Nissan raises profit forecast

Nissan raised its earnings forecast for the fiscal year after reporting a nearly 21% jump in quarterly profit.

The Japanese carmaker said today that sales were strong in the United States and Europe and the cheap yen boosted overseas revenue.

Nissan Motor Co reported a better-than-expected 101.8 billion yen (€755m) net profit for October-December. Quarterly sales surged about 17% to 2.94 trillion yen (€21.6bn).

The carmaker said improved sales in the US and Europe offset a decline at home in Japan.

Yokohama-based Nissan, which makes the Leaf electric car, the Altima and the Infiniti luxury models, expects a 420 billion yen (€3.1bn) profit for the fiscal year through to March, marking an 8% rise year-on-year.

Previously, it had projected a 405 billion yen (€3bn) profit.