Nissan Motor Company has officially announced first-half of the year ended September 30 operating profit of 139.1 billion yen and net income of 168.6 billion yen, full-year forecast revised upward for 2021 fiscal year.
For the first-half fiscal year, consolidated net revenue was 3.95 trillion yen, consolidated operating profit was 130.1 billion yen and operating profit margin was 3.5. Net profit was 168.6 billion yen.
Supported by favorable market conditions, with improved quality of its sales and financial discipline, Nissan continues solid implementation of the Nissan NEXT transformation plan. Although, sales volume was lower than expected, mainly due to the impact of the semiconductor supply shortage, selling expenses and fixed costs decreased and the quality of sales in each market continued to improve, resulting in higher profit per unit.
On a management pro forma basis, which includes the proportionate consolidation of results from Nissan’s joint venture operation in China, operating profit was 199.7 billion yen, equivalent to an operating margin of 4.3. Net profit1 was 168.6 billion yen.
Second-quarter fiscal year, consolidated net revenue was 1.94 trillion yen, consolidated operating profit was 63.4 billion yen, and operating profit margin was 3.3%. The net profit was 54.1 billion yen. Nissan achieved stronger than planned results despite a severe business environment
Nissan expects sales volume to decrease by 13.6% over the previous forecast to 3.8 million units. Despite the continuing semiconductor supply shortage and the negative impact of rising raw material prices, Nissan has revised upward its full-year outlook as it continues its new car offensive and further improves the quality of sales.
For the full fiscal year, Nissan is forecasting net revenue of 8.8 trillion yen. The company foresees an operating profit of 180 billion yen, which is 30 billion yen above the previous outlook. Net profit1 of 180 billion yen is expected, which is 120 billion yen above the previous outlook.
Announcing the financial result, Nissan Chief Executive Officer, Makoto Uchida said, ‘’ our strong results are the outcome of diligent financial management, improved quality of sales and continuing product offensive. This has helped us withstand several headwinds.’’
According to him, ‘’ as we revised our fiscal year 2021 outlook, we are confident to exceed 2% operating margin3 for the year, which is one of the milestones of the Nissan NEXT transformation plan. We will continue to firmly pursue Nissan NEXT globally to achieve the plan’s target of a 5% operating margin3 in the fiscal year 2023.’’
Nissan’s Regional Business Unit in Africa serves 42 Sub-Saharan markets with a 14.7% market share and 37 national sales companies across the continent. In total, the company offers a range of 24 vehicles to retail and commercial customers in the region. South Africa serves as a light commercial vehicle manufacturing hub for the region. The South Africa plant employs 2,000 employees with additional assembly plants located in Nigeria and Ghana respectively.
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