Wednesday November 4, 07:50 AM
Nissan Motor interim net profit down 92.9 pct
TOKYO (AFP) - Japan's Nissan Motor said Wednesday its first-half net profit plunged 92.9 percent from a year earlier due to weak sales, but it narrowed its full-year loss forecast.
Japan's number three automaker, in which France's Renault (RNO.NX - news) has a 44-percent stake, said it performed better than expected thanks to brisk growth in China and government incentives for people to buy new cars during the recession.
Nissan, which is axing 20,000 jobs to cope with the global economic crisis, logged a net profit of 9.0 billion yen (100 million dollars) for the six months to September, against a year-earlier profit of 126.3 billion yen.
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