YOKOHAMA: Nissan said on Wednesday its operating profit was nearly wiped out in the second quarter, as a benefit from lower US emissions-related expenses dropped out and an earthquake in southern Japan disrupted operations.
Operating profit for the July-September quarter slumped 96 per cent from a year earlier to just 2.1 billion yen (US$13.23 million), versus a median forecast of 60.1 billion in a poll of eight analysts surveyed by LSEG.
Despite the steep drop, Nissan retained its full-year operating profit forecast of 200 billion yen, citing momentum in Japan and North America, while China remains challenging.
The automaker also booked a net loss for the first half of the financial year, and faces a tough task in reversing a prolonged decline in global sales after years of scandal and management turmoil.
Chief executive officer Ivan Espinosa, who took the helm in April 2025, has cut jobs, manufacturing capacity and the number of models in Nissan’s lineup as part of a push to restore profitability.