Japanese automaker Nissan’s profits zoom on strong sales, favorable exchange rates

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Nissan has reported that its profit zoomed more than 10-fold in the last quarter from a year before, boosted by a weak Japanese yen and strong vehicle sales around the world. The Japanese automaker, allied with Renault SA of France, reported that its profit in July-September was 190.7 billion yen, or $1.3 billion, up from 17.4 billion yen a year earlier. Quarterly sales surged 25%. The weak yen generally helps the results of Japanese exporters by raising the value of their overseas earnings when they are converted into yen. One regional market where Nissan’s sales struggled was China, where demand for electric vehicles is strong.