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Nissan Net Income of 136.4 Billion Yen for Q1

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Yokohama – July 27 – Nissan Motor today announced financial results for the three-month period to June 30, 2016, which showed operating profit at 175.8 billion yen for the period, a 6.6% margin on net revenues of 2.65 trillion yen. On a constant currency basis, operating profit was 267.0 billion yen, up 37.8%.

Globally, Nissan sold a total of 1,287,000 vehicles in the first quarter of fiscal year 2016.

“Nissan has delivered solid results in the first three months of the fiscal year despite recent currency headwinds and continued emerging-market volatility,” said Carlos Ghosn, president and chief executive officer.

“Encouraging demand for core products, particularly in North America, and our continued focus on cost efficiencies contributed to an improved underlying performance, making us well placed to deliver our full-year net income guidance. This reflects our cost-discipline, on-going product offensive and the benefits of our Alliance strategy.”

On a management pro forma basis, which includes the proportionate consolidation of results from Nissan’s joint-venture operations in China, net revenue was 2.89 trillion yen.

Operating profit was 209.0 billion yen, resulting in a 7.2% operating profit margin.

Results for three months to June 30, 2016 (TSE report basis – China JV equity basis)1 FY2016 3 months
(Apr.-Jun. 2016)
Y-O-Y
Net revenue ¥2.65 trillion
($24.6 billion/€21.8 billion)
-8.4%
(+2.9% in $ /+0.8% in €)
Operating profit ¥175.8 billion
($1.6 billion/€1.4 billion)
-9.2%
(+2.0% in $ /-0.1% in €)
Ordinary profit ¥198.2 billion
($1.8 billion/€1.6 billion)
-8.2%
(+3.2% in $ /+1.1% in €)
Net income2 ¥136.4 billion
($1.3 billion/€1.1 billion)
-10.7%
(+0.3% in $ /-1.7% in €)
Based on average foreign exchange rates of JPY 108.0/USD and JPY 121.9/EUR

 

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