The Cheap Yen Party Is Over: Nissan’s Lackluster Earnings Promise Gloom For Japanese Automakers

Nissan earnings - picture courtesy Bertel Schmitt

For more than two years, the Japanese auto industry profited from a cheap domestic currency, which translated foreign sales in to fat earnings at home. The party is over. This became clear today at 16:30 local, when Nissan put the last quarter earnings on the desks of reporters assembled at the company’s 8th floor meeting room of its Yokohama, Japan, headquarters. The company’s first-quarter net profit fell 10.7% year-on-year, operating profits in the same period were down 9.2%.

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