Nissan's 2022 fiscal year net profit increases

Nissan Motor's net profit for fiscal 2022 increased by 3 percent from the previous year to 221.9 billion yen, approximately $1.65 billion. The manufacturer's statement announced the balance sheets for fiscal 2022 ending in March and its expectations for fiscal 2023. Nissan's net profit for fiscal 2022 increased by 3 percent compared to fiscal 2021 to 221.9 billion yen ($1.65 billion). The low rate of increase was driven by increases in raw material costs and the depreciation of the Japanese yen against the foreign exchange. Sales revenues increased by 25.8 percent to 10.6 trillion yen, approximately $78.7 billion, and operating profit increased by 52.5 percent to 377.1 billion yen, approximately $2.8 billion. The Yokohama-based manufacturer expects net profit to rise 42 percent to 315 billion yen, about $2.34 billion, in fiscal 2023, which ends in March 2024.