- Hezbollah heir apparent Safieddine out of contact after strikes
- Liverpool stay top of Premier League as Arsenal, Man City win
- In dank Tour of Emilia, Pogacar shines in rainbow jersey
- DR Congo launches mpox vaccination drive, hoping to curb outbreak
- Trump returns to site of failed assassination
- Careless Leverkusen held to Bundesliga draw
- O'Brien's 'superstar' Kyprios posts landmark win on Arc weekend
- Liverpool suffer Alisson injury blow
- Habosi helps Racing beat Vannes before Auradou's playing return
- Thousands march in London in support of Palestinians, 1 year after Oct 7
- Israel readying response to Iran missile attack
- Schutt, Mooney help Australia beat Sri Lanka in Women's T20 World Cup
- Liverpool extend Premier League lead with win at Palace
- Djokovic 'shakes rust off' to make third round of Shanghai Masters
- 'Imperfect' PSG fighting on all fronts - Luis Enrique
- Struggling Pakistan look to thwart adaptable England
- Child 'trampled to death' in asylum seekers' Channel crossing: minister
- Gauff fights back to set up Beijing final against Muchova
- Guardiola claims Premier League won't delay season for Man City
- Israel to mark October 7 attack as Gaza war spreads
- Gauff fights back to reach China Open final
- Recovering Stokes ruled out of first Pakistan Test
- Hezbollah battles troops on border as Israel pounds Lebanon
- Alcaraz, Sinner breeze into third round of Shanghai Masters
- Bagnaia wins Japan MotoGP sprint to cut Martin's lead
- Alcaraz breezes into third round of Shanghai Masters
- Gaza cultural heritage brought to light in Geneva
- 'Bullet for democracy': Trump returns to site of rally shooting
- Italy targets climate activists in 'anti-Gandhi' demo clampdown
- South Korean cult-horror series 'Hellbound' returns at BIFF
- Nepalis fear more floods as climate change melts glaciers
- Honduras arrests environmentalist's alleged murderer
- Padres pitcher Musgrove needs elbow surgery
- Supreme Court lets stand rules to curb mercury, methane emissions
- Boston beat Denver in NBA exhibition season opener, but Jokic says omens are good
- Chagos diaspora angry at lack of input on islands' fate
- Biden says 'not confident' of peaceful US election
- US trade chief defends tariff hikes when paired with investment
- Lukaku stars as Napoli beat Como to hold Serie A top spot
- Ohtani set for MLB playoff debut as Dodgers face Padres
- Pogba's drug ban cut to 18 months from four years
- Devine leads New Zealand to big win over India in Women's T20 World Cup
- Bosnia floods kill 16 people
- EU court blocks French ban on vegetable 'steak' labelling
- Prosecutors seek dismissal of rape charges against French rugby players
- Meta AI turns pictures into videos with sound
- Bolivia's Morales says claims he raped a minor are a 'lie'
- MLB Reds hire two-time champion Francona as manager
- Daniel Maldini receives first Italy call-up for Nations League
- US dockworkers return to ports after three-day strike
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.
C.Cassis--PC