TOKYO –
Nissan reported a revenue for the July-September quarter, managing to reverse earlier losses regardless of challenges that embody shortages of laptop chips and rising prices for supplies.
The 54.1 billion yen (US$479 million) revenue for the final quarter in contrast with a 44 billion yen loss racked up in the identical interval of 2020.
Quarterly gross sales edged up 1% to 1.94 trillion yen ($17 billion), as Nissan Motor Co. automobile gross sales rose in Japan and the remainder of Asia, whereas declining in North America and Europe.
Chief Working Officer Ashwani Gupta started his presentation by apologizing to prospects for disruptions to deliveries of merchandise due to the chips crunch, which has affected all the key automakers together with Toyota Motor Corp.
“Our prospects are ready,” mentioned Gupta, including that Nissan hoped to spice up its market share. “The extra we are able to produce, the extra we are able to promote.”
Gupta mentioned Nissan’s efficiency was higher than anticipated.
The corporate raised its revenue forecast for the fiscal yr ending in March to 180 billion yen ($1.6 billion) from an earlier 60 billion yen ($531 million).
Gupta mentioned the upward revision in Nissan’s revenue outlook was regardless of an expectation that gross sales for the yr will complete 3.8 million automobiles, down from an earlier estimate of 4.4 million automobiles.
The Japanese maker of the Leaf electrical automobile, Z sportscar and Infiniti luxurious fashions has been battling a tarnished model picture after the arrest three years in the past of its then-Chairman Carlos Ghosn on expenses of under-reporting his future compensation.
Ghosn fled Japan for Lebanon whereas out on bail. He and one other govt arrested and tried for his alleged involvement, American Greg Kelly, say they’re harmless. A verdict on Kelly’s case is predicted subsequent yr.
Nissan, based mostly within the port metropolis of Yokohama, sank right into a lack of 448 billion yen for the fiscal yr that led to March 2021, its second straight yr of purple ink.
Nissan’s chief govt, Makoto Uchida, mentioned Nissan was headed towards a restoration.
“Our sturdy outcomes are the end result of diligent monetary administration, improved high quality of gross sales and a unbroken product offensive. This has helped us face up to a number of headwinds,” Uchida mentioned.
