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Nissan profits take a dive

Nissan expects to wrack up only a measly 4.6 million unit sales this year, with the expected annual net profit falling 15 percent after production disruption following the March earthquake and tsunami.

However, those figures do represent a 9.9 percent rise in global sales, and production is expected to be back to normal levels by October.

Carlos Ghosn, the Nissan president and chief executive, said in a statement. 'The unrelenting work ethic of Nissan employees is an inspiration - particularly after one of the worst natural disasters in modern history.'

The March 11 earthquake and tsunami obliterated whole towns, leaving its wake 23,000 dead or missing with electricity-generating facilities badly hit, including a nuclear power plant, causing a nuclear emergency that has yet to pass.

And Nissan's profit fell from 537 to 460 billion yen.

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