Nissan files financial statements for first half fiscal year 2001
Tokyo (November 20)- Nissan Motor Co., Ltd. filed today its financial results for the first half of fiscal year ended September 30, 2001. The numbers filed today were strictly in line with those pre-announced on October 25, 2001.
The results filed today represent the third consecutive half of record profit and the best financial performance of the company in more than a decade. The results were made possible through the swift and strong implementation of the Nissan Revival Plan that the company announced on October 18, 1999.
Consolidated Financial Results:
Unit Sales
Nissan's global vehicle sales of passenger cars and light commercial vehicles for first half of fiscal year 2001 reached 1,286,000 units compared to 1,337,000 units in the first half of fiscal year 2000.
Net Sales
Consolidated net sales for the half year came to 2,977.5 billion Yen ($ 24.81 billion, Euro 27.57 billion), a drop of 1.4% from the first half of fiscal year 2000.
Operating Income
Consolidated operating profit rose 40.5% to 188.8 billion Yen ($ 1.57 billion, Euro 1.75 billion) representing 6.3% of sales compared to 4.5% for the first half of fiscal year 2000.
Ordinary Income
Consolidated ordinary profit came to 160.3 billion Yen ($ 1.34 billion, Euro 1.48 billion) up 22.7% compared to the first half of the prior year.
Income before taxes
Consolidated net income before taxes totaled 165.4 billion Yen ($ 1.38 billion, 1.53 Euro billion) compared to 173.6 billion Yen in the first half of fiscal year 2000.
Income taxes
Current income taxes for the period came to 29.5 billion Yen ($ 0.25 billion, Euro 0.27 billion) but their impact was offset by the recognition of 98.0 billion Yen ($ 0.82 billion, Euro 0.91 billion) in deferred taxes.
Net income
Consolidated net income after tax was 230.3 billion Yen ($ 1.92 billion, Euro 2.13 billion) up 33.9% from the same period fiscal year 2000.
Indebtedness and Financial Condition
Consolidated net financial indebtedness of the automotive business decreased by 154 billion yen from March 31, 2001 to 799 billion Yen ($ 6.66 billion, Euro 7.40 billion).
Shareholder's Equity
Consolidated shareholder's equity as of September 30, 2001, totaled 1,159.3 billion Yen ($ 9.66 billion, Euro 10.73 billion), an increase of 201.4 billion Yen compared to 957.9 billion yen as of March 31, 2001.
Outlook
Nissan made no changes to the companys full-year financial forecast for fiscal year 2001 of a consolidated operating income of 350 billion, a consolidated ordinary income of 290 billion and net income after tax of 330 billion yen.
End
Note: Amounts expressed in US$ and Euro in this press release have been translated for convenience only at 120 Yen = 1 US$ and 108Yen = 1 Euro.