Nissan Motor Co. on Tuesday forecast a 30 percent decline in profit for the business year to March 2009 due to a stronger yen and weaker demand in the U.S. market.
For last year, Nissan reported a 1.8 percent rise in group operating profit to ¥790.83 billion. Net profit rose 4.7 percent to ¥482.26 billion and sales climbed 3.4 percent to ¥10.82 trillion.
Like many other of the nation's automakers, Nissan said profits were buffeted by a triple shock — the yen's appreciation against the dollar, surging raw materials costs, and the slowing U.S. market — in the January-March quarter, adding that the impact will deepen in the year to next March.
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