India, April 19 -- Nissan Motor Co. said full-year operating profit came in at Euro530 billion - 15% lower than it forecast as recently as February as sales fell short of expectations.

Sales were 3.44 million units, less than the 3.55 million forecast given Feb. 8, the automaker said Friday. That compares with around 5 million as little as five years ago, with an aging lineup, lack of hybrid options in North America and intensifying competition in China contributing to the decline.

An earthquake in Japan earlier this year and other logistics issues also affected sales, according to the company. Net income in the 12 months ended March 31 was Euro370 billion, compared with February's forecast of Euro390 billion.

"The US has a big impact ...