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Nissan Posts $4.13 Billion Net Profit; Targets $4.42 Billion in Fiscal 2013

May 10, 2013 – Yokohama – Nissan Motor Company’s net profit reached $4.13 billion in the business year ended in March, overcoming challenging conditions in key markets.

Nissan Motor Company CEO Carlos Ghosn

CEO Carlos Ghosn said the full-year earnings are in line with expectations, and Nissan was on course to meet its twin mid-term goals of 8% market share and 8% operating-profit margin by fiscal 2016.

“Overall, these are good results, our balance sheet has never been stronger, we have never had as much cash, we hit our net income after tax, ” said Ghosn. “I would say 2012 was not an exceptional year for Nissan but overall it’s good.”

Nissan sales were especially strong in fast-growing auto markets including Thailand, Indonesia and Brazil, offsetting business headwinds in the U.S. and China.

Ghosn said Nissan has fixed supply issues that slowed sales of new Altima and Pathfinder models in North America, while retail sales in China have recovered since political tensions tempered demand last year.

CEO Ghosn on FY2012 results

“We should be fully recovered by the end of the year 2013, when our market share will be back to a higher level than before the event,” Ghosn said. “We will resume our progression, not only the progression of sales but also of market share in China.”

For the full year, Nissan delivered a record 4.91 million vehicles, an increase of 1.4%, with cumulative LEAF electric vehicles sales reaching 62,000.

Ghosn said ten new models, including a first new Datsun brand vehicle, will spur momentum with sales this year set to hit a new best of 5.3 million vehicles worldwide with a projected net profit of $4.42 billion.

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