Nissan Motor Co unveiled figures today showing it has accelerated into a second straight year of record profit.
Led by Mr Carlos Ghosn, known as "le Cost-Killer", Japan's third-largest automaker said estimated group operating profit climbed to a record 490 billion yen ($3.80 billion) in the year that ended on March 31st, up 69 per cent.
"This is the fruit of NRP [the Nissan Revival Plan], fruit that even the most optimistic of outsiders in 1999 didn't even think of," Mr Ghosn said.
The number, the result of cost-cutting and a favourably weak Japanese currency, soundly beat analysts' expectations, which ranged from 380 billion yen to 463 billion yen.
Another record was seen in the current business year, with operating profit expected to rise further to 553 billion yen.
Net profit, also a record for the second year in a row, was expected to jump to 372 billion yen from 331 billion yen. A more modest rise to 380 billion yen was expected for this year.
Although Nissan, 44.4-per cent-owned by French automaker Renault, does not officially report its earnings until May 20th, these are not expected to differ substantially from today's preliminary numbers.