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Japan's Nissan Q2 operating profit slides 19 pct due to strong yen
November 7, 2016 / 7:57 AM / a year ago

Japan's Nissan Q2 operating profit slides 19 pct due to strong yen

TOKYO, Nov 7 (Reuters) - Nissan Motor Co Ltd on Monday reported a 19 percent slide in operating profit during the second quarter, as a strong yen offset rising sales in China, Mexico and the United States, although its performance was slightly stronger than expected.

Operating profit came in at 163.9 billion yen ($1.57 billion) for July-September, compared with 201.3 billion a year earlier. That was higher than the 154.5 billion yen average of 10 estimates from analysts surveyed by Thomson Reuters I/B/E/S/.

Japan’s second-biggest automaker by vehicle sales reported a 14.0 percent fall in operating profit in the April-September period to 339.7 billion yen.

Nissan maintained its forecast for full-year operating profit to slide 10.5 percent to 710.0 billion yen, and its full-year assumption for the yen to average 105 yen to the U.S. dollar and 120 yen to the euro. ($1 = 104.4400 yen) (Reporting by Naomi Tajitsu; Editing by Christopher Cushing)

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