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NISSAN REPORTS FULL-YEAR RESULTS FOR FISCAL YEAR 2018
YOKOHAMA, Japan – Nissan Motor Co., Ltd. today announced
financial results for the 12-month period ending March 31, 2019.
The company faced
an unfavorable global business climate, and incurred short-term costs due to
its initiatives to improve quality of sales in the U.S., as well as the
implementation of a warranty extension campaign covering certain vehicles.
Based on the factors outlined above Nissan generated an operating profit of
318.2 billion yen for the full year on net revenues of 11.57 trillion yen,
equivalent to an operating margin of 2.7%. Full-year net income decreased by
57.3% to 319.1 billion yen.
Full-Year Financial Highlights
|Date: 14 May 2019
||Author Type: Press Release
|Author: Nissan South Africa
|Source: Nissan South Africa
The following table
summarizes Nissan’s financial results for the 12-month period ending March 31,
2019, calculated under the equity accounting method for the group’s China joint
(TSE report basis –
China JV equity basis)
Based on average
foreign exchange rates of JPY 110.9/USD and JPY 128.4/EUR for FY2018
On a management pro
forma basis, which includes the proportionate consolidation of results from
Nissan’s joint venture operation in China, operating profit was 493.2 billion
yen and net income was 319.1 billion yen.
| Yen in billions
|| FY 2017
|| FY 2018
|| % change year on year
| Operating profit
| Operating margin %
| Ordinary profit
| Net income1
In fiscal year 2018,
global unit sales fell by 4.4% to 5.516 million units.
unfavorable business climate, sales in Japan (including minivehicles) rose by
2.1% to 596,000 units. This increase was driven by strong demand for the Note
compact car and the Serena minivan, which feature Nissan Intelligent Mobility
by offering technologies such as e-POWER and ProPILOT. The Note was the
top-selling registered vehicle in Japan in fiscal year 2018, while the Serena
led the minivan segment.
In China, where the
company’s results are calculated on a calendar-year basis, strong performances
by the new Kicks, X-Trail and Sylphy led to a 2.9% increase in Nissan’s unit
sales increased to 1.564 million units, equivalent to a market share of 5.9%.
In the U.S.,
Nissan’s unit sales fell by 9.3% to 1.444 million units, equivalent to a market
share of 8.4%.
Nissan sales in
Europe, excluding Russia, fell by 17.8% to 536,000 units, which resulted in a
market share of 3.0%. Unit sales in Russia, however, rose by 2.6% to 107,400
In other markets,
including Asia and Oceania, Latin America, the Middle East and Africa, Nissan’s
sales fell by 0.4% to 815,000 units.
Fiscal 2018 Dividend
Nissan plans to
propose a dividend of 57 yen per share for fiscal year 2018 at the company’s
Ordinary General Meeting of Shareholders.
is focusing its efforts on building an operational base that can ensure
consistent and steady profitability over the medium term. Key initiatives
include reinforcing the company’s U.S. operations and improving the efficiency
of the company’s global investments and operations, while enhancing brand value
through the launch of new models that embody Nissan Intelligent Mobility.
Fiscal year 2019
marks the start of these initiatives, and the company expects that the delivery
of substantial improvements in performance will not be immediate.
Taking the above
into account, the company has filed the following fiscal year forecasts to the
Tokyo Stock Exchange. Calculated under the equity accounting method for
Nissan’s joint venture in China, the forecasts for the fiscal year ending March
31, 2019, are:
| Nissan FY19 Outlook
| – TSE report basis – China JV equity basis
|| (Yen in billions)
| Net revenue
| Operating profit
| Net income1
Calculated based on
exchange rate of JPY 110/USD and JPY 129/EUR
Nissan has forecast
a total dividend of 40 yen per share for fiscal year 2019.