Nissan Reports Profit for Fiscal Year 2021

Multinational Japan-based automotive company Nissan posted a profit of 215 billion yen ($1.67 billion) in fiscal 2021.

Nissan Reports Profit for Fiscal Year 2021. Japan-based automotive giant Nissan reported a profit of 215 billion yen ($1.67 billion) in fiscal 2021, after the loss it suffered in fiscal 2019 and 2020. In the statement made by Nissan, the comprehensive balance sheet for the 2021 fiscal year ending in March and the comprehensive expectations for the 2022 fiscal year were announced. Accordingly, Yokohama-based Nissan, which announced a net loss in fiscal 2019 and 2020, passed a net profit in fiscal 2021. Having recorded a loss of 448.7 billion yen in the last fiscal year 2020, Nissan recorded a net profit of 215 billion yen ($1.67 billion) in the fiscal year ending in March. After reporting an operating loss of 150.6 billion yen in the previous fiscal year, Nissan posted an operating profit of 247.3 billion yen ($1.91 billion) in fiscal 2021.

150 Billion Yen Profit Expected in Fiscal Year 2022

The Japanese firm expects net profit for the 2022 fiscal year, which will end in March 2023, to 150 billion yen ($1.16 billion), down 30.4 percent. It was stated that the expectation of a decrease in net profit was due to rising raw material prices and global semiconductor chip supply shortages. With new model introductions, global sales are expected to reach 4 million and operating profit is expected to rise 1.1 percent to 250 billion yen ($1.93 billion). Making a statement on the subject, Nissan Chief Executive (CEO) Makoto Uchida pointed to the impact of the Russia-Ukraine crisis on global markets and said, "We expect a year in which a highly competitive business environment will be experienced."       Source: Bloomberg