Nissan today said its fiscal-year net profit soared 17.6% to $4.2 billion, crediting a weak yen and new model roll-outs for buoyant results that drove past its own earlier forecasts. 

Japan's second biggest car maker reported a 457.6 billion yen profit in the year to March on sales of 11.38 trillion yen, up 8.5%. 

It had been expecting earnings of 420 billion yen.

The company projected an even stronger 485 billion yen profit this business year. 

Nissan and Toyota separately announced today a huge recall tied to an exploding air bag crisis, with Nissan calling back 1.56 million vehicles while its rival recalled five million vehicles globally.