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Nissan Forecasts 7.7 Percent Fall in Operating Profit

Nissan expects operating profit to come in at 685.0 billion yen ($6.00 billion) in the year to March, lower than an average estimate of 778.4 billion yen.

Reuters

Updated:May 11, 2017, 12:51 PM IST
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Nissan Forecasts 7.7 Percent Fall in Operating Profit
Nissan Logo. (Photo: Reuters)
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Nissan Motor Co forecast on Thursday a 7.7 percent fall in operating profit this year as the Japanese automaker expects higher raw materials costs and the yen's strength to weigh on its bottomline.

Also Read: Toyota Forecasts 20 Percent Profit Drop on Higher US Sales Cost

Nissan expects operating profit to come in at 685.0 billion yen ($6.00 billion) in the year to March, lower than an average estimate of 778.4 billion yen from 21 analysts polled by Thomson Reuters, and down from a 742.2 billion yen profit posted in the year just ended.

Nissan's forecast is based on a projection that the yen will average 108.0 yen to the U.S. dollar in the year through March, compared with 108.3 yen in the year just ended.

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