The act of regaining something lost, such as status or losses; recovery or restitution. Used as a noun or with the verb 'suru'.
初戦で敗れたが、翌試合で名誉を挽回した。
They lost the first match but regained their honor in the next game.
売上が落ちたが、新製品の投入で挽回を図っている。
Sales fell, but they are trying to recover by launching a new product.
ミスを取り戻すために必死に挽回の手を打った。
They took desperate measures to make up for the mistake.