Nissan profits up as sales rise worldwideBy AP News May 12, 2014 4:57PM UTC
TOKYO (AP) — Nissan’s quarterly profit edged up nearly 5 percent as sales grew around the world and a favorable exchange rate helped earnings.
Nissan Motor Co. reported Monday that January-March profit totaled 114.9 billion yen ($1.1 billion), up from 109.7 billion yen the year before.
Quarterly sales rose more than 20 percent to 3.2 trillion yen ($31 billion).
Nissan said its sales growth was outpacing the industry. The Japanese automaker is expecting continued growth for the current fiscal year that began April 1, according to CEO Carlos Ghosn.
A weak yen has been a boon for Japanese exporters such as Nissan, which makes the March subcompact, Infiniti luxury models and the Leaf electric car.
The dollar has strengthened from about 80 yen a year ago to about 102 yen recently.