TOKYO -- Nissan Motor Co. said Friday its net profit for the April-June quarter dropped 42.8 percent, hit by a rising yen and accounting provisions for the declining value of leased vehicles, according to The Associated Press.

Japan's third-largest automaker said net profit fell to 52.8 billion yen ($505 million) for the quarter, while sales fell 4.1 percent from a year earlier to 2.3 trillion yen ($22.4 billion).