FILE - A pistillate walks the Nissan automaker's showroom successful Tokyo Tuesday, May 11, 2021. Nissan reported Tuesday, Nov. 9, 2021, a 54.1 cardinal yen ($479 million) nett for the July-September quarter, a reversal from the 44 cardinal yen nonaccomplishment racked up past year, contempt the continuing harm from the machine spot sshortage slamming the car industry. (AP Photo/Eugene Hoshiko, File) (Eugene Hoshiko,Copyright 2021 The Associated Press. All rights reserved)

TOKYO – Nissan reported a nett for the July-September quarter, managing to reverse earlier losses contempt challenges that see shortages of machine chips and rising costs for materials.

The 54.1 cardinal yen ($479 million) nett for the past 4th compared with a 44 cardinal yen nonaccomplishment racked up successful the aforesaid play of 2020.

Quarterly income edged up 1% to 1.94 trillion yen ($17 billion), arsenic Nissan Motor Co. conveyance income roseate successful Japan and the remainder of Asia, portion declining successful North America and Europe.

Chief Operating Officer Ashwani Gupta began his presumption by apologizing to customers for disruptions to deliveries of products due to the fact that of the chips crunch, which has affected each the large automakers including Toyota Motor Corp.

“Our customers are waiting,” said Gupta, adding that Nissan hoped to boost its marketplace share. “The much we tin produce, the much we tin sell.”

Gupta said Nissan’s show was amended than expected.

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The institution raised its nett forecast for the fiscal twelvemonth ending successful March to 180 cardinal yen ($1.6 billion) from an earlier 60 cardinal yen ($531 million).

Gupta said the upward revision successful Nissan's nett outlook was contempt an anticipation that income for the twelvemonth volition full 3.8 cardinal vehicles, down from an earlier estimation of 4.4 cardinal vehicles.

The Japanese shaper of the Leaf electrical vehicle, Z sportscar and Infiniti luxury models has been battling a tarnished marque representation aft the apprehension 3 years agone of its then-Chairman Carlos Ghosn connected charges of under-reporting his aboriginal compensation.

Ghosn fled Japan for Lebanon portion retired connected bail. He and different enforcement arrested and tried for his alleged involvement, American Greg Kelly, accidental they are innocent. A verdict connected Kelly's lawsuit is expected adjacent year.

Nissan, based successful the larboard metropolis of Yokohama, sank into a nonaccomplishment of 448 cardinal yen for the fiscal twelvemonth that ended successful March 2021, its 2nd consecutive twelvemonth of reddish ink.

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Nissan's main executive, Makoto Uchida, said Nissan was headed toward a recovery.

“Our beardown results are the result of diligent fiscal management, improved prime of income and a continuing merchandise offensive. This has helped america withstand respective headwinds,” Uchida said.

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Yuri Kageyama is connected Twitter https://twitter.com/yurikageyama

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