NISSAN MOTOR CO. - Nissan Motor Co., Ltd. announced its financial forecasts for fiscal year 2011 (April 1, 2011 through March 31, 2012). Based on foreign exchange rate assumptions of 80.0 yen/dollar and 115.0 yen/euro, Nissan filed the following forecasts with the Tokyo Stock Exchange:
Net revenues of 9.4 trillion yen (US $117.5 billion, euro 81.74 billion);
Operating profit of 460 billion yen (US $5.75 billion, euro 4 billion);
Ordinary profit of 441 billion yen (US $5.51 billion, euro 3.83 billion);
Net income of 270 billion yen (US $3.38 billion, euro 2.35 billion);
Capital expenditures of 410 billion yen (US $5.13 billion, euro 3.57 billion); and
R&D expenses of 460 billion yen (US $5.75 billion, euro 4 billion).
The company is forecasting global sales for fiscal year 2011 to be 4.6 million units, an increase of 9.9% compared to the previous year, and is planning to double dividend payments for fiscal year 2011 to 20 yen for the full year. Nissan anticipates a return to full unrestricted production in October, as parts suppliers fully recover from the earthquake on March 11.
"Continuous growth in 2011 will bring Nissan a new record volume," said Nissan President and CEO Carlos Ghosn. "The unrelenting work ethic of Nissan employees is an inspiration – particularly after one of the worst natural disasters in modern history. The high level of motivation and performance of our Nissan team continues to be the foundation of our success."
