Tokyo, May 12 (AFP/APP): Nissan reported a positive full-year net profit for the first time in three years on Thursday, citing cost-saving efforts and a stronger US market, but issued cautious forecasts.
The Japanese auto giant was on a rollercoaster even before the disruption caused by the pandemic and, more recently, the conflict in Ukraine.
It had battled slowing demand and the fallout from the arrest of its former chief Carlos Ghosn and is currently implementing a plan involving slashing models, cutting costs and restructuring operations.
It cited some of those efforts in reporting an annual net profit of 215.5 billion yen ($1.67 billion) — its first net profit since fiscal year 2018-19 — which surpassed its forecast of 205 billion yen.
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