Nissan sees lower profit, stronger yen, more expensive materials

TOKYO --Nissan Motor on Thursday forecast net profit for the current fiscal year to fall 19.4% to 535 billion yen ($4.68 billion), citing expectations for a stronger yen and higher raw material prices. 

It said one-off gains from its sale of stakes in parts supplier Calsonic Kansei lifted net profit for fiscal 2016, which in turn led to a lower forecast for its fiscal 2017 net profit.