Nissan boss wary despite quick recovery

recovery from a year of disasters, as the global economic outlook is highly uncertain, China Post reveals.

Ghosn told the company's annual shareholders' meeting that Nissan Motor had bounced back from the earthquake and tsunami in northeastern Japan and the flooding in Thailand that battered Japanese automakers last year.

Nissan, like other Japanese automakers, is also looking to grow in emerging markets such as Indonesia, India and Russia.

Nissan's January to March profit more than doubled to yen75.3 billion ($941 million), The Associated Press notes.

Its global sales reached a record 4.85 million vehicles for the business year ended March in a remarkable recovery from production disruptions stemming from the disasters.

Nissan is expecting a yen400 billion ($5 billion) profit for the business year through March 2013.

Ghosn said Nissan has less cash than Japanese rivals Toyota Motor and Honda Motor and must be more prudent in the current economic situation, Bloomberg Businessweek reports.

The US economic recovery has stalled and Europe's economy is stymied by high debt and austerity measures.

“We are facing extreme volatility,” he told nearly 1 200 shareholders packing a convention centre in the port city of Yokohama, where Nissan is headquartered.