Nissan Motor Co., Ltd. today announced financial results for the April-December period of fiscal year 2019.
For the first nine months of the fiscal year, Nissan generated an operating profit of 54.3 billion yen on net revenues of 7.5073 trillion yen, equivalent to an operating margin of 0.7%. Net income1 for the period decreased by 87.6% to 39.3 billion yen.
Fiscal year 2019 April-December nine-month financial highlights
The following table summarizes Nissan’s financial results for the first nine months of the fiscal year, calculated under the equity accounting method for the group’s China joint venture.
TSE report basis – China JV equity basis2
| Yen in billions | FY18 Q3 YTD | FY19 Q3 YTD | % change year on year |
| Revenues | 8,578.4 | 7,507.3 | -12.5 |
| Operating profit | 313.7 | 54.3 | -82.7 |
| Operating margin % | 3.7 | 0.7 | -3.0 ppt |
| Ordinary profit | 471.8 | 141.4 | -70.0 |
| Net income1 | 316.7 | 39.3 | -87.6 |
Based on average foreign exchange rates of JPY 108.7/USD and JPY 121.0/EUR for the period.
On a management pro forma basis, which includes the proportionate consolidation of results from Nissan’s joint venture operation in China, operating profit was 179.3 billion yen, equivalent to an operating margin of 2.1%, and net income1 amounted to 39.3 billion yen.
Sales performance
In the first nine months of the fiscal year, global total industry volume decreased 5.0% year-on-year to 65.3 million units, while Nissan’s global unit sales decreased 8.1% to 3.70 million units.
In Japan, total industry volume decreased 1.7% year-on-year due to the impact of a consumption tax rate increase and damage caused by typhoons, and Nissan’s sales decreased 6.9% to 381,000 units. The all-new Nissan Dayz continued to sell well, and the new Skyline launched in September 2019, which features Nissan’s world-first ProPILOT 2.0 driver support technology, has also been well received.
In China, where Nissan reports figures on a calendar-year basis, total industry volume decreased 10.7%. However, Nissan’s sales were 1.09 million units, essentially on par with the same period of the previous year, and market share increased 0.6 percentage points to 6.3%. This was driven by continued strong sales of core models including the Sylphy sedan and X-Trail crossover.
In the U.S., due to an aged product portfolio and continuing efforts to normalize sales, sales decreased 9.1% to 980,000 units.
Nissan sales in Europe, including Russia, decreased by 16.2% to 395,000 units, amid ongoing challenging conditions due to changes in environmental regulations and an aged portfolio.
In other markets, including Asia and Oceania, Latin America, the Middle East and Africa, Nissan’s sales decreased 11.5% to 547,000 units.
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SOURCE: Nissan
