Nissan Motor Co. announces i financial results for the semester ending on September 30, 2023 and revises its revenue and earnings forecasts upwards for the full 2023 fiscal year.
Fiscal Year 2023 First Half Results by Nissan
Revenue increases by 1.40 trillion yen and reaches 6.06 trillion yen, with operating profit of 336.7 billion yen, up 180.1 billion yen. The operating margin was 5.6%, while the net profit stood at 296.2 billion yen.
Although sales volume in China declined due to intensifying competition and the acceleration of the shift to electrified mobility led by local brands, sales in other regions increased significantly compared to the previous year. The increase in revenues and operating profit was primarily driven by improved operational performance and increased sales compared to the previous year.
Second quarter fiscal 2023 results by Nissan
In the second quarter of fiscal 2023, revenues amounted to 3,145.7 trillion yen, operating profit was 208.1 billion yenwith an operating margin of 6.6%.
Forecast for fiscal year 2023, ending March 31, 2024
Nissanamong financial results, revises its full-year fiscal 2023 forecast upwards, based on further improvements in global sales (excluding China) and exchange rate benefits in the first half of 2023.
The company therefore expects an increase in revenues of 400 billion yenn, operating profit of 620 billion yen – up 70 billion yen from the previous year – and net profit of 390 billion, up 50 billion yen from fiscal 2022.
The company presented to the Tokyo Stock Exchange the following forecasts for the fiscal year 2023, which ends on March 31, 2024. The forecasts are calculated according to the equity method which does not include the group’s Chinese joint venture.