Nissan Fiscal 2Q 2017 Results Slightly Disappointing; Maintaining JPY 1,450 / $26 FVE
No-moat rated Nissan reported fiscal second quarter diluted earnings per share before special items (EPS) of JPY 36.20, slightly ahead of the consensus of JPY 34.99 but just a hair below the JPY 36.32 EPS reported in the same period last year. Nissan was adversely impacted by costs associated with the final inspection scandal in Japan, higher raw material cost, unfavorable currency translation, and weaker vehicle sales in the U.S.Japanese transport ministry regulation requires certified individ...
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