Nissan sees better 2010/11 on emerging markets push

YOKOHAMA, Japan, May 12 (BestGrowthStock) – Nissan Motor Co
(7201.T: ), Japan’s No.3 automaker, forecast a 12 percent rise in
operating profit this year as it prepares an aggressive drive
into emerging markets such as India with a new global compact
car.

For the year to March 31, 2011, Nissan, held 43 percent by
Renault SA (RENA.PA: ), forecast an operating profit of 350
billion yen ($3.78 billion), up from the 311.6 billion yen it
made last year but lagging a consensus forecast of 411 billion
yen in a poll of 22 analysts by Thomson Reuters I/B/E/S.

It expects net profit to more than treble to 150 billion
yen.

Operating profit in the final, January-March quarter was
82.7 billion yen, compared with a loss of 230.4 billion yen a
year earlier, when the economic crisis hammered sales, forcing
the industry to scale back production.

The result was in line with the consensus estimate of 90
billion yen. Nissan posted a fourth-quarter net loss of 11.6
billion yen versus a loss of 276.9 billion yen a year ago.

While Toyota Motor Corp (7203.T: ) and Honda Motor Co
(7267.T: ) have benefited from their lead in fuel-efficient
hybrid models in mature markets, Nissan has grown faster in
China and Europe, where drivers still prefer cheap,
conventional internal combustion engine cars.

Shares in Nissan have fallen about 7 percent in the year to
date, about double the fall in Tokyo’s transport sector
subindex (.ITEQP.T: ).

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(Reporting by Chang-Ran Kim; Editing by Lincoln Feast)

Nissan sees better 2010/11 on emerging markets push