Nissan’s quarterly profit falls on weak Japan sales, yen

A cleaner works at the gallery of the Nissan Motor Co. global headquarters in Yokohama, near Tokyo, Monday, Nov. 7, 2016. Japanese automaker Nissan is seeing a 15 percent fall in July-September profit as strong sales in North America and China were offset by lagging demand in Japan and a weak yen. Nissan reported Monday fiscal second quarter profit totaled 146 billion yen ($1.4 billion), down from 173 billion yen the same period the previous year. (AP Photo/Koji Sasahara) A cleaner works at the gallery of the Nissan Motor Co. global headquarters in Yokohama, near Tokyo, Monday, Nov. 7, 2016. Japanese automaker Nissan is seeing a 15 percent fall in July-September profit as strong sales in North America and China were offset by lagging demand in Japan and a weak yen. Nissan reported Monday fiscal second quarter profit totaled 146 billion yen ($1.4 billion), down from 173 billion yen the same period the previous year. (AP Photo/Koji Sasahara)

By Associated Press November 7, 2016 2 min read

TOKYO (AP) – Japanese automaker Nissan Motor Co. reported Monday that its profit fell 15 percent in the July-September quarter. Strong sales in North America and China failed to make up for sluggish demand in Japan and a stronger yen.

Profit in the last quarter at Nissan, based in Yokohama, southwest of Tokyo, was 146 billion yen ($1.4 billion), down from 173 billion yen a year earlier.

Quarterly sales slipped 12 percent to 2.67 trillion yen ($26 billion).

In April-September, Nissan sold 2.6 million vehicles worldwide. Nissan is allied with Renault SA of France and its chief executive Carlos Ghosn also heads Renault.

Nissan, which makes the March subcompact, Infiniti luxury brand and the Leaf electric vehicle, kept its full fiscal year forecast, through March 2017, unchanged at 525 billion yen ($5 billion) profit. It expects to sell 5.6 million vehicles for the fiscal year, up 3 percent from the previous year.