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Nissan Profits Fall 8% in First Half of Fiscal Year

Sales hit in North American while China grows.

by Michael Strong on Nov.08, 2018

Nissan CFO Hiroshi Karube reported the company's profits fell 8% overall due to falling sales in North America and Europe.

Nissan Motor Co. reported an 8% drop in quarterly profits due to declining sales in its biggest markets, North America and Europe, as well as hits on raw material costs.

The Japanese automaker reported quarterly profits of 130.4 billion yen, or $1.1 billion, on Thursday, down from 141.6 billion yen the same period a year earlier. The automaker noted that quarterly sales fell nearly 3% to 2.82 trillion yen, or $24.8 billion.

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However, this dip in profits wasn’t enough for Nissan to revise its forecast for the fiscal year through March for a 500 billion yen, or $4.4 billion, profit on 12 trillion yen, or $106 billion, sales. (more…)

Earnings Up, Nissan Raises Forecast

Strong North American sales, weak yen provide “positive momentum.”

by Paul A. Eisenstein on Feb.09, 2015

CEO Ghosn raises Nissan's full-year earnings forecast.

Crediting improved sales, cost-cutting and a weak yen, Nissan is reporting a 21% jump in its quarterly profits, while also increasing its earnings estimate for the full fiscal year.

The second-largest of the Japanese makers earned 101.8 billion yen for the October to December quarter, or $856 million. That was significantly better than the 83 billion yen, or 697 million consensus forecast, according to FactSet.

“Nissan delivered solid financial results in the first nine months of the fiscal year, reflecting rising U.S. sales of our latest models and a normalizing yen-dollar exchange rate,” said the maker’s President and CEO Carlos Ghosn, in a statement.

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Crediting “positive momentum” in sales, as well as a weak yen, Ghosn upped the full-year forecast for Nissan to 420 billion yen, or $3.5 billion, which would be an 8% annual increase. Nissan had originally expected to earn 405 billion yen, or $3.4 billion, for the fiscal year which ends on March 31.

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Nissan Reports Marginal Profit Increase

Maker lifted by weak yen but hurt by ongoing China problems.

by Paul A. Eisenstein on May.10, 2013

Nissan CEO Carlos Ghosn at the 2013 NY Auto Show.

Nissan kept its balance sheet in the black for the just-ended fiscal year, but despite the lift it got from the weakening yen, the maker had trouble overcoming the ongoing problems it faces in China, as well as some unexpected setbacks in the U.S. market.

The second-largest Japanese maker’s modest 0.3% increase in a net profit of ¥342.45 billion, or $3.4 billion, comes in sharp contrast to the tripling in profits reported earlier this week by arch-rival Toyota Motor Co.

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The two automakers were both hurt by problems in China stemming, but Nissan had other issues to deal with, senior officials acknowledged, the company’s CEO Carlos Ghosn telling reporters that “It’s clear that several negative factors outweighed (the) positive contributions” of such things as the weakening yen.

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Nissan Bucks Upward Trend, Profits Plunge by More Than a Third

CEO Ghosn promises a product-led turnaround.

by Paul A. Eisenstein on Feb.11, 2013

No excuses from Nissan CEO Carlos Ghosn.

CEO Carlos Ghosn didn’t try to sugar coast Nissan Motor Co.’s latest financial results, admitting the more than one-third drop in the maker’s latest quarterly earnings “did not meet our expectations.” The news comes in sharp contrast to the results at Japanese competitors including both Toyota Motor Co. and Mazda Motor Co.

Nonetheless, the chief executive – who also serves as CEO of alliance partner Renault – contends Nissan is taking “swift” action to put things back on track and should have the products to help “reignite” its momentum.

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In dollar terms, Nissan reported a $670 million profit for the three months ending on December 31st, a 34.6% decline. Revenues, meanwhile, slipped 5.3% for the quarter, to $27.23 billion.  For the first nine months of the fiscal year, the second-largest Japanese maker has earned $2.91 billion based on an exchange rate of 81.1 yen to the U.S. dollar.

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Nissan Profits Up – But Forecast Trimmed

Chinese boycott likely to be significant setback.

by Paul A. Eisenstein on Nov.06, 2012

Nissan COO Toshiyuki Shiga with the maker's Townpod concept vehicle.

Nissan Motor Co. followed its two key Japanese rivals on Tuesday by reporting an upward bump in earnings – but while also forecasting that problems in China will negatively impact its full-year forecast.

Compared to Honda and Toyota, Nissan revealed a relatively modest 8% increase in net earnings for the July – September quarter. But by comparison, Japan’s second-largest automaker also recovered much faster than its rivals from the devastating earthquake and tsunami that swept through the Northeast part of the country in March 2011.

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On the other hand, Nissan appears particularly vulnerable in China, where anti-Japanese sentiment reached the boiling point in September after the Tokyo government acquired a series of uninhabited islets in the South China Sea also claimed by Beijing. That has touched off an ongoing boycott that is likely to have an ongoing impact, Nissan warned.

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