NISSAN MOTOR CO., LTD., The Current Fiscal Year Operating Profit Revised Downward by 70%, Dividend Revised from 25 yen to Undecided

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Thu Nov 7, 2024 4:40 pm JST Earnings

7201 NISSAN MOTOR CO., LTD. 【J-GAAP】

Earnings Report

NISSAN MOTOR CO., LTD. <7201> [TSE-P] announced its financial results after the market closed on November 7th (16:40). The consolidated operating profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 90.2% from the same period last year to 32.9 billion yen.

In addition, the full-year consolidated operating profit has downwardly by 70.0%, from the previous forecast of 500 billion yen to 150 billion yen (compared to 568 billion yen in the previous period), leading to an increase in the profit decline rate from 12.1% to 73.6%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated operating profit for the October to March period (second half) is expected to drop by 49.5% from the same period last year to 117 billion yen.

At the same time, the plan for a year-end lump-sum dividend of 25 yen has been changed to undecided.

In the most recent three-month period, from July to September (2Q), the consolidated operating profit significantly dropped to 31.9 billion yen, a 84.7% decrease compared to the same period last year. The operating profit margin drastically worsened from 6.6% in the same period last year to 1.1%.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Sep, 2022	4,662,250	156,608	196,933	64,475	16.5	38.2	Nov 9, 2022	J-GAAP
Apr - Sep, 2023	6,063,346	336,743	412,681	296,210	75.6	58.8	Nov 9, 2023	J-GAAP
Apr - Sep, 2024	5,984,221	32,908	116,057	19,223	5.2	ー	Nov 7, 2024	J-GAAP
YoY	-1.3%	-90.2%	-71.9%	-93.5%	-93.1%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	ー	ー	ー	ー	－	－	May 9, 2024	J-GAAP
Apr - Sep, 2024 Results	5,984,221	32,908	116,057	19,223	5.2	0	Nov 7, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	14,000,000	500,000	ー	300,000	82.0	25	Jul 25, 2024	J-GAAP
Mar, 2025 New	12,700,000	150,000	ー	ー	－	－	Nov 7, 2024	J-GAAP
Revision Rate	-9.3%	-70.0%	－	－	－

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	6,622,370	231,975	289,480	130,439	33.8	15	May 9, 2024	J-GAAP
Oct - Mar, 2024 Guidance	6,715,779	117,092	ー	ー	－	－	Nov 7, 2024	J-GAAP
YoY	+1.4%	-49.5%	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	10,596,695	377,109	515,443	221,900	56.7	10	May 11, 2023	J-GAAP
Mar, 2024	12,685,716	568,718	702,161	426,649	110.5	20	May 9, 2024	J-GAAP
Mar, 2025 Guidance	12,700,000	150,000	ー	ー	－	－	Nov 7, 2024	J-GAAP
YoY	+0.1%	-73.6%	－	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	3,145,686	208,148	246,102	190,735	48.7	6.6	Nov 9, 2023	J-GAAP
Oct - Dec, 2023	3,108,060	141,632	127,442	29,144	7.5	4.6	Feb 8, 2024	J-GAAP
Jan - Mar, 2024	3,514,310	90,343	162,038	101,295	26.2	2.6	May 9, 2024	J-GAAP
Apr - Jun, 2024	2,998,395	995	65,128	28,562	7.8	0.0	Jul 25, 2024	J-GAAP
Jul - Sep, 2024	2,985,826	31,913	50,929	-9,339	-2.6	1.1	Nov 7, 2024	J-GAAP
YoY	-5.1%	-84.7%	-79.3%	－	－