Click to enlarge.
Nissan Motor (7201T) financial results for the full year and the fourth quarter of the Japanese fiscal year ending 31 March 2024 show full year net operating profit of $2.7 billion was up +51% year over year with its automotive business posting an operating profit of ¥260 billion.
Global sales remained at 3.44 million units, which were squeezed by intensified s competition. Nissan’s consolidated net revenue was ¥ 12.686 trillion. The operating profit of ¥568.7 billion translates to 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,” Nissan said.
Net income was ¥426.6 billion – 1*. 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 provision. Nissan plans to propose the payment of a year end dividend of ¥15 per share at the general shareholders meeting.
“Through our Nissan NEXT initiatives, we have been working to strengthen our business foundation. From fiscal year 2024, we have launched a new business plan, ‘The Arc’. We aim to achieve sustainable, profitable growth while providing high value to customers. We will do this step by step with a balanced product portfolio and by implementing optimal business strategies in response to market conditions and customer needs,” said Nissan president and CEO Makoto Uchida.
-1*Based on average foreign exchange rates of 145 JPY /USD and 157JPY /EUR for FY2023
AutoInformed on
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
Nissan Motor Posts FY Net Profit of $2.7 billion
Click to enlarge.
Nissan Motor (7201T) financial results for the full year and the fourth quarter of the Japanese fiscal year ending 31 March 2024 show full year net operating profit of $2.7 billion was up +51% year over year with its automotive business posting an operating profit of ¥260 billion.
Global sales remained at 3.44 million units, which were squeezed by intensified s competition. Nissan’s consolidated net revenue was ¥ 12.686 trillion. The operating profit of ¥568.7 billion translates to 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,” Nissan said.
Net income was ¥426.6 billion – 1*. 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 provision. Nissan plans to propose the payment of a year end dividend of ¥15 per share at the general shareholders meeting.
“Through our Nissan NEXT initiatives, we have been working to strengthen our business foundation. From fiscal year 2024, we have launched a new business plan, ‘The Arc’. We aim to achieve sustainable, profitable growth while providing high value to customers. We will do this step by step with a balanced product portfolio and by implementing optimal business strategies in response to market conditions and customer needs,” said Nissan president and CEO Makoto Uchida.
-1*Based on average foreign exchange rates of 145 JPY /USD and 157JPY /EUR for FY2023
AutoInformed on
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.