Nissan Motor Co., Ltd. today announced financial results for the 12 months to March 31, 2017.<\/p>\n
Nissan generated an operating profit of 742.2 billion yen on net revenues of 11.72 trillion yen as strong sales in the US, China and Western Europe partly offset the impact of foreign exchange and weakness in emerging markets.<\/p>\n
Fiscal Year 2016 Full-Year Financial Highlights<\/p>\n
The following table summarizes Nissan\u2019s financial results for the 12-month period to March 31, 2017, calculated under the equity accounting method for the Group\u2019s China joint venture.<\/p>\n
Fiscal Year 2016 Financial Highlights<\/p>\n
(TSE report basis \u2013 China JV equity basis)1Yen in billions FY 15 FY 16 % change year on year FY 16 at constant currency % change at constant currency<\/p>\n
Revenues 12,189.5 11,720.0 -3.9 12,975.0 +6.4<\/p>\n
Operating profit 793.3 742.2 -6.4 1,024.1 +29.1<\/p>\n
Operating margin % 6.5 6.3 -0.2 7.9 +1.4<\/p>\n
Ordinary profit 862.3 864.7 +0.3 N\/A N\/A<\/p>\n
Net income2 523.8 663.5 +26.7 N\/A N\/A<\/p>\n
Based on average foreign exchange rates of JPY 108.3\/USD and JPY 118.7\/EUR<\/p>\n
On a management pro forma basis, which includes the proportionate consolidation of results from Nissan\u2019s joint venture operation in China, operating profit was 882.4 billion yen on net revenues of 12.84 trillion yen.<\/p>\n
Sales performance<\/p>\n
For the fiscal year, Nissan\u2019s global unit sales were 5.63 million units.<\/p>\n
In the U.S., Nissan\u2019s sales rose by 4.2% to 1.58 million units, equivalent to a market share of 9.0%, amid solid demand for models including the Rogue and Altima.<\/p>\n
Nissan unit sales in China, which reports figures on a calendar year basis, rose 8.4% to 1.35 million units, equivalent to market share of 5.0%. In Europe, excluding Russia, Nissan\u2019s sales rose by 7.2% to 683,000 units, which resulted in a market share of 3.8%. The Qashqai SUV and Navara pickup helped drive demand in the region.<\/p>\n
Nissan\u2019s performance in these key markets helped offset challenging conditions in the Japanese market, reflecting the suspension of Kei car sales in the first half. Sales in Japan \u2013 where Kei car sales have resumed \u2013 reached 557,000 units for the 12-month period, representing a market share of 11.0%. In other markets including Asia and Oceania, Latin America, the Middle East and Africa, Nissan\u2019s sales decreased 3.3% to 808,000 units.<\/p>\n
Outlook<\/p>\n
The company expects to sell 5.83 million units in fiscal 2017. Recently-launched models including the Nissan Micra, Armada, Kicks, and Note e-POWER and Serena in Japan, are expected to contribute to sales growth in the coming financial year.<\/p>\n
Based on Nissan\u2019s solid outlook for unit sales, the company has filed the following fiscal-year forecasts to the Tokyo Stock Exchange. Calculated under the equity accounting method for Nissan\u2019s joint venture in China, the forecasts for the fiscal year ending March 31, 2018 are:<\/p>\n
Nissan FY17 Outlook \u2013 TSE report basis \u2013 China JV equity basis1<\/p>\n
Net revenue \u00a511.8 trillion<\/p>\n
($109 billion\/\u20ac100 billion)<\/p>\n
Operating profit \u00a5685 billion<\/p>\n
($6.34 billion\/\u20ac5.81 billion)<\/p>\n
Net income2 \u00a5535 billion<\/p>\n
($4.95 billion\/\u20ac4.53 billion)<\/p>\n
Calculated on exchange rate of JPY 108\/USD and JPY 118\/EUR<\/p>\n
Nissan is also forecasting a 10.4% increase in the dividend to 53 yen per share for fiscal year 2017.<\/p>\n
Since the beginning of fiscal year 2013, Nissan has reported figures calculated under the equity method accounting for its joint venture with Dong Feng in China. Although net income reporting remains unchanged under this accounting method, the equity-accounting income statements no longer include Dong-Feng-Nissan\u2019s results in revenues and operating profit.<\/p>\n
2 Net income attributable to owners of the parent<\/p>\n
For detailed Nissan financial information and presentations:www.nissan-global.com\/EN\/IR\/FINANCIAL\/About Nissan Motor Co.Nissan is a global full-line vehicle manufacturer that sells more than 60 models under the Nissan, Infiniti and Datsun brands. In fiscal year 2016, the company sold 5.63 million vehicles globally, generating revenue of \u00a511.72 trillion. Nissan engineers, manufactures and markets the world’s best-selling all-electric vehicle in history, the Nissan LEAF. Nissan\u2019s global headquarters in Yokohama, Japan, manages operations in six regions: ASEAN & Oceania; Africa, Middle East & India; China; Europe; Latin America and North America. Nissan has a global workforce of 247,500, and has been partnered with French manufacturer Renault under the Renault-Nissan Alliance since March 1999. In 2016 Nissan acquired a 34% stake in Mitsubishi Motors, which became the third full member of the Alliance \u2013 a grouping with combined annual unit sales of almost 10 million units a year.<\/p>\n","protected":false},"excerpt":{"rendered":"
Nissan Motor Co., Ltd. today announced financial results for the 12 months to March 31, 2017. Nissan generated an operating profit of 742.2 billion yen on net revenues of 11.72 trillion yen as strong sales in the US, China and Western Europe partly offset the impact of foreign exchange and weakness in emerging markets. Fiscal […]<\/p>\n","protected":false},"author":2,"featured_media":3868,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_meta-robots-noindex":"","_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_pr_autopilot_social_copy":"","_yoast_wpseo_opengraph_title":"","_yoast_wpseo_opengraph_description":"","_yoast_wpseo_opengraph_image":"","_yoast_wpseo_opengraph_image_id":0,"_yoast_wpseo_twitter_title":"","_yoast_wpseo_twitter_description":"","_yoast_wpseo_twitter_image":"","_yoast_wpseo_twitter_image_id":0,"_yoast_wpseo_primary_category":26,"_extra_hide_author_box":"1","_extra_featured_post":"","_partner_post_id":0,"footnotes":""},"categories":[26],"tags":[],"class_list":["post-5333","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-automotive","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"\n