Nissan reports full-year results for fiscal year 2016
Thursday, May 11, 2017 12:45:20 PM ET
Nissan Motor Co., Ltd. today announced financial results for the 12 months to March 31, 2017.
Nissan generated an operating profit of 742.2 billion yen on net revenues of 11.72 trillion yen as strong sales in the US, China and Western Europe partly offset the impact of foreign exchange and weakness in emerging markets.
Fiscal Year 2016 Full-Year Financial Highlights
The following table summarizes Nissans financial results for the 12-month period to March 31, 2017, calculated under the equity accounting method for the Groups China joint venture.
Fiscal Year 2016 Financial Highlights
(TSE report basis - China JV equity basis)1Yen in billions
% change year on year
FY 16 at constant currency
% change at constant currency
Operating margin %
Based on average foreign exchange rates of JPY 108.3/USD and JPY 118.7/EUR
On a management pro forma basis, which includes the proportionate consolidation of results from Nissans joint venture operation in China, operating profit was 882.4 billion yen on net revenues of 12.84 trillion yen.
For the fiscal year, Nissans global unit sales were 5.63 million units.
In the U.S., Nissans sales rose by 4.2% to 1.58 million units, equivalent to a market share of 9.0%, amid solid demand for models including the Rogue and Altima.
Nissan unit sales in China, which reports figures on a calendar year basis, rose 8.4% to 1.35 million units, equivalent to market share of 5.0%. In Europe, excluding Russia, Nissans sales rose by 7.2% to 683,000 units, which resulted in a market share of 3.8%. The Qashqai SUV and Navara pickup helped drive demand in the region.
Nissans performance in these key markets helped offset challenging conditions in the Japanese market, reflecting the suspension of Kei car sales in the first half. Sales in Japan - where Kei car sales have resumed - reached 557,000 units for the 12-month period, representing a market share of 11.0%. In other markets including Asia and Oceania, Latin America, the Middle East and Africa, Nissans sales decreased 3.3% to 808,000 units.
The company expects to sell 5.83 million units in fiscal 2017. Recently-launched models including the Nissan Micra, Armada, Kicks, and Note e-POWER and Serena in Japan, are expected to contribute to sales growth in the coming financial year.
Based on Nissans solid outlook for unit sales, the company has filed the following fiscal-year forecasts to the Tokyo Stock Exchange. Calculated under the equity accounting method for Nissans joint venture in China, the forecasts for the fiscal year ending March 31, 2018 are:Nissan FY17 Outlook - TSE report basis - China JV equity basis1
JPY 11.8 trillion
($109 billion/EUR 100 billion)
JPY 685 billion
($6.34 billion/EUR 5.81 billion)
JPY 535 billion
($4.95 billion/EUR 4.53 billion)
Calculated on exchange rate of JPY 108/USD and JPY 118/EUR
Nissan is also forecasting a 10.4% increase in the dividend to 53 yen per share for fiscal year 2017.
1 Since the beginning of fiscal year 2013, Nissan has reported figures calculated under the equity method accounting for its joint venture with Dong Feng in China. Although net income reporting remains unchanged under this accounting method, the equity-accounting income statements no longer include Dong-Feng-Nissans results in revenues and operating profit.
2 Net income attributable to owners of the parent
For detailed Nissan financial information and presentations:
About Nissan Motor Co.
Nissan is a global full-line vehicle manufacturer that sells more than 60 models under the Nissan, Infiniti and Datsun brands. In fiscal year 2016, the company sold 5.63 million vehicles globally, generating revenue of JPY 11.72 trillion. Nissan engineers, manufactures and markets the worlds best-selling all-electric vehicle in history, the Nissan LEAF. Nissans global headquarters in Yokohama, Japan, manages operations in six regions: ASEAN & Oceania; Africa, Middle East & India; China; Europe; Latin America and North America. Nissan has a global workforce of 247,500, and has been partnered with French manufacturer Renault under the Renault-Nissan Alliance since March 1999. In 2016 Nissan acquired a 34% stake in Mitsubishi Motors, which became the third full member of the Alliance - a grouping with combined annual unit sales of almost 10 million units a year.
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