Nissan Operating Profit Dives 85 Pct in 1st Half

Economy

Yokohama, Nov. 12 (Jiji Press)--Nissan Motor Co. <7201> said Tuesday its consolidated operating profit tumbled 85.0 pct in its fiscal first half ended in September from a year before due to sliding vehicle sales worldwide.

The Japanese automaker reported an operating profit of 31,608 million yen for the six-month period, compared with a profit of 210,335 million yen a year before.

Nissan is reviewing the policy of pursuing scale that had been led by former Chairman Carlos Ghosn, who has been charged with financial misconduct in Japan.

The company's earnings performance remained disappointing after its operating profit dived 98.5 pct to 1,609 million yen in the April-June quarter.

Vehicle sales dropped in key markets such as North America, China and Europe. Higher raw materials costs weighed on the company. The yen's rise pushed down its operating profit by 27.5 billion yen.

[Copyright The Jiji Press, Ltd.]

Jiji Press