Dispute with China over islands leads to 20pc cut in Japan’s Nissan full-year profit forecast
Nissan on Tuesday slashed its full-year profit forecast by 20 per cent as it pointed to the effect of a strong yen, weakness in Europe and slumping sales in China over a bitter territorial row.
Japan’s second-biggest carmaker now tips net profit for the year to March of 320 billion yen (HK$31 billion), down from its earlier estimate of 400 billion yen.
It also said first-half profit slipped 2.8 per cent to 178.3 billion yen on sales of 4.54 trillion yen, which were up 4.1 per cent.
via Business feed http://www.scmp.com/business/companies/article/1076304/dispute-china-over-islands-leads-20pc-cut-japans-nissan-full-year