Nissan Motor Co., Ltd. today announced financial results for the six-month period ending September 30, 2019.
In the first half of the fiscal year, consolidated net revenue was 5.00 trillion yen, consolidated operating profit was 31.6 billion yen, with an operating profit margin of 0.6%. First half net income1 decreased by 73.5% to 65.4 billion yen.
In the second quarter of the fiscal year, consolidated net revenue was 2.63 trillion yen, consolidated operating profit was 30.0 billion yen, with an operating profit margin of 1.1%. Second quarter net income1 decreased by 54.8% to 59.0 billion yen. Major factors in the decrease were external, such as exchange rate fluctuations, regulatory compliance expenses, and increased raw material costs, combined with increased quality-related costs.
Although decreased vehicle sales volume had a large effect on first-quarter profitability, in the second quarter the decline was offset by decreases in selling expenses, thereby resulting in a positive contribution to profit.
One pillar of Nissan’s business transformation plan is the recovery of U.S. operations, where benefits are starting to be seen from efforts to improve quality of sales. For the second quarter, operating profit for North America3 was close to the previous year’s level.
Fiscal Year 2019 Second Quarter Financial Highlights
The following table summarizes Nissan’s financial results for the three-month period to September 30, 2019, calculated under the equity accounting method for the group’s China joint venture.
Please click here to view the full press release.
SOURCE: Nissan
