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| Nissan's profit drops 43 percent on rising yen, provisions for declining value of leased cars japan earns nissan 073108 Home News Local Sports Lifestyle Entertainment Opinion Multimedia Classifieds Cars Homes Jobs Shopping Help Search: All News Local Websites Yellow Pages Shopping Classifieds Paid Archives Jobs Yellow Pages | Advanced Search | Help Sell a car Post a job Sell your home Sell your stuff StarTribune.com content is available via e-mail, mobile devices and as RSS used cars stratham feeds. E-mail newsletters Mobile content RSS feeds On Sale calendar Coupons + Deals E-mail offers Advertise with us Home waynes used cars | Business Nissan's profit drops 43 percent on rising yen, provisions for declining value of leased cars Associated Press Last update: August 1, 2008 - 5:53 AM Print this story E-mail this story Save to del.icio.us Share on newsvine Share on Digg Minnesota business by the numbers See Minnesota's top earning companies, CEOs and non-profits Star Tribune 100 Executive compensation Non-profit 100 More from Business AP NewsAlert Ford, Toyota US sales fall in July Jobless rate climbs as 51,000 jobs vanish NY attorney general threatens to charge Citigroup Anheuser-Busch says data loss affects employees TOKYO - Nissan Motor Co. said Friday its net profit national discount cars for the April-June quarter dropped 42.8 percent, hit by a rising yen and accounting provisions for the declining value of leased vehicles. Japan's third-largest automaker said net profit fell to 52.8 billion yen ($505 million) for the quarter, while sales fell 4.1 percent from a year earlier to 2.3 trillion yen ($22.4 billion). "In the face of the severe operating environment, Nissan remains resilient but cautious on the outlook for our industry," said Chief Executive Carlos Ghosn in a statement. "We indian cars have identified the major risks and taken actions to address them, particularly in the U.S. market," he said. Despite a slump in demand in the U.S. and Japanese markets and soaring material costs, Nissan kept its earnings forecasts for the current fiscal year through March 2009 with a net profit of 340 billion yen ($3.3 billion). Sales hemi cars fpr sale are likely to stay lowrider model cars at 10.4 trillion yen ($99 billion). Nissan's global sales for the April-June quarter rose 6.9 percent from a year earlier to gps systems for cars 936,000 vehicles. But its sales in the U.S. market fell 1.5 percent to 253,000 units, Nissan said. It said the American auto market shrank by 12 percent during the quarter. Nissan's North American sales edged up 1.9 percent to 330,000 units. Sales in Japan fell 2.2 percent to 148,000 units, while those in Europe were flat nissian making cars with chyler at 156,000 units. Nissan was hit hard by a stronger yen in the quarter compared with the same period cars limited marshall last year. A strong yen makes Japanese goods less competitive abroad and eats into exporters' profits when repatriated. Nissan said foreign exchange losses amounted to 54.7 billion yen ($523 million) in the quarter. Accounting provisions booked for the declining value of leased vehicles in the United States and Canada test drive unlimited pc cars totaled 42 billion yen ($402 million). Nissan shares fell 1.4 percent custom built model cars to 828 yen Friday in Tokyo. Earnings were announced after trading ended. 100,000-square-foot project planned along light rail line Mexico's unfolding oil crash Megabus: The cheap seats to Chicago Pioneer in 'clean tech' coming back to his Minnesota roots Blueberry growers await upshot of acreage increase GM posts $15.5B 2Q toy pedal cars loss, 3rd-worst in its history Airfares unlikely to match oil-price descent Mexico's unfolding oil crash Megabus: The cheap seats to Chicago Blueberry growers await upshot of acreage increase Pioneer in 'clean tech' new fuel efficiant cars coming back to his Minnesota roots 100,000-square-foot project planned along light rail line Blog: Patent Pending Top VC honcho leaves Best Buy Marti Nyman, a well-regarded executive who served as Best Buy’s top liaison with Silicon Valley, has left the company amid rumors of a shakeup in the retailer’s fledgling venture luxury cars for rent in seattle capital unit. Nyman all cars left the Richfield-based company a few weeks back, said Best Buy spokeswoman Susan Busch. She did not say why. Nyman did not return a message [...] Recent posts Spineology nets extra cash Are CT scans for the heart useless? St. Cloud program hopes to take off © 2008 Star Tribune. All rights reserved. Feedback|Terms of Use|Privacy pics of cars Policy|Member Center|Company Site|Star Tribune Company Store|Company Directory & Contacts Company Jobs|Advertising Information|Newspaper Subscriptions & Service|eEdition|Newspaper In chandler used cars Education 425 Portland Av. S., Minneapolis, MN 55488 ultramini cars (612) 673-4000 StarTribune.com is powered by Clickability |
