Nissan Motor Co. announced Thursday that it forecasts a 19 percent profit drop for the current business year through March 2018, echoing gloomy forecasts given earlier by two other Japanese auto giants — Toyota Motor Corp. and Honda Motor Co.
Nissan said it estimates a ¥535 billion net profit for the business year running from April 1, down 19.4 percent on year. It also said operating profit would drop 7.7 percent to ¥685 billion, despite a 0.7 percent rise in sales.
The automaker said the forecasts are due to an expected increase in material costs and negative impacts from fluctuations in foreign exchange rates.