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MarketScreener Homepage  >  Equities  >  Tokyo  >  Nissan Motor Co., Ltd.    7201   JP3672400003

NISSAN MOTOR CO., LTD.

(7201)
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Mitsubishi Motors slashes full-year profit forecast on slowing car sales

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11/06/2019 | 03:27am EST
A Mitsubishi signage is pictured next to a Mitsubishi electric car at the Tokyo Motor Show

TOKYO (Reuters) - Mitsubishi Motors Corp on Wednesday cut its full-year profit outlook by 67% as it expects sluggish demand in North America and China will continue, while a strong yen and research and development costs will also hurt the automaker's bottom line.

Japan's sixth-largest automaker now expects operating profit to come in at 30.0 billion yen in the year to March, down from a previous forecast for 90.0 billion yen. The new outlook would be Mitsubishi's lowest profit since the year ended March 2017.

The downgrade comes after Mitsubishi, in which Nissan Motor Co holds a controlling stake, reported a 78% plunge in operating profit during the July-September quarter to 6.3 billion yen, lower than a mean forecast for 16.26 billion yen from analysts polled by Refinitiv.

It joins a growing number of Japanese automakers which are bracing for lower profitability. Earlier on Wednesday, Subaru Corp lowered its annual profit forecast due to a stronger yen and a cut in domestic output due to a major typhoon last month.

Mazda Motor Corp and Suzuki Motor Corp have also cut their respective outlooks within the past month due to slowing demand for their cars.

(Reporting by Naomi Tajitsu; editing by David Evans)

Stocks mentioned in the article
ChangeLast1st jan.
MAZDA MOTOR CORPORATION 2.11% 970 End-of-day quote.-11.74%
MITSUBISHI CORPORATION 0.46% 2935.5 End-of-day quote.-0.96%
MITSUBISHI MOTORS CORPORATION -0.20% 491 End-of-day quote.-14.16%
NISSAN MOTOR CO., LTD. 1.85% 687.6 End-of-day quote.-19.68%
RENAULT -1.45% 41.26 Real-time Quote.-23.25%
SUBARU CORPORATION 0.43% 2822.5 End-of-day quote.23.96%
SUZUKI CO.,LTD. 0.75% 808 End-of-day quote.47.71%
SUZUKI MOTOR CORPORATION 0.43% 4717 End-of-day quote.-12.11%
TOHO CO., LTD. -0.67% 4450 End-of-day quote.14.10%
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Financials (JPY)
Sales 2020 10 649 B
EBIT 2020 154 B
Net income 2020 131 B
Debt 2020 6 593 B
Yield 2020 3,07%
P/E ratio 2020 19,7x
P/E ratio 2021 9,70x
EV / Sales2020 0,87x
EV / Sales2021 0,85x
Capitalization 2 659 B
Technical analysis trends NISSAN MOTOR CO., LTD.
Short TermMid-TermLong Term
TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 23
Average target price 738,95  JPY
Last Close Price 679,60  JPY
Spread / Highest target 118%
Spread / Average Target 8,73%
Spread / Lowest Target -16,1%
EPS Revisions
Managers
NameTitle
Makoto Uchida President & Chief Executive Officer
Yasushi Kimura Chairman
Ashwani Gupta Chief Operating & Production Officer
Stephen Ma Chief Financial Officer & Executive Officer
Anthony Thomas Chief Information Officer
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