The Japanese giant of the automobile industry nissan announced this Thursday a positive annual net profit for the first time in three years, thanks to the reduction of costs and the US market.
The annual net profit was 215.5 billion yen ($1.67 billion), its first net profit since fiscal 2018-19, beating its forecast of 205 billion yen.
However, the company warned for the future that the market is “more severe than in fiscal year 2021due to shortages of semiconductors, rising raw material prices and logistics costs, as well as the crisis in Ukraine and the impact of lockdowns on parts supply in China.”
Nissan projects net profit for the current fiscal year of 150 billion yena cautious figure like those of other car manufacturers, which are struggling due to the interruption of supplies.
“It is clear that our sector, and therefore our bottom line, has been affected by the intensifying headwinds in the last fiscal year,” said COO Ashwani Gupta.
“These challenges were magnified in the fourth quarter with rising energy prices, continued supply chain shortages and continued disruptions from Covid-19,” it added.