Nissan quarterly profits rise on cost cuts

Nissan announced an operating profit of 77.9 billion yen ($497 million) for the first quarter of the fiscal year, significantly surpassing market expectations, which had been around 7.5 billion yen. The company has achieved four consecutive quarters of profit despite a decline in global sales and rising raw material costs. The weakness of the yen contributed to increased foreign revenues, but the company faces challenges including rising raw material prices, the impact of regional conflicts, and the suspension of production at some of its plants due to an earthquake that struck southern Japan. Nevertheless, Nissan has lowered its fiscal year sales forecast by 5% to 3.15 million vehicles, while maintaining its operating profit outlook at 200 billion yen. The company is striving to restore sustainable profitability after years of crises.

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