Nissan expects 15 pct drop in profit for this year

By the Associated Press | June 23, 2011 | 2:21 AM EDT

YOKOHAMA, Japan (AP) — Nissan is forecasting a 15.4 percent drop in profit for the fiscal year through March 2012 because of production disruptions from the March quake and an unfavorable exchange rate.

But the Japanese automaker is expecting to sell more cars around the world, despite the disaster in northeastern Japan that battered production by causing severe parts shortages earlier this year.

Nissan Motor Co. said Thursday that its profit will drop to 270 billion yen ($3.4 billion) for the fiscal year through March 2012 from 319 billion yen the previous fiscal year.