Nissan Motor reported its fifth consecutive quarterly net loss on Thursday, with U.S. tariffs significantly impacting its financial performance.
The Japanese automaker recorded a net loss of 106.2 billion yen ($689.1 million) for the quarter ended September, a substantial increase from the 9.3 billion yen loss reported in the same period last year.
Revenue for the second quarter fell 3.8% to 2.872 trillion yen. The company stated that U.S. duties reduced its operating profit by 81.1 billion yen, compared to a 68.7 billion yen impact in the first quarter.
Nissan maintained its forecast for global sales to decrease 2.9% to 3.25 million units for the fiscal year ending March.
In a separate announcement Thursday, Nissan revealed plans to sell its Yokohama headquarters for more than $600 million. The automaker will continue to use the building under a lease agreement, with sale proceeds directed toward restructuring efforts. The company expects to record approximately 73.9 billion yen in special gains from the transaction this fiscal year.
Last week, Nissan projected that annual revenue would drop 7.4% to 11.700 trillion yen and estimated an operating loss of 275.00 billion yen.
The company expects U.S. tariffs to impact full-year operating results by 275 billion yen. Additional concerns include foreign-exchange volatility and supply-chain risks, particularly a potential shortage of chips from Nexperia amid a dispute between Dutch and Chinese governments over control of the Dutch semiconductor manufacturer.
