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Nissan reports first-half results for fiscal year 2020

2020/11/12

YOKOHAMA, JapanNissan Motor Co., Ltd. today announced financial results for the six-months ended Sept.

Fiscal year 2020 second-quarter financial highlights

The following table summarizes Nissan’s financial results for the three-months ended Sept. (TSE report basis – China JV equity basis)2 (TSE report basis – China JV equity basis)2 (TSE report basis – China JV equity basis)2

Fiscal year 2020 first-half financial highlights

On a management pro forma basis, which includes the proportionate consolidation of results from Nissan’s joint venture operation in China, the operating loss was 104.5 billion yen, equivalent to an operating margin of -2.9%. The net loss1 was 330.0 billion yen.

FY2020 outlook

For fiscal 2020, Nissan expect sales volume to increase by 1% over our previous forecast to 4,165,000 units. The company foresees an operating loss of 340 billion yen, which is 130 billion yen better than the previous outlook reflecting the results of the first six months. A net loss1 of 615 billion yen is expected, which is 55 billion yen better than the previous outlook.

Nissan’s plan to launch 12 new models is also on track, including last month’s launch of the new Nissan Rogue and the premiere of a new compact car in Japan within this year.

“Going forward, we will continue to strengthen our efforts to rationalize the business, while enhancing our product capabilities and refreshing our product lineup to provide unique value to our customers. While continuing to operate in an uncertain environment in the second half of the fiscal year, we will maintain the momentum from the second quarter with further financial discipline and improvement in our quality of sales. As an important milestone under Nissan NEXT, we will firmly pursue our aim towards achieving 2% operating margin in fiscal year 20213,” said Nissan CEO Makoto Uchida.

Original article

Nov 13, 2020 at 02:20

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Video provided by Nissan.

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Live: FY20 first half financial results announcement

PUBLISHED

Nov 12, 2020 by Nissan

DESCRIPTION

Press conference announcing Nissan Motor's FY20 first half financial results.

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