Nissan logs 56% climb in net income in its fiscal Q3

Article by Anita Panait, on February 12, 2014

Nissan Motor Co. logged a 57-percent surge in net income in its fiscal quarter ended Dec. 31, 2013, to JPY84.3 billion ($825 million). That makes Carlos Ghosn-led Nissan the least profitable Japanese carmaker at a time when the weaker yen is boosting profits at most of the country’s exporters. Nissan missed out on the earnings windfall from the weaker yen.

It is also still rebounding from production delays and is facing slowing emerging markets. "There's a sense of crisis in the company and Ghosn has started to address problems," said Tsuyoshi Mochimaru, an auto analyst at Longine. "Things will improve, but will take some time." Net income in the fiscal quarter, however, was 33 percent higher than the average of nine analyst estimates polled by Bloomberg.

Nissan’s third-quarter operating profit (JPY78.7 billion) was 29 percent below the average estimate. Nissan also adjusted year-earlier figures to reflect accounting changes.

Three months ago, Ghosn disclosed a management shuffle after Nissan trimmed its profit forecast by 15 percent, blaming higher-than-expected incentives in the United States, poor execution and slower growth in emerging countries.

Ghosn eliminated the chief operating officer role and made a number of executive changes. He also reorganized operations to six regions from three, breaking out markets like China, to improve execution. Nissan posted a 3.3-percent rise in sales in 2013 to a record 5.1 million units.

Topics: nissan, income

If you liked the article, share on:

Comments

Recommended

There is definitely a second-generation Super Series from McLaren. Even in camouflaged form, it is simply incredible. But while we still don’t have the full data on how truly dynamic...
by - February 25, 2017
A lot of fans are excited with the news that Porsche could be unveiling a performance version of its Panamera 4 E-Hybrid plug-in hybrid during the 2017 Geneva Auto Show. ...
by - February 25, 2017
Tesla is finally setting a more “definite” schedule with regards to the official launch of the Tesla Model 3 electric car. A “limited production” is said to be slated to...
by - February 25, 2017
Are you a big fan of legendary boxer Mike Tyson, the former heavyweight world champion? Or are you a big fan of the iconic Ferrari F50? Either way, you will...
by - February 24, 2017
It seems that AM-RB 001 hypercar is not the only vehicle project that Aston Martin and Red Bull Racing has gone into. This time, don’t expect something as outlandish as...
by - February 24, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries