February 8, 2018 / 9:34 AM / in a year

RPT-Nissan Q3 profit drops on costs for improper inspection issue, U.S. discounts

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YOKOHAMA, Feb 8 (Reuters) - Nissan Motor Co Ltd on Thursday reported a halving in third-quarter operating profit, weighed by costs stemming from improper final inspection procedures at home, and higher discounts in the United States.

Japan’s No. 2 automaker posted an operating profit of 82.4 billion yen ($751.96 million), down from 163.51 billion a year earlier and much lower than a mean estimate of 154.03 billion yen from nine analysts polled by Thomson Reuters I/B/E/S.

Nissan lowered its forecast for full-year operating profit to slide to 565.0 billion yen from 742.23 billion last year, as it expects that costs related to the improper inspections along with inventory adjustments will weigh on its bottom line. ($1 = 109.5800 yen) (Reporting by Naomi Tajitsu Editing by Christopher Cushing)

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