Nissan FY2012 Net Income at 342.4 Billion Yen (USD 4.13 Billion)
YOKOHAMA, Japan – Nissan Motor Co., Ltd. today announced financial results for the twelve-month period ending March 31, 2013. Nissan faced a range of challenges during fiscal year 2012, yet fourth quarter profitability enabled the company to achieve its full-year net income target. Nissan also generated strong free cash flow and strengthened its balance sheet during FY2012.
Today, Nissan filed the following results with the Tokyo Stock Exchange, based on foreign exchange rates of JPY 82.9/USD and JPY 106.8/EUR, the average rates for the fiscal year ending March 31, 2013:
- Net revenues of JPY 9.63 trillion (USD 116.16 billion, EUR 90.17 billion);
- Operating profit of JPY 523.5 billion (USD 6.31 billion, EUR 4.90 billion);
- Ordinary profit of JPY 529.3 billion (USD 6.38 billion, EUR 4.96 billion); and
- Net income of JPY 342.4 billion (USD 4.13 billion, EUR 3.21 billion).
In FY2012, global sales reached a record-high of 4.914 million units, up 1.4% over FY2011. Ten new models were launched to global markets, including the new Altima in the United States; Sylphy in China; and the Note in Japan.
Carlos Ghosn, Nissan President and Chief Executive Officer, said: “Fiscal 2012 was marked by both successes and challenges for Nissan. We ended the year with a sound balance sheet, record global sales, an improved brand, and an expanded presence in critical growth markets. Equally important, we have taken countermeasures that will enable us to navigate the headwinds that lie ahead and resume significant growth. As we enter the third year of the Nissan Power 88 mid-term plan, I am confident we have the right strategy in place to deliver on our business objectives.”
Looking at sales performance in global markets, sales in the US were up 5.4% to 1.14 million units. Sales volume in China, where sales of Japanese brands have been impacted by the island dispute, declined 5.3% year-on-year to 1.18 million vehicles. Across Europe including Russia, sales were 660,000 units, falling 7.5%. In Japan, sales were down 1.3% to 647,000 units. Strong results were reported in other markets, including Thailand, Brazil, and the Middle East; sales totalled 959,000 units, up 16.3% over the prior year.
Nissan solidified its position as the leading automaker for electric vehicles and zero-emission mobility during the fiscal year. More than 62,000 Nissan LEAF units have been sold worldwide since the product’s launch. During 2012, Nissan launched production in the U.S. and the U.K. to increase the ability to grow global sales.
FY2013 Outlook
The global sales forecast for fiscal year 2013 is 5.3 million units, an increase of 7.8%. Nissan plans to launch several new vehicles during fiscal 2013; among them will be the first new model of the Datsun brand.
Based on this sales outlook and an exchange rate of JPY 95/USD and JPY 122/EUR, the following is Nissan’s pro forma outlook for the fiscal year ending March 31, 2014:
- Net revenue is forecast to be JPY 11.2 trillion (USD 117.89 billion, EUR 91.80 billion);
- Operating profit is expected to be JPY 700 billion (USD 7.37 billion, EUR 5.74 billion);
- Ordinary profit is expected to be JPY 665 billion (USD 7.0 billion, EUR 5.45 billion); and
- Net income is forecast to be JPY 420 billion (USD 4.42 billion, EUR 3.44 billion).
Due to changes in reporting standards, Nissan will use different methodology to account for its financial results from fiscal 2013 onward. Specifically, Nissan will shift to the Equity Method accounting procedures starting in fiscal 2013 for the joint venture between Nissan and Dongfeng in China. Though net income reporting will remain unchanged under the new accounting method, henceforward income statements will no longer include Dongfeng-Nissan’s results in revenues and operating profit.
Based on the new reporting method, Nissan today filed the following forecasts with the Tokyo Stock Exchange, based on foreign exchange rates of JPY 95/USD and JPY 122/EUR, for the fiscal year ending March 31, 2014:
- Net revenue is forecast to be JPY 10.37 trillion (USD 109.16 billion, EUR 85.0 billion);
- Operating profit is expected to be JPY 610 billion (USD 6.42 billion, EUR 5.0 billion);
- Ordinary profit is expected to be JPY 645 billion (USD 6.79 billion, EUR 5.29 billion); and
- Net income is forecast to be JPN 420 billion (USD 4.42 billion, EUR 3.44 billion).
