Nissan halves profit forecast for fiscal 2008
Nissan Motor Co sharply cut its earnings forecast for the full year that runs through March 2009 on the yen's rise and slow overseas sales, the company said Friday.
Japan's third-largest automaker lowered its net profit projection by 53 per cent to 160 billion yen for the full year from an initial forecast, reported dpa.
Nissan halved an operating profit forecast at 270 billion yen for the full year and lowered sales by 7.2 per cent to 9.6 trillion yen.
For the second quarter through September, the automaker saw its net profit fall 38.8 per cent to 73.5 billion yen from a year before.
Operating profit plunged 48.9 per cent to 111.7 billion yen, while sales were down 3.7 per cent to 2.52 trillion yen in the July-September quarter, the company said.