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Posts Tagged ‘Nissan financial results’

Nissan Q2 Earnings Hurt by Inspection Debacle

Earnings hit by rising sales expenses in the U.S.

by on Nov.08, 2017

Nissan CEO HIroto Saikawa outlines the company's quarterly results in Japan today.

Nissan Motor Co. reported a 21.6% drop in operating profit for the second quarter. The $1.1 billion, or 128.5 billion yen, was the company’s smallest quarterly profit since 2014.

The Japanese automaker suffered in the quarter just ended from rising expenses and costs from improper final inspection procedures on products at its six plants in Japan. The failure to follow procedures forced the company to shut down the plants for several weeks to review the issue.

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The company admitted that uncertified technicians performed final checks for vehicles sold in Japan. The techs were used because some inspection steps had been transferred to other inspection lines, in violation of ministry rules. (more…)

Nissan Reports FY 2015 Profit Jump of 34.6%

Automaker expresses cautious optimism for 2016.

by on May.12, 2016

CEO Carlos Ghosn outlines Nissan's financial results for FY 2015: profits were up 34.6% last year.

Nissan’s takeover of Mitsubishi, in some measure, reflects the company’s successful 2015: Nissan Motors reported revenue of $101.4 billion and an operating profit of $6.6 billion … in short, it had the cash to make the deal happen.

Those figures represent increases of 7.2% and 34.6% respectively. The company earned a 6.5% margin on those earnings and net income of $4.4 billion. Globally, Nissan sold 5.42 million vehicles in the period, a 2% rise year-on-year.

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“These solid results reflect the success of our continuing product offensive, particularly in the North American market,” said Carlos Ghosn, president and chief executive officer. (more…)