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Japan's Nissan cuts full-year profit forecast

Published on Nov 6, 2012 3:58 PM

TOKYO (AFP) - Nissan on Tuesday slashed its full-year profit forecast by 20 per cent as it pointed to the effect of a strong yen, weakness in the European market and slumping sales in China caused by a territorial row.

Japan's second-biggest automaker now tips net profit for the year to March of 320 billion yen (S$4.9 billion), down from its earlier estimate of 400 billion yen, as its first-half profit slipped 2.8 per cent to 178.3 billion yen.