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The Independent UK
The Independent UK
National
Yuri Kageyama

Nissan racks up red ink, but the Japanese automaker promises a return to profit later this year

Nissan Japan Ivan Espinosa Makoto Uchida

Japanese automaker Nissan sank into a 115.8 billion yen ($782 million) loss for April-June, but promised Wednesday to return to profitability later this year.

Nissan Motor Corp. did not give a full year net profit forecast. It recorded a 28.6 billion yen profit during the April-June quarter last year.

Quarterly sales for the current fiscal year slipped nearly 10% to 2.7 trillion yen ($18 billion).

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