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Nissan Profit Forecast Misses Estimates on Fading Yen

Nissan Motor Co., Japan’s second-biggest carmaker, forecast profit that missed analysts’ estimates, as intensifying competition drives up incentive spending in the U.S.

Net income will climb 4 percent to 405 billion yen ($4 billion) in the year ending March 31, the highest since the 2008 fiscal year, the Yokohama, Japan-based company said in a statement yesterday. That’s about 5 percent below the average of 20 analyst estimates compiled by Bloomberg.