Nissan Motor Co., LTD. today announced financial results for the 12 month period to March 31, 2018. For the first nine months of the fiscal year, the company faced significant costs associated with special items, inventory adjustments and negative pricing trends; however, a partial recovery was achieved due to solid performance in the final three month period.
For the full year, Nissan generated an operating profit of 574.8 billion yen on net revenues of 11.95 trillion yen, equivalent to an operating margin of 4.8%. Full year net income rose by 12.6% to 746.9 billion yen as non operating income and the favourable impact of US tax reforms more than compensated for the reduction in operating profit.
Full Year Financial Highlights
On a management pro forma basis, which includes the proportionate consolidation of results from Nissan's joint venture operation in China, operating profit was 742.4 billion yen and net income reached 746.9 billion yen.
In fiscal year 2017, the company launched its Nissan M.O.V.E. to 2022 mid term plan, and global unit sales rose 2.6% to record high unit sales of 5.77 million units. Sales in Japan rose by 4.8% to 584,000 units mainly from contribution of the launch of the core models of Nissan Intelligent Mobility: the NOTE e-POWER and the new Nissan Leaf.
In China, where Nissan reports figures on a calendar year basis, unit sales rose 12.2% to 1.52 million units, equivalent to a market share of 5.6% - driven by demand for models including the Nissan X-Trail and Sylphy, as well as the growth of the Venucia brand. In the US, Nissan's sales reached 1.59 million units, equivalent to a market share of 9.2%.
Nissan sales in Europe, excluding Russia, fell by 4.6% to 652,000 units, impacted by the market decline in the UK and intensified competition in the crossover segment - both of which have been areas of strength for Nissan - which resulted in a market share of 3.6%. Unit sales in Russia, however, rose 12% to 105,000 units. In other markets, including Asia and Oceania, Latin America, the Middle East and Africa, Nissan's sales rose 1.3% to 819,000 units.
Fiscal 2017 Dividend
Nissan has forecast a 10.4% increase in the dividend to 53 yen per share for fiscal year 2017.
The company expects to sell 5.925 million units in fiscal year 2018. Recently launched models including the Serena e-POWER, the new Nissan Leaf, the Datsun Cross and the Infiniti QX50 are expected to contribute to sales growth in this financial year. Sales in fiscal year 2018 are also expected to be enhanced by the launch of new models including the Altima, Sylphy Zero Emission and Terra.
For fiscal year 2018, Nissan has forecast a 7.5% increase in the dividend per share to 57 yen.
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