Nissan Reports 23.2% Increase in U.S. Sales
- Nissan Reports 23.2% Increase in U.S. April Sales
- Strong retail demand for core Altima, Pathfinder and Sentra models drive April sales growth
- Infiniti G Line, JX push luxury sales up 10%
NASHVILLE, Tenn. – Nissan North America, Inc. today reported April U.S. sales of 87,847 units versus 71,329 units a year earlier, up 23.2 percent. Nissan Division sales rose 24.6 percent for the month at 80,003 units, driven by retail sales gains by top-selling models like Altima, Pathfinder, Sentra and Rogue. Sales of Infiniti vehicles were up 10 percent over the prior year, to 7,844 units.
NISSAN HIGHLIGHTS
Nissan Division posted 80,003 sales, an increase of 24.6 percent over last April’s 64,200 unit total.
Sales of Nissan Altima rose 35.4 percent to 21,991, driven by a 42 percent increase in retail deliveries.
Nissan Rogue crossover sales set a new April record at 11,904 units, an increase of 39 percent over the prior April.
Nissan Pathfinder sales were up 214.7 percent to 6,473, setting a new April record and marking the sixth consecutive month it posted an increase in deliveries of at least 145 percent. Pathfinder sales are up 180.9 percent in 2013.
Sales of the all-electric Nissan LEAF jumped 423.5 percent to 1,937, spurred by the move of vehicle assembly to Nissan’s vehicle and battery assembly facilities in Smyrna, Tenn., as well as a substantial price repositioning to include a wider range of trim levels and added value. Year-to-date, LEAF sales are up more than 160 percent.
The all-new Nissan Sentra posted a 44.9 percent sales increase, at 10,734 deliveries.
Comments from Jose Munoz, senior vice president, Sales and Marketing – Nissan Americas:
“April was a very good sales month for the Nissan division, not only from an overall volume standpoint where we were up more than 24 percent, but also in retail where our sales rose more than 32 percent.”
“In the first quarter of 2013, we improved our retail sales by more than 4 percent while reducing deliveries to fleet customers by more than 17 percent. We continued this trend in April with retail up 29 percent and fleet mix down over four percentage points from one year ago, which proves that our new products such as Altima, Sentra and Pathfinder are taking strong hold in the marketplace.”
“Our strong performance in April was driven largely by double and even triple digit increases on some of our core products, such as Altima up more than 35 percent, Sentra up nearly 45 percent, Rogue up 39 percent and the all-new Pathfinder up over 214 percent.”
“We expect to have gained market share in April due to our strong retail performance, which we have full intention to continue through the summer months given the building momentum that we are seeing with Altima, Sentra and Pathfinder in particular.”
“With a strong April building on a record-breaking March, Nissan LEAF sales are now up over 160 percent year-to-date. The wider array of trim levels and lower price driven by the start of U.S. LEAF production at our Smyrna plant are bringing more new customers to our showrooms every day.”
Infiniti U.S. Sales Increase 10 Percent in April
– Infiniti G Sedan Up 29 Percent and JX Crossover Increases 24 Percent –
NASHVILLE, Tenn. – Infiniti today reported U.S. sales of 7,844 vehicles for the month of April, an increase of 10.0 percent versus 7,129 units a year earlier. Calendar year-to-date sales for Infiniti are 35,220, up 5.6 percent from 33,349 units in 2012.
Highlights of Infiniti’s sales performance in April include:
Deliveries of Infiniti G Sedan totaled 2,696, an increase of 29 percent.
The Infiniti FX performance crossover was up 12.8 percent.
Sales of the Infiniti JX 7-passenger luxury crossover increased 24.1 percent to 2,580 in April.
Overall, sales of Infiniti cars were up 13.3 percent, and its crossovers and sport utility vehicles were up 7.0 percent.
INFINITI HIGHLIGHTS
Infiniti today reported sales of 7,844 units in April, an increase of 10 percent from 7,129 units during April 2012.
Deliveries of Infiniti G Sedan totaled 2,696, an increase of 29 percent.
Infiniti FX performance crossover was up 12.8 percent.
Sales of the Infiniti JX 7-passenger luxury crossover increased 24.1 percent to 2,580 in April.
NOTE: To ensure consistency in global sales reporting, Nissan North America calculates monthly variances on a straight-percentage basis, unadjusted for the number of selling days. April 2013 had 25 selling days, while April 2012 had 24 selling days.