Nissan returns to black in April-Sept. with 168.65 bil. yen net profit

© Kyodo News

Nissan Motor Co. on Tuesday reported 168.65 billion yen ($1.5 billion) in net profit, swinging into the black for the first time in two years on a first-half basis, despite fewer vehicle sales amid a global chip shortage.

The figure is a reversal from a massive 329.96 billion yen net loss a year earlier. Nissan's operating profit came to 139.13 billion yen, which compares with a 158.76 billion yen loss.

Sales grew 27.6 percent to 3.95 trillion yen, Nissan said.

The Japanese automaker lifted its net profit outlook for the current business year to March to 180 billion yen from its earlier projection of 60 billion yen.

Operating profit is forecast at 180 billion yen, rather than the 150 billion yen projected earlier as sales are expected to rise 11.9 percent to 8.8 trillion yen.