Nissan Motor Co. announced Thursday that it forecasts a 19 percent profit drop for the current business year through March 2018, echoing gloomy forecasts given earlier by two other Japanese auto giants — Toyota Motor Corp. and Honda Motor Co.
Nissan said it estimates a ¥535 billion net profit for the business year running from April 1, down 19.4 percent on year. It also said operating profit would drop 7.7 percent to ¥685 billion, despite a 0.7 percent rise in sales.
The automaker said the forecasts are due to an expected increase in material costs and negative impacts from fluctuations in foreign exchange rates.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.