Nissan comes to black with annual profit

Japan's third largest automaker Nissan Motor announced Wednesday a return to the black, with a twelve-monthly profit of 42400000000 yen (460 million).

The company experienced a much narrower fourth quarter net loss of 11600000000 yen in the three months ended March, compare with a loss of ¥ 276.900.000.000 in the same period a year earlier throughout the global financial disaster.

Nissan forecast a 254 percent increase in profit of ¥ 150.000.000.000 for the year ending in March 2011.

"even though we are still in crisis mode, we are well on their way to complete upturn," Nissan CEO Carlos Ghosn told a press meeting.

Nissan, which is 43.4 percent owned by French automaker Renault, last month announce a partnership with Germany's Daimler AG to share capital and equity structure of technological knowledge in an effort to diminish costs.