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Nissan quarterly profit jumps 36% on strong sales in US, Europe

A worker on the assembly line at Nissan's factory in Resende, 160 km west of Rio de Janeiro, Brazil, on Februrary 3, 2015

Nissan on Wednesday said its net profit for the three months to June soared 36.3 percent to $1.3 billion on strong sales in North America and Europe.

Japan's number-two automaker said its quarterly net profit reached 152.8 billion yen ($1.3 billion), while operating profit jumped 58.0 percent to 193.7 billion yen.

Sales jumped 17.6 percent to 2.90 trillion yen in the period.

Robust sales in foreign markets and the benefit of a sharply weaker yen drove up the firm's performance, said Carlos Ghosn, president and chief executive officer.

"Nissan delivered solid financial results in the first three months of the fiscal year due primarily to strong demand for our core products in North America and Europe," he said in a statement.

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"Given our ongoing product offensives, the benefits of our alliance strategy (with Renault) and continued cost discipline, Nissan is on track to deliver its full-year financial guidance," he said.

The firm kept its annual forecasts for a net profit of 485.0 billion yen, operating profit of 675.0 billion yen and sales of 12.10 trillion yen.

Japanese automakers have benefited significantly from the healthy growth seen in the US market, while the weaker yen has made Japanese automakers relatively more competitive overseas and inflated the value of repatriated overseas profits.

Sales slowed in their home market, however, after a sales tax hike last year dented consumer spending.