Nissan's profit drops 43 percent on rising yen, provisions for declining kaiser henry j cars value of leased cars
japan earns nissan 073108
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Home | Business
Nissan's profit drops 43 percent on rising yen, provisions for declining value of leased cars
Associated Press
Last update: August 1, sprint cars 2008 - 5:53 AM
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TOKYO - Nissan Motor Co. light bulbs for cars said Friday its net profit for the April-June quarter dropped 42.8 percent, hit by a rising yen and accounting vip style cars gallery provisions for the declining value of fuel effecient cars leased vehicles.
Japan's third-largest automaker weird cars said net profit fell to 52.8 billion yen ($505 million) toy pedal cars for cop cars the quarter, used cars lundsford while sales fell 4.1 percent from a year earlier to 2.3 trillion yen ($22.4 billion).
"In railroad cars the cars lightning freebird face of cars for sale st johns newfoundland the severe operating environment, Nissan remains resilient but cautious on the outlook for our industry," said Chief Executive used cars for sale in indiana Carlos Ghosn in a statement.
"We have identified the major risks and taken actions to address worst used cars them, particularly in the U.S. market," he said.
Despite a slump in demand in the U.S. classic cars and Japanese markets billy gibbons cars and soaring material costs, Nissan kept its earnings forecasts american muscle cars for sale for the current fiscal year mouse trap powered cars through March 2009 with a net profit of 340 billion yen ($3.3 billion). Sales are likely to stay at 10.4 trillion yen ($99 billion).
Nissan's global sales for the April-June quarter rose 6.9 percent from acura cars a year earlier to european sports cars 1950s in america 936,000 vehicles.
But its sales in the U.S. market fell 1.5 percent used cars in fayetteville ar to cars for sell 253,000 units, Nissan used cars in florida said. It said the American auto market shrank by 12 percent during used cars wholesale prices the quarter.
Nissan's North American sales edged old fashioned cars up 1.9 cheap cars in albany georgia percent to 330,000 units.
Sales in Japan fell 2.2 percent to 148,000 units, while those in Europe were flat at 156,000 units.
Nissan was hit hard by cub scout pinewood derby cars a stronger yen in the quarter compared with the same period last how remote control cars turn year. A strong yen makes Japanese goods less competitive abroad and eats into exporters' heny j cars profits when repatriated.
Nissan said test drive unlimited pc cars foreign exchange losses amounted to 54.7 find used cars billion yen kit cars dragon ($523 million) in the quarter. Accounting ghetto cars provisions booked for electric cars of arkansas the declining value of leased vehicles in the United States and Canada totaled 42 billion yen ($402 million).
Nissan shares allison powered race cars fell 1.4 percent to 828 yen Friday in Tokyo. Earnings were announced after trading ended.
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