Nissan returns to profit, ups forecast despite chips crunch

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Nissan has reported a $479 million profit for the last quarter, a reversal from the loss it racked up a year earlier. The improvement came despite shortages of computer chips that are plaguing the auto industry. Chief Operating Officer Ashwani Gupta said Tuesday that Nissan’s performance was better than expected, considering various challenges including rising material costs. The Japanese automaker had reported two straight years of red ink. It raised its fiscal year profit forecast to 180 billion yen from an earlier outlook for 60 billion yen. Nissan is battling a tarnished brand image after the 2018 arrest of former Chairman Carlos Ghosn and other troubles.