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Nissan Motor Turns To Profit In Q1, Lifts FY21 Outlook; Stock Up

Shares of Nissan Motor Co., Ltd. (NSANF.PK,NSANY.PK) were gaining around 4 percent in Japan trading after the company reported Wednesday that its first-quarter net income attributable to owners of the parent was 114.5 billion yen, compared to last year's loss of 285.6 billion yen.

Consolidated operating profit was 75.7 billion yen, compared to loss of 153.9 billion yen a year ago. Operating profit margin was 3.8 percent, compared to negative 13.1 percent a year ago.

Consolidated net revenue was 2.01 trillion yen, higher than prior year's 1.17 trillion yen.

Further, the company has revised upward its full-year profit outlook for fiscal year 2021.

For the fiscal year, the company now expects net income of 60 billion yen, compared to previous estimate of loss of 60 billion yen. Nissan is now forecasting net revenue of 9.75 trillion yen, higher than previous estimate of 9.10 trillion yen, and an operating profit of 150.0 billion yen, compared to previously expected breakeven.

The company said the shortage of semiconductor supply is expected to have a significant impact on Nissan's sales volume in the second quarter. Nissan expects the issue will continue. However, sales volume will contribute to the operating profit supported by new vehicle launches.

In Japan, Nissan Motor shares were trading at 593.70 yen, up 3.88 percent.

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