Nissan's Q2 group net profit rises 36.3%

TOKYO - Nissan Motor Corp announced Wednesday its group net profit for the April-June quarter rose 36.3 percent from a year earlier, citing robust sales in its North American and European markets and a weaker yen.

The Yokohama-based automaker said its group net profit in the recording period came in at 152.8 billion yen ($1.2 billion) on sales of 2.9 trillion yen, an increase of 18 percent from a year earlier.

The maker of the sporty 370Z coupe and the Leaf electric car, also said its operating profit rose 58 percent to 193.71 billion yen in the quarter, and stated it sold 1.29 million vehicles during the period, with the increase topping the market average.

Nissan, Japan's second-biggest automaker after Toyota, maintained its earnings outlook for the full business year through March 2016, stating it expects its group net profit to total 485 billion yen, an increase of 7 percent from the previous year.

The firm also kept its operating profit projection of 675 billion yen, a rise of 14.5 percent, on sales of 12.1 trillion yen, an increase of 6.4 percent. The automaker's solid outlook is down to expectations of selling 5.55 million vehicles this fiscal year, with its Titan and Lannia models expected to sell well, henceforth, in the US and China respectively, it said.