Nissan Motor Co., Ltd. (NSANF.PK,NSANY.PK) reported that its nine-month net income to owners of parent, on China JV equity basis, increased to 325.4 billion yen from 115.0 billion yen, last year. Earnings per share was 83.45 yen compared to 29.38 yen. Operating profit increased to 478.4 billion yen from 289.7 billion yen, previous year. On a management pro forma basis, which includes the proportionate consolidation of results from joint venture operation in China, operating profit was 487.1 billion yen, for the period.
For the nine month period, net sales were 9.17 trillion yen compared to 7.50 trillion yen, previous year. The Group said the increase in revenues and operating profit was driven primarily by improved unit sales and optimized pricing in its key regions.
For fiscal 2023, the company has adjusted its forecast for full-year sales volume from 3.7 million to 3.55 million units due to temporary logistics disruption and intensifying competition. The company maintained an unchanged outlook for its financial performance.
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