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- Israel pounds Lebanon ahead of Hamas attack anniversary
- Two elephants die in flash flooding in northern Thailand
- Sabalenka targets world number one and Wuhan hat-trick
- Toddler among 4 dead in migrant Channel crossings
- Tunisia votes with Saied set for re-election
- Bagnaia sets 'example' with Japan MotoGP win to cut gap on Martin
- Intense Israeli bombing rocks Beirut ahead of war anniversary
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- Austrian rapper channels anti-racist rage in Romani hip-hop songs
- Ohtani magic powers Dodgers over Padres in MLB playoff thriller
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- Man sets arm on fire as marches across US mark Gaza war anniversary
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- Lebanon state media says 'very violent' Israeli strikes hit south Beirut
- Guardians maul Tigers, miracle Mets rally in MLB series openers
- Lebanon state media says Israeli strikes hit south Beirut
- Miami on track for MLS record points after win in Toronto
- Madrid beat Villarreal but Carvajal suffers knee injury
- Madrid beat Villarreal to move level with Liga leaders Barcelona
- Monaco take top spot in Ligue 1 with win at Rennes
- French rugby player on rape charge whistled but 'serene' on return
- Madrid beat Villarreal to level Liga leaders Barca
- Thuram treble fires Inter past Torino and up to second
- 'Fight': defiant Trump jets in to site of rally shooting
- Toddler among 3 dead in migrant Channel crossings
- Mexico City's new mayor sworn in with pledges on water, housing
- Israel on alert ahead of Hamas attack anniversary
- Guardians maul Tigers in MLB playoff series opener
- Macron criticises Israel on Gaza, Lebanon operations
- French rugby player whistled but 'serene' on return amid ongoing rape case
- Kovacic stars as Man City sink Fulham to get title bid back on track
- Retegui hat-trick fires five-star Atalanta to hammering of Genoa
- Heavyweights Australia, England off to World Cup winning starts
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- Spinners come to party as England defeat Bangladesh at T20 World Cup
- Search continues for missing in deadly Bosnia floods
- Man City sink Fulham to get title bid back on track
- France's Auradou whistled on Pau return in Perpignan loss amid ongoing rape case
- A 'forgotten' valley in storm-hit North Carolina, desperate for help
- Arsenal hit back in style after Southampton scare
- Thousands march for Palestinians ahead of Oct 7 anniversary
- Hezbollah heir apparent Safieddine out of contact after strikes
- Liverpool stay top of Premier League as Arsenal, Man City win
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- DR Congo launches mpox vaccination drive, hoping to curb outbreak
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.
P.Costa--AMWN