NISSAN NET INCOME AT 82 BILLION YEN IN FY