Nissan annual profit soars to $4.2 bn on weak yen, new models

Tokyo: Nissan on 13th May, said its fiscal-year net profit soared 17.6 percent to $4.2 billion, crediting a weak yen and new model rollouts for buoyant results that drove past its own earlier forecasts.

Japan`s number-two automaker reported a 457.6 billion yen profit in the year to March, it had been expecting earnings of 420 billion yen on sales of 11.38 trillion yen, up 8.5 percent.

The company projected an even stronger 485.0 billion yen profit this business year.

Also Wednesday, however, Nissan and Toyota separately announced a huge recall tied to an exploding air bag crisis, with Nissan calling back 1.56 million vehicles while its rival recalled five million vehicles globally.