) 4% increase in net income this past quarter ended June 30th should be viewed positively because it could have been a lot worse. Nissan was helped by a weak yen and the fact that in the same quarter last year a one-time expense hurt earnings. CEO Carlos Ghosn once again warned the first half would be a challenge and to anticipate better times from the second half. Nissan is standing by its full-year financial forecast which is a sign of confidence that also supports Ghosn's promise to deliver.
Ordinary shares of Nissan (Tokyo: 7201) gained 2.43% on a strong overall day for Japanese stocks. Its 1,180 yen close is equal to $20.26 for its ADRs when adjusting for the current exchange rate and its ADR listing ratio.
I continue to believe that Nissan could be a buy if it trades lower up to its 2H launch of new models. I don't think a no-deal with GM will have much effect on Nissan's shares. In recent trading both its ordinary shares and ADRs are trading at/near 52-week lows.
Click here to access Nissan's investor relations page in English.
Click here for earnings coverage by Yahoo-AP.
Nissan Motors (OTCPK:NSANY) 1-year chart:
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