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- New Zealand on America's Cup cusp after double triumph
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- Ten Hag slams 'fairy tales and lies' as Man Utd boss comes out fighting
- Hamas mourns Sinwar, vows no hostage release until war ends
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- 'The killings continue': Sinwar death brings no respite for Gazans
- Gaza 'hell on Earth' for one million children: UN
- Maresca 'very happy' with start of Chelsea career
- New Zealand extends America's Cup lead on Britain
- England boss Tuchel deserves unconditional support: Guardiola
- P&G profits dip, says China recovery will take time
- India fight back after Ravindra ton cements New Zealand lead
- US regulator probes Tesla's self-driving mode after crashes
- Four-month-old baby dies as migrant boat sinks off France
- Kenya parliament backs Ruto's nominated new deputy
- Israel strikes Gaza after killing Hamas chief Sinwar
- Mbappe 'seems unaffected' by rape investigation reports: Ancelotti
- N Korea sending 'large-scale' troop deployment to Russia, Seoul spy agency says
- Global stock markets rise on China hopes
- Lebanon slams 'blatant interference' over remarks attributed to Iran official
- Odegaard nearing Arsenal return, says Arteta
- Women priests secretly ordained in the shadow of the Vatican
- Stellantis workers march in Italy over production slump
- Win over England a 'relief' but doesn't fix Pakistan woes, says Masood
- Howe says he was not contacted by FA over England job
- Biden in Berlin vows no let-up on support for Ukraine
- Meta unveils AI tie-up with horror movie producers
- King Charles arrives in Australia for landmark tour
- Stokes sorry for frustration over dropped catches in England loss
- Baby dies, 65 rescued as migrant boat sinks off France
- Slot warns against snap judgements as Liverpool brace for tough week
- Angry Macron blasts media over reporting of Israel comments
- Ukraine's army brigades battle to make enlisting 'sexy'
- India start steadily after Ravindra ton steers New Zealand to lead of 356
- Ravindra's 134 puts New Zealand in command of India Test
- Kenya's Ruto nominates new deputy after impeachment
- Israel conducts raids on Gaza after killing Hamas chief Sinwar
- Asian markets rise as China economy tops forecasts, gold hits record
- Pakistan crush England in second Test to set up series decider
- Harris, Trump to rally voters in key state on same day
- US sees new chance to end Gaza war with Sinwar killing
- From Siberia to the Sahara: Huskies conquer Mauritania
- Ravindra hits ton to extend New Zealand lead to 299 in India Test
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- With record production, Moldova plum farmers hail EU integration
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Nissan hikes net profit forecast again despite chip shortage
Nissan on Tuesday hiked its annual net profit forecast again on strong quarterly results, aiming to weather the global chip shortage as it shifts focus to electric vehicles.
The Japanese car giant now expects yearly net profit to March 2022 of 205 billion yen ($1.77 billion), having already tripled its annual profit outlook in November to 180 billion yen.
Its optimistic outlook comes despite a shortage of semiconductors that has battered automakers worldwide, and which analysts warn may take longer than expected to resolve.
It also follows a series of trials for Nissan, which has faced problems in recent years including weak demand and the fallout from the arrest of former boss Carlos Ghosn.
"Although the sales volume forecast for fiscal 2021 remains unchanged at 3.8 million units, the severe semiconductor shortage and the increase of Covid-19 infections due to the spread of the Omicron strain are affecting plant operations," the company said in a statement.
"Despite these challenges, Nissan has revised upward its full-year outlook due to further improvement in performance due to the enhancement of quality of sales and cost optimisation, ongoing depreciation of the yen and a review of the impact of rising raw material prices."
Nissan reported net profit of 32.7 billion yen in October-December 2021, compared with a net loss of 37.8 billion yen in the same period the previous year, when virus lockdowns battered the auto market.
Revenue in the third quarter was slightly down at 2.2 trillion yen, however. The company's consolidated nine-month results saw year-on-year increases in revenue and net profit.
W.Lapointe--BTB