Nissan’s annual profits jump 27%, boosted by better sales in China, the US and Europe.
The company had net profits of 663.5 billion yen ($5.8 billion) in the year to the end of March.
However, Nissan forecast profits would drop by about 20% this financial year, partly due to currency fluctuations.
Earlier this week rival Toyota reported a fall in annual profits for the first time in five years, and warned this year risked being tougher still.
The yen has been strengthening against the dollar and this tends to hurt Japanese auto makers as it reduces profits repatriated from overseas.
Globally, Nissan sold a total of 5.63 million cars across the year, with the biggest jump in sales being its 8.4% growth in China. Sales were up by 4.2% in the US while sales in Europe excluding Russia were up by 7.2%.
The new financial year at Nissan also marks a new era of leadership, with Carlos Ghosn stepping down as chief executive but remaining as chairman.
Hiroto Saikawa, who was Nissan’s co-chief executive, now has the top job.
Hiroto Saikawa joined Nissan in 1977, and since 1999 has served in a number of senior management positions, including overseeing operations in the Americas and Europe.
Top four Japanese carmakers are recalling 3.4 million cars globally over a defect in passenger airbags.
Toyota, which is recalling 1.73 million cars, said the vehicles had a defective part which “could cause the airbag inflator to rupture and deploy the airbag abnormally in a crash”.
Honda Motors is recalling 1.13 million cars, while 480,000 of Nissan’s and 45,000 Mazda cars are affected.
Top four Japanese carmakers are recalling 3.4 million cars globally over a defect in passenger airbags
The cars were sold between 2000 and 2004.
The firms said the defective part was supplied by parts maker Takata Corp.
Shares in Takata fell 9% to 1,819 yen on the Tokyo Stock Exchange on Thursday.
Ryo Sakai, a spokesperson for Toyota, said the firm had received reports of five separate incidents of the airbag inflator being ruptured.
Two of these incidents took place in Japan and three in the US, Ryo Sakai said.
However, he added that there had been no injuries as a result of the incidents.
Meanwhile, Honda, Nissan and Mazda said that there had been no incidents involving their cars.
All four carmakers have said that they will replace the defective parts for free.
“We are conducting a voluntary safety recall to address this issue and replace the front passenger bag inflator,” said a spokesperson for Nissan.
“We plan to notify the customers over the next 30 days,” he added.
