NISSAN MOTOR COMPANY - Nissan Motor Co., Ltd., announced an operating profit of 150.4 billion yen (US $1.84 billion, euro 1.28 billion) for the first quarter of fiscal year 2011, ending March 31, 2012.
"Our rapid recovery from the natural disasters in March once again shows the power of Nissan in responding effectively and decisively to crisis," said Nissan President and CEO, Carlos Ghosn. "Nissan's performance in the first quarter, despite strong headwinds such as foreign exchange and rising raw material costs, demonstrates our potential to deliver the goals of our recently announced Nissan Power 88 mid-term plan."
Globally, Nissan sold a total of 1,056,000 vehicles in the first quarter of fiscal year 2011, up 10.6% compared to the same period in fiscal 2010.
Net revenue increased 1.6% to 2.082 trillion yen (US $25.48 billion, euro 17.73 billion), while the ordinary profit amounted to 147.7 billion yen (US $1.81 billion, euro 1.26 billion) and net income totaled 85 billion yen (US $1.04 billion, euro 720 million).
In fiscal year 2011, Nissan will deliver five all-new models globally. In the first quarter, the Tiida hatchback made its debut in China and the Lafesta Highway STAR minivan was launched in Japan. Three more all-new models will be introduced, the NV400 front- and rear-wheel-drive commercial vehicles for Europe and the Infiniti JX in North America.
