Nissan Motor Co predicted a return to profit this fiscal year, scrapping an earlier loss estimate, citing government incentives that boosted demand for the company’s vehicles in China and Japan.
Japan’s third-largest carmaker expects net income of ¥35 billion (US$391 million) in the year ending March 31, compared with an earlier forecast of a ¥40 billion loss, it said in a statement yesterday in Yokohama, Japan, where Nissan is based.
Nissan follows bigger rivals Honda Motor Co and Toyota Motor Corp in improving its earnings outlook. The maker of Teana sedans may also benefit after Toyota recalled about 8 million vehicles globally, tarnishing its reputation.
Nissan benefited from tax cuts and government subsidies in China, the world’s biggest auto market, and in Japan. It boosted its full-year vehicle sales estimates to 756,000 in China from 712,000 and to 625,000 in Japan from 612,000. In North America, Nissan increased its sales forecast to 1.045 million vehicles from 1 million.
The company posted net income of ¥45 billion for the third quarter, compared with a median estimate of ¥27.2 billion by four analysts surveyed by Bloomberg. Global sales rose to ¥2 trillion from ¥1.82 trillion a year earlier, the company said.
Nvidia Corp yesterday unveiled its new high-speed interconnect technology, NVLink Fusion, with Taiwanese application-specific IC (ASIC) designers Alchip Technologies Ltd (世芯) and MediaTek Inc (聯發科) among the first to adopt the technology to help build semi-custom artificial intelligence (AI) infrastructure for hyperscalers. Nvidia has opened its technology to outside users, as hyperscalers and cloud service providers are building their own cost-effective AI chips, or accelerators, used in AI servers by leveraging ASIC firms’ designing capabilities to reduce their dependence on Nvidia. Previously, NVLink technology was only available for Nvidia’s own AI platform. “NVLink Fusion opens Nvidia’s AI platform and rich ecosystem for
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