Nissan Again Cuts Earnings Estimates
Tokyo, April 24 (Jiji Press)--Nissan Motor Co. <7201> said Wednesday that it has revised down its group earnings projections for fiscal 2018, which ended in March, due chiefly to a rise in customer service costs for the U.S. market.
The major Japanese automaker lowered its net profit estimate from 410 billion yen to 319 billion yen, down some 60 pct from the previous year.
Nissan's sales are now forecast at 11,574 billion yen, down by 26 billion yen from the previous estimate. Its operating profit is estimated at 318 billion yen, against its previous projection of 450 billion yen.
This is the second downward earnings revision for Nissan for the business year, after the one announced in February.
Nissan said that the latest revision reflected "the adverse operating environment facing the company" in January-March.
[Copyright The Jiji Press, Ltd.]