Nissan’s quarterly profit falls amid computer chip crunch

Published November 9, 2022 2:09 AM

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Nissan’s profit declined 68% in the last quarter as a computer chips shortage hindered the Japanese automaker’s ability to deliver on orders. Nissan Motor Co. said Wednesday that its profit in the July-September quarter was 17.4 billion yen, or $119 million, down from 54 billion yen the year before. Quarterly sales jumped to 2.5 trillion yen, or $17 billion. Chief Executive Makoto Uchida said the company faces various headwinds, including shortages of semiconductors that have hit all automakers due to lockdowns and other restrictions related to the pandemic. A weak yen helped Nissan’s bottom line. But Uchida said he feels a stable currency is desirable.

Article Topic Follows: AP National Business

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