BOJ governor Kuroda made a speech today during the scheduled press confidence at 10:30 MT time…
Nissan cuts its net revenue in the fourth quarter by 32%
Japanese car Nissan Motor Co. cut net its income up 32% in the fourth quarter of the fiscal year ending March 31, to about 168.8 billion yen from 249 billion yen in the same period of 2017.
Besides this, the forecasts of its financial indicators for this year turned out to be weaker than market expectations.
Nissan informed that quarterly revenue dived by 0.9% hitting 3.4 trillion yen.
The adverse impact on the outcomes of the previous financial year was worsened by the increased production costs as a result of illegal inspections and also group claims in the USA in connection with the use of defective Takata airbags in Nissan vehicles.
Simultaneously, tax reform in the United States helped Nissan to ramped up its annual net revenue by 12.6% to about 746.9 billion yen.
In 2017, net sales of Nissan rallied by 2% from 11.72 trillion to 11.95 trillion yen. Operating revenue dived 22.6% reaching 574.8 billion yen, while operating revenue margin slumped by 1.5% to 4.8%.
The consensus forecast of analysts surveyed by Bloomberg agency for annual net revenue accounted for 727.16 billion yen.
Global car maker’s sales for the year rallied by 2.6%, being worth 5.77 million vehicles, thus setting a new record. The company actually expected to have 5.78 million vehicles sold per year.
In Japan, sales of Nissan jumped by 4.8% - up to 584 thousand vehicles.
The sales of Nissan cars in Europe without Russia headed south by 4.6%, to 652 thousand, due to the weakness of the British market as well as increased competition in the crossovers segment.
Meanwhile, in Russia, the Japanese company ramped up sales by nearly 12% to 105 thousand vehicles.
This year Nissan actually expects a reduction in net revenue by one-third to 500 billion yen and operating revenue by 6.1%, to 540 billion yen.
In September, business morale stood still in Germany, underpinned by construction and consumer spending, as a poll revealed…
The main focus for EUR/USD today will be on the ECB president Mario Draghi speech at 4 pm MT time…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…