NISSAN MOTOR, The Current Fiscal Year Operating Profit Revised Downward by 20%

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Thu Feb 13, 2025 5:40 pm JST Earnings

7201 NISSAN MOTOR CO., LTD. 【J-GAAP】

Earnings Report

NISSAN MOTOR CO., LTD. <7201> [TSE Prime] announced its financial results after the market closed on February 13th (17:40). The consolidated operating profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) significantly dropped 86.6% from the same period last year to 64 billion yen.

In addition, the full-year consolidated operating profit has decreased 20.0%, from the previous forecast of 150 billion yen to 120 billion yen (compared to 568 billion yen in the previous period), leading to an increase in the profit decline rate from 73.6% to 78.9%.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated operating profit for the October to March period (2H) has decreased 25.6%, from the previous forecast of 117 billion yen to 87 billion yen (compared to 231 billion yen in the same period of the previous year), leading to an increase in the profit decline rate from 49.5% to 62.5%.

In the most recent three-month period, from October to December (3Q), the consolidated operating profit significantly dropped to 31.1 billion yen, a 78.0% decrease compared to the same period last year. The operating profit margin drastically worsened from 4.6% in the same period last year to 1.0%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Dec, 2022	7,499,691	289,701	380,406	115,040	29.4	73.8	Feb 9, 2023	J-GAAP
Apr - Dec, 2023	9,171,406	478,375	540,123	325,354	83.5	76.9	Feb 8, 2024	J-GAAP
Apr - Dec, 2024	9,143,207	64,010	159,417	5,148	1.4	ー	Feb 13, 2025	J-GAAP
YoY	-0.3%	-86.6%	-70.5%	-98.4%	-98.3%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024 Prev	6,715,779	117,092	ー	ー	－	－	Nov 7, 2024	J-GAAP
Oct - Mar, 2024 New	6,515,779	87,092	ー	-99,223	-28.4	－	Feb 13, 2025	J-GAAP
Revision Rate	-3.0%	-25.6%	－	－	－

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	12,700,000	150,000	ー	ー	－	－	Nov 7, 2024	J-GAAP
Mar, 2025 New	12,500,000	120,000	ー	-80,000	-22.9	－	Feb 13, 2025	J-GAAP
Revision Rate	-1.6%	-20.0%	－	－	－

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	6,515,779	87,092	ー	-99,223	-28.4	－	Feb 13, 2025	J-GAAP
YoY	-1.6%	-62.5%	－	－	－

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	12,500,000	120,000	ー	-80,000	-22.9	－	Feb 13, 2025	J-GAAP
YoY	-1.5%	-78.9%	－	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
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
Oct - Dec, 2024	3,158,986	31,102	43,360	-14,075	-3.9	1.0	Feb 13, 2025	J-GAAP
YoY	+1.6%	-78.0%	-66.0%	－	－