Nissan Becomes Least Profitable Japan Carmaker Amid Yen Boon
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Nissan Motor Co. became Japan’s least profitable carmaker at a time when the weaker yen is driving up earnings at most of the nation’s exporters.
Net income rose 57 percent to 84.3 billion yen ($825 million) in the three months ended Dec. 31, the Yokohama, Japan-based company reported today. While net beat the average analyst estimate compiled by Bloomberg, it was 3.3 percent of revenue, the lowest margin among any Japanese carmaker last quarter. Operating profit was below analysts’ estimates.