Nissan eclipses Toyota with ¥341 billion profit

Kyodo

Nissan Motor Co. on Friday posted a consolidated net profit of ¥341.43 billion for 2011, surpassing Toyota Motor Corp. for the first time ever on strong global sales despite natural disasters and a strong yen.

Nissan’s net profit represents a 7.0 percent gain on 2010.

Toyota’s net profit stood at ¥283.5 billion for 2011.

Nissan also reported an operating profit of ¥545.84 billion, up 1.6 percent from the previous year, on sales of ¥9.41 trillion, up 7.2 percent.

Sales jumped especially in emerging markets, with Brazil spiking 94.8 percent to 81,000 vehicles, and Indonesia 41.8 percent to 60,400. Chinese sales surged 21.9 percent to 1.25 million vehicles.

For business 2012 ending in March 2013, Nissan expects operating profit to jump 28.2 percent to ¥700 billion, on sales of ¥10.3 trillion, up 9.5 percent.

Saying Nissan will see “another record year,” Nissan President Carlos Ghosn said this year’s global target is 5.35 million vehicles.