Japanese automaker Nissan has announced that it posted an annual net profit of 221.9 billion yen, equivalent to about $1.6 billion, for the year ended March, slightly above its forecast of 220 billion yen.
The company is also forecasting an even better net profit for fiscal 2023–2024, with a forecast of 315 billion yen, an increase of 42%. As highlighted by the company, this success is due to its transformation plan launched in 2020, focused on profitability and greater financial discipline, and favorable exchange rates.
Despite the difficult market context, with raw material price increases and a lack of semiconductors, Nissan has recovered after the impact caused by the pandemic, the war in Ukraine, and the arrest of its former executive, Carlos Ghosn, which caused it to incur losses for two years.
For the next fiscal year, Nissan plans to increase sales volume by 21% to 4 million vehicles, following a 14.7% drop in 2022–2023, particularly due to lower sales in China. In summary, Nissan is in a strong position to continue to grow and expand its business in the near future.
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