February 8, 2013
A Quick Look on Nissan’s Q3 results: CVP Joji Tagawa
Global Media Center: You have just announced Nissan’s 3Q financial results. What are some of the highlights of today’s announcement?
This time we have some significant economic and political challenges, but I think we have positive results, both from an operational and financial standpoint. In fact, if I look at the calendar year total, we have achieved more than 4.9 million (units) of retail sale. This is a historical high for Nissan.
But we have a couple of challenges: the China situation, the European situation is slowing down. We are facing some tough times in selling new vehicles in the United States. But given that environment, having more than 350 billion yen operating profit, with 5.2% profit margin and 6.2% global market share, overall not bad. But if you remember Nissan Power 88, our objective is much higher, so we should be able to achieve a better result.
Global Media Center: Given the recent weakening of the yen and the situations in China and Europe, what can we expect for Nissan for the rest of the year?
For the 4th quarter and going forward, I think our U.S. operations are in full ramp-up for the new model production. And we have already achieved significantly better results to improve the Japanese home market. So, we have a good sign of recovery.
And the Japanese yen, I wouldn’t say it’s depreciating, but correcting from the abnormal appreciation is helping to achieve better results.
Global Media Center: There seems to be a feeling in Japan since the election that the economy has turned a corner. Is Japan on an upward path?
Absolutely, particularly in manufacturing and the auto industry. We have faced the so-called “six big hurdles”, and at this moment, one of those – the currency issue – is beginning to be resolved, which is a good sign. However, the potential strength of the Japanese manufacturing industry and the total competitive strength should be much better, so it’s good to start from some sign of recovery. But I think better results should be coming in the foreseeable future.