Nissan Motor Q1 Net Income Declines; Lowers 2024 Profit Forecast
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Nissan Motor Co. reported a decline in Q1 net income and lowered its profit forecast for 2024. The company's net income was 28.6 billion yen, down from 105.5 billion yen in the previous year, and operating profit declined to 1.0 billion yen from 128.6 billion yen. The decrease in profit was attributed to increased sales incentives and marketing expenses to meet sales competition. Nissan now expects net revenue of 14 trillion yen, operating profit of 500.0 billion yen, and net income of 300.0 billion yen for fiscal 2024.
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