NISSAN PROFIT DROPS ON YEN, MITSUBISHI SCANDAL

Nissan Motor Co. posted an 11- per- cent drop in quarterly profit after a stronger yen eroded overseas earnings, while a slump in domestic sales pushed minicar partner Mit

subishi Motors Corp. into a loss after its mileage scandal. Net income in the quarter through June fell to 136.4 billion yen (US$1.3 billion), in line with analysts’ estimates, the Yokohama, Japan- based automaker said on Wednesday. Mitsubishi reported a loss of 129.7 billion yen after a fuel- economy ratings scandal prompted the carmaker to seek a rescue from Nissan. The first of Japan’s major automakers to report earnings, Nissan’s profit hit from a strong yen may presage next week’s results at Toyota

Motor Corp. and Honda Motor Co.