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Ghosn forecasts record Nissan profit for FY 2001.

TOKYO, Feb. 19 Kyodo

Nissan Motor Co. is likely to post a record consolidated net profit in fiscal 2001 through March due to the smooth implementation of its rehabilitation plan, President Carlos Ghosn said Tuesday.

Though Nissan earlier forecast a group net profit of 330 billion yen for fiscal 2001, or 1 billion yen short of the current record set the previous year, Ghosn said the automaker expects to beat the forecast in light of its rapid earnings recovery.

The Brazilian-born Ghosn unveiled the bullish outlook in a speech at a ceremony in Tokyo to receive the Asia Businessman of the Year award for 2002 from Fortune magazine of the United States. He won the award for his leadership in reviving the troubled automaker.

Nissan has achieved rehabilitation targets under its three-year revival plan, but Ghosn said his company's reconstruction drive has just gotten under way and will show more noticeable results in 2004, the last year of the plan.
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Publication:Japan Transportation Scan
Date:Feb 25, 2002
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