Nissan hikes net profit forecast again despite chip shortage

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Nissan hiked its annual net profit forecast again on strong quarterly results, aiming to weather the global chip shortage as it shifts focus to electric vehicles.

The Japanese car giant now expects yearly net profit to March 2022 of 205 billion yen , having already tripled its annual profit outlook in November to 180 billion yen.

It also follows a series of trials for Nissan, which has faced problems in recent years including weak demand and the fallout from the arrest of former boss Carlos Ghosn. "Despite these challenges, Nissan has revised upward its full-year outlook due to further improvement in performance due to the enhancement of quality of sales and cost optimisation, ongoing depreciation of the yen and a review of the impact of rising raw material prices."

 

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