-chain constraints that have curtailed output in the industry.
Operating profit for the fiscal year through March will be ¥360 billion ($2.5 billion), the Japanese automaker said in a statement Wednesday. That’s an upgrade from an outlook for ¥250 billion announced in July, and exceeds analysts’ average estimate of ¥337 billion.