The group also reported a net loss of ¥28.3 billion for the third quarter, less severe than analysts had anticipated.

Nissan has faced numerous speed bumps in recent years, including the 2018 arrest of former boss Carlos Ghosn, who later fled Japan concealed in an audio equipment box.

A merger with Japanese rival Honda had been seen as a potential lifeline, but talks collapsed last year when the latter proposed making Nissan a subsidiary.

Of Japan’s major automakers, Nissan was seen by analysts as likely to be the most severely hit by US President Donald Trump’s tariffs.

Trade officials reached a deal in July that saw the US lower tariffs on Japanese goods to 15% from a threatened 25%.

Japanese cars were taxed at a higher rate of 27.5% and the reduction to 15% did not take effect until mid-September.