Nissan Motor announced that its net profit for the April-December 2022 period decreased by 42.9% compared to the same period of the previous year.
In the statement made by the Japanese manufacturer, Nissan, the Yokohama-based company’s net profit for the April-December 2022 period decreased by 42.9% compared to the same period of the previous year, to 115 billion yen ($877 million).
The firm’s operating profit rose 51.4% to 289.8 billion yen ($2.2 billion) in the 9-month period, with sales revenues rising 21.9% to 7.5 trillion yen ($57 billion).
It was emphasized that the increase in raw material costs and the negative effects of the semiconductor supply gap were felt in the decrease in net profit.
“Consistency” message
In a statement, Nissan Chief Executive Officer (CEO), Ucida Makoto, described the situation in the job markets in the third quarter as “pretty challenging”.
“It is difficult to predict the future business environment. We will continue our efforts for fiscal year forecasts in the fourth quarter,” said Ucida.
Fiscal year expectation
Nissan reported that it maintains its comprehensive expectations for the 2022 fiscal year, which will end in March 2023.
Targeting 10.9 trillion yen ($82.9 billion) sales revenue, the Japanese firm expects 155 billion yen ($1.17 billion) net profit, 360 billion yen ($2.73 billion) operating profit.
Source: AA / Prepared by Irem Yildiz