US sales, weak yen boost Nissan profit

Nissan's quarterly profit jumps 14 percent as US sales, cheap yen offset China sales damage

Associated Press

TOKYO (AP) -- Nissan's quarterly profit jumped 14 percent to 82 billion yen ($820 million) as better sales in the U.S. and a perk from a favorable exchange rate offset damage from a sales slump in China and Europe.

The maker of the Infiniti luxury model and Leaf electric car reported Thursday that sales for its fiscal first quarter surged 18 percent to 2.23 trillion yen ($22 billion).

Sales of Japanese auto brands in China suffered after anti-Japanese sentiment flared last year following a territorial dispute over tiny uninhabited islands.

But Japanese exporters are benefiting from a cheaper yen, which boosts the value of the overseas earnings they bring home.

Nissan expects a 420 billion yen ($4.2 billion) profit for the year through March 2014, up 23 percent from the previous year.

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