Ad
Ad
Nissan's fiscal year 2023 saw notable improvements despite challenges, with strengthened revenue and profits. The company's resilience amid competition and inflationary pressures reflects its commitment to the Nissan Next Transformation Plan. Looking ahea
Nissan Motor Co., Ltd. today announced financial results for the full year and the fourth quarter of fiscal year 2023, ending March 31, 2024. Check out more details below.
Nissan has strengthened its business foundation by steadily implementing key initiatives under the Nissan NEXT business transformation plan. In FY2023, the final year of the plan, despite a very challenging business environment, Nissan has been continuously improving the quality of sales in each market.
Global sales remained at 3.44 million units impacted by intensified sales competition. Nissan’s consolidated net revenue was 12.686 trillion yen, resulting in an operating profit of 568.7 billion yen with an operating margin of 4.5%. This was due to logistics, other risks such as the Noto Earthquake and various cost relief made to suppliers such as inflation, and other factors.
Net income was 426.6 billion yen. Automotive net cash was 1.546 trillion yen. The increase in operating profit and net income compared to the April 19 forecast revision is due to the reversal of previously recorded litigation provisions.
Nissan plans to propose the payment of a year-end dividend of 15 yen per share for fiscal year 2023 at the general shareholders meeting.
Yen in billions | FY 2022 | FY 2023 | Variance vs FY22 |
Revenue | 10,596.7 | 12,685.7 | +2,089.0 |
Operating profit | 377.1 | 568.7 | +191.6 |
Operating margin% | 3.6% | 4.5% | +0.9 ppt |
Ordinary profit | 515.4 | 702.2 | +186.7 |
Net income1 | 221.9 | 426.6 | +204.7 |
Based on average foreign exchange rates of 145 JPY /USD and 157JPY /EUR for FY2023
On a China joint venture proportionate basis, operating profit was 570 billion yen, which equates to a 4.2% operating margin and net income1 was 426.6 billion yen.
In the fourth quarter of fiscal year 2023, consolidated net revenue was 3.514.3 trillion yen, consolidated operating profit was 90.3 billion yen, and operating profit margin was 2.6%. Net income in the fourth quarter was 101.3 billion yen.
Yen in billions | FY22 4Q | FY23 4Q | Variance vs FY22 |
Revenue | 3,097.0 | 3,514.3 | +417.3 |
Operating profit | 87.4 | 90.3 | +2.9 |
Net income1 | 106.9 | 101.3 | -5.6 |
Based on average foreign exchange rates of 149 JPY/USD and 161 JPY/EUR for FY23 Q4
Nissan expects the business to continue to face intense competition and inflationary pressure.
With the Arc business plan, Nissan will aim for steady growth toward achieving its targets with attractive and competitive products.
The company has filed the following fiscal year forecasts with 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, 2025, are:
FY2024 outlook TSE report basis – China JV equity basis2 (yen in billions) | |
Net revenue | 13,600.0 |
Operating profit | 600.0 |
Net income1 | 380.0 |
FY2023 | 20 yen |
FY2024 (Outlook) | 25 yen or more |
The financial forecast is based on judgements and estimates that have been made using currently available information. By nature, such financial forecasts are subject to uncertainty and risk. Therefore, the final results may differ from the aforementioned forecast.
Skoda Slavia and Kushaq: 1.5L EVO TSI Now Automatic-Only
Skoda removes manual gearbox option for 1.5L EVO TSI engine in Slavia and Kushaq models, potentially affecting enthusiast buyers and market dynamics in the Indian automotive sector.
06-Sep-2024 01:26 PM
Read Full NewsSkoda Slavia and Kushaq: 1.5L EVO TSI Now Automatic-Only
Skoda removes manual gearbox option for 1.5L EVO TSI engine in Slavia and Kushaq models, potentially affecting enthusiast buyers and market dynamics in the Indian automotive sector.
06-Sep-2024 01:26 PM
Read Full NewsDelhi EV Policy Expiration Leads to Higher Prices and Declining Sales
With the expiration of the Delhi EV Policy, electric vehicle prices rise, and sales dip. Dealers urge the state government to extend the road tax waiver.
06-Sep-2024 01:01 PM
Read Full NewsDelhi EV Policy Expiration Leads to Higher Prices and Declining Sales
With the expiration of the Delhi EV Policy, electric vehicle prices rise, and sales dip. Dealers urge the state government to extend the road tax waiver.
06-Sep-2024 01:01 PM
Read Full NewsHyundai Exter S(O)+ and S+ Trims: Sunroof Now Up to Rs. 46000 More Affordable
Hyundai Exter S(O)+ and S+ trims now offer a sunroof at up to Rs. 46,000 less. Both trims include a digital cluster, touchscreen, and key safety features.
06-Sep-2024 12:01 PM
Read Full NewsHyundai Exter S(O)+ and S+ Trims: Sunroof Now Up to Rs. 46000 More Affordable
Hyundai Exter S(O)+ and S+ trims now offer a sunroof at up to Rs. 46,000 less. Both trims include a digital cluster, touchscreen, and key safety features.
06-Sep-2024 12:01 PM
Read Full NewsNew Kia Carnival to Enter Premium Segment with October 3 Launch
Kia India is set to launch the new Carnival MPV on October 3. Imported as a CBU, it will feature premium amenities and is anticipated to be priced above Rs. 50 lakh.
06-Sep-2024 11:57 AM
Read Full NewsNew Kia Carnival to Enter Premium Segment with October 3 Launch
Kia India is set to launch the new Carnival MPV on October 3. Imported as a CBU, it will feature premium amenities and is anticipated to be priced above Rs. 50 lakh.
06-Sep-2024 11:57 AM
Read Full NewsADAS for 4 Wheeler and Ather introduces ARAS for 2 Wheelers
Discover Ather's ARAS for two-wheelers, an advanced riding assistance system designed to enhance safety and elevate your riding experience
06-Sep-2024 11:53 AM
Read Full NewsADAS for 4 Wheeler and Ather introduces ARAS for 2 Wheelers
Discover Ather's ARAS for two-wheelers, an advanced riding assistance system designed to enhance safety and elevate your riding experience
06-Sep-2024 11:53 AM
Read Full NewsFreedom 125 Surges Past 5,000 Sales: Bajaj Boosts Production
Bajaj freedom 125 has sold over 5,000 units, driving the company to ramp up production to 30,000-40,000 units by early 2025 due to high demand.
06-Sep-2024 10:15 AM
Read Full NewsFreedom 125 Surges Past 5,000 Sales: Bajaj Boosts Production
Bajaj freedom 125 has sold over 5,000 units, driving the company to ramp up production to 30,000-40,000 units by early 2025 due to high demand.
06-Sep-2024 10:15 AM
Read Full NewsAd
Ad
Mercedes-Benz Maybach EQS SUV
₹ 2.25 Cr
Tata Curvv
₹ 9.99 - 19.00 Lakh
Maserati GranTurismo
₹ 2.72 - 2.90 Cr
Aston Martin Vantage
₹ 3.99 Cr
Audi Q8
₹ 1.17 Cr
Hyundai Alcazar facelift
₹ 17.00 - 22.00 Lakh
MG Windsor EV
₹ 25.00 - 30.00 Lakh
Mahindra XUV300 Electric
₹ 15.00 Lakh
Mercedes-Benz EQS 2024
₹ 2.00 Cr
Hyundai Ioniq 5 N
₹ 45.95 Lakh
Ad
Ad
Ad