FROM THE PEANUT GALLERY: A shareholder Nissan’s annual meeting in Yokohama asked, in light of a strong rebound at the Japanese automaker, why she was only getting a dividend of 30 yen (31 cents). Nissan’s January-March profit more than doubled to $941 million. Its global sales reached a record 4.85 million vehicles for the year, a remarkable recovery from production disruptions caused by the earthquake and tsunami in northeastern Japan and the flooding in Thailand. Nissan is expecting a 400 billion yen ($5 billion) profit for the business year through March 2013.
KEEPING UP WITH THE JONSES: CEO Carlos Ghosn said Nissan has less cash than Japanese rivals Toyota Motor Corp. and Honda Motor Co. and must be more prudent in the current economic climate. The U.S. economic recovery has slowed and Europe’s economy is stymied by high debt and austerity measures.
Recommended Stories
CURRENCY: Ghosn also bemoaned the strong yen, which erodes the value of overseas sales for Japanese exporters like Nissan. He said he was worried Nissan might have to reduce Japan production if the government didn’t do something to bring the yen’s strength under control.
