Chip shortage, raw material costs to dent Nissan’s earnings
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The ongoing semiconductor chip shortage and a rise in raw material costs are likely to hurt the performance of Japan-based Nissan Motor Co. Ltd., which expects a net loss of 60 billion Japanese yen ($552.4 million) in the financial year ending March 2022, The Irish Times reported. This would be the third consecutive year of net losses for the carmaker, which expects a production drop of 500,000 vehicles between April and September due to the chip shortage.
