Nissan April-Dec. Net Profit Slumps 45.2 Pct

Economy

Yokohama, Feb. 12 (Jiji Press)--Nissan Motor Co. <7201> said Tuesday that its group net profit in April-December 2018 slumped 45.2 pct from a year earlier to 316,663 million yen.

Nissan reported an operating profit of 313,677 million yen, down 13.9 pct, on sales of 8,578,426 million yen, up 0.6 pct.

For the first three quarters of fiscal 2018, the automaker booked 9,232 million yen in costs of remuneration to former Chairman Carlos Ghosn that had not been reported in past annual securities reports.

Ghosn has been indicted in Japan on charges of financial misconduct, including underreporting of his pay.

For the full year ending next month, Nissan cut its net profit projection to 410 billion yen from 500 billion yen, the operating profit estimate to 450 billion yen from 540 billion yen and the sales forecast to 11.6 trillion yen from 12 trillion yen.

[Copyright The Jiji Press, Ltd.]

Jiji Press