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Nissan Motor net income $1.12 billion

Staff writer |
Nissan Motor Corp. reported that its net income increased to 114.9 billion yen ($1.12 billion) in the company's fiscal fourth quarter, from 109.7 billion yen ($1.07 billion) a year earlier.

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Revenue gained 21 percent to 3.2 trillion yen ($31.13 billion), from a year earlier, as worldwide sales advanced 18 percent to 1.52 million vehicles.

Robust sales and profits from North America, Nissan's biggest and most profitable market, drove overall results higher and offset weaker business in Europe and Japan. Nissan's U.S. sales have outpaced total market growth, handing it new market share.

North American operating profit soared 73 percent to 104.0 billion yen ($1.01 billion) in the three-month period, from 60.1 billion yen ($584.6 billion) a year earlier.

Regional sales climbed 11 percent to 443,000 vehicles.

Nissan's European business rebounded to 300 million yen ($2.9 million) operating profit in the fourth quarter, from an 11.9 billion yen ($115.8 million) loss the year before.

But Europe remained Nissan's weakest major market, swinging to an operating loss of 23.6 billion ($229.6 million) for the fiscal year, after generating a thin profit the year before.

European sales rose 14 percent to 205,000 vehicles in the fourth quarter, but they expanded only up 2 percent to 676,000 units for the full fiscal year.

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