Nissan Motor Co. reported Friday a 27 percent decline in profit for the July-September quarter on one-time expenses and higher taxes that eroded overall sales growth and improved earnings in core auto operations.
Profit at Nissan for the three months through September totaled 120.1 billion yen ($1.05 billion), down from 164 billion yen the previous year.
Quarterly sales at Japan's No. 3 automaker surged 13 percent on year to 2.618 trillion yen ($22.9 billion), as sales grew in the U.S., Europe, Russia and China.
Nissan chief executive Carlos Ghosn has repeatedly predicted that the company is coming out of a lull to start its next stage of growth as it expands in emerging markets and launches models.
“Little by little, Nissan is taking off in terms of volume,” Ghosn, who also heads Renault, said earlier this week at the Tokyo Motor Show. “It's one year of consolidation, and then you resume growth in terms of volume and profits.”
