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Reuters Summit-UPDATE 1-Nissan CEO Ghosn: to forecast 'significantly higher' sales
June 22, 2011 / 10:45 AM / 6 years ago

Reuters Summit-UPDATE 1-Nissan CEO Ghosn: to forecast 'significantly higher' sales

(For other news from Reuters Rebuilding Japan Summit, click here)

* Nissan to announce 2011/12 financial forecasts on Thursday

* CEO Ghosn says to forecast significantly higher sales vs prior year

* Ghosn says to unveil steps to accelerate growth in Brazil

(Adds detail)

By Chang-Ran Kim

TOKYO, June 22 (Reuters) - Nissan Motor Co (7201.T) will forecast “significantly higher” sales for fiscal 2011 on Thursday after restoring production more quickly than expected after the March 11 earthquake, CEO Carlos Ghosn told a Thomson Reuters Newsmaker event in Tokyo.

Ghosn also said the carmaker would unveil new steps in the coming weeks to accelerate its growth in the Brazilian market.

Japan’s No.2 automaker is scheduled to announce this year’s profit forecasts on Thursday, followed by a new mid-term growth plan on June 27.


For more on Reuters Japan Rebuilding Summit:[ID:nL3E7HH0SE]

Summit speakers [ID:nL3E7HL0CM]


“We are going to show you the numbers tomorrow,” Ghosn said at the Newsmaker, which concluded the Reuters Rebuilding Japan Summit in Tokyo. “It is significantly higher.”

“Today we are very near normal production,” Ghosn said. “We have some restrictions on production but we are approaching normal levels of production and two months ago we never would have thought we would be approaching normal levels of production.”

Nissan has said it is expecting unrestricted production to return in October, when it sees the supply of parts recovering to conditions before the March 11 earthquake. Despite the severe disruption, Ghosn surprised financial markets last month by flagging sales growth in the business year that started in April.

(For more on Reuters Japan Rebuilding Summit:[ID:nL3E7HH23H])

(Reporting by Chang-Ran Kim and Kevin Krolicki; Editing by Joseph Radford)


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