Japan’s Nissan reports better profit as chip crunch eases

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Nissan has reported a 55% jump in its October-December profit, as the Japanese automaker gears up for a less bumpy journey with its French alliance partner Renault. Profit for the quarter at Yokohama-based Nissan totaled 50.6 billion yen, or $386 million. Its quarterly sales surged 29%, as a shortage of computer chips that has bedeviled the world’s automakers gradually eased. The crunch was caused by pandemic-related disruptions that also hindered Nissan’s ability to deliver its vehicles to customers. Nissan, Renault and smaller Japanese carmaker Mitsubishi Motors, recently agreed to equalize the stake each automaker holds in the other to 15% to better balance the alliance.