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Nissan lifts annual net profit forecast thanks to strong demand

Japanese automaker says it is cautiously optimistic despite global chip shortages

Nissan’s production in the April to September period rose 3% year-on-year, helped by stronger global demand for cars. (Photo by Nobuki Tanaka)

TOKYO -- Robust global auto demand has prompted Nissan Motor to lift its annual net profit forecast through March 2022 for the second time this fiscal year, as the Japanese automaker moves away from offering big discounts to capture market share.

Nissan said Tuesday it now expects an annual net profit of 180 billion yen ($1.59 billion). The latest forecast follows its announcement in July that it would avoid a third consecutive year of losses. It forecast then a full-year net profit of 60 billion yen, reversing from an expectation for a net loss of 60 billion yen.

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