Japan’s Nissan swings back to profit despite chips crunch

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Japanese automaker Nissan has swung back into the black for the quarter through December, despite shortages of computer chips that have hit the entire industry. Nissan which is allied with Renault of France, had a 32.7 billion yen, or $284 million profit in the fiscal third quarter, a reversal from the losses racked up a year ago. Nissan kept its global sales forecast for the fiscal year unchanged at 3.8 million vehicles. It raised its fiscal year profit forecast to 205 billion yen, or $1.8 billion. Strong demand in the U.S. market added momentum to Nissan’s results, according to the maker of the Leaf electric car and Infiniti luxury models.