Nissan profit falls; higher taxes cited
From Times Wire Services
Nissan reported a 27% decline in profit for its fiscal second quarter on one-time expenses and higher taxes.
From July to September, profit totaled 120.1 billion yen ($1.05 billion), down from 164 billion yen the previous year.
Sales surged 13% to 2.618 trillion yen ($22.9 billion) as sales grew in the U.S., Europe, Russia and China. Nissan sold 941,000 vehicles worldwide, up 6.6% compared with a year earlier.
Chief Executive Carlos Ghosn said that Nissan was coming out of a lull to start its next stage of growth as it expanded in emerging markets and launched models, and that better results could be expected soon.
