Nissan profit rises

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Nissanlogo Reuters. A logo of Nissan is pictured outside the company headquarters building in Yokohama, south of Tokyo.

Tokyo - Nissan's quarterly profit edged up nearly 5 percent as sales grew around the world and a favourable exchange rate helped earnings.

Nissan Motor reported Monday that January-March profit totalled 114.9 billion yen ($1.1 billion), up from 109.7 billion yen the year before.

Quarterly sales rose more than 20 percent to 3.2 trillion yen ($31 billion).

Nissan said its sales growth was outpacing the industry.

The Japanese automaker is expecting continued growth for the current fiscal year that began April 1, according to chief executive Carlos Ghosn.

A weak yen has been a boon for Japanese exporters such as Nissan, which makes the March subcompact, Infiniti luxury models and the Leaf electric car.

The dollar has strengthened from about 80 yen a year ago to about 102 yen recently. - Sapa-AP



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