Nissan posted a 14% drop in quarterly net profit ($939M) vs. one year ago, despite a 10.7% increase in operating
profit ($1.85B). Depending on what side of the domestic/import fence you sit on, you can choose the number that brings
joy to your life. Blame some of the disparity on new Japanese accounting rules, which brought about a one-time charge
of about $264M, and changes to its employee pension fund that required about $300M in additional funding. Sales for the
quarter grew 12.6% worldwide and 18.1% in the US market. Nissan is sticking to its profit projections of a 1% increase
in operating profit for the fiscal year, stating that increased material costs, exchange rates, and competitive market
conditions will continue to take their toll.
Nissan posts increased, and decreased, profit numbers
Nissan posted a 14% drop in quarterly net profit ($939M) vs. one year ago, despite a 10.7% increase in operating profit ($1.85B). Depending on what side of the domestic/import fence you sit on, you can choose the number that brings joy to your life. Blame some of the disparity on new Japanese accounting rules, which brought about a one-time charge of about $264M, and changes to its employee pension fund that required about $300M in additional funding. Sales for the quarter grew 12.6% worldwide and 18.1% in the US market. Nissan is sticking to its profit projections of a 1% increase in operating profit for the fiscal year, stating that increased material costs, exchange rates, and competitive market conditions will continue to take their toll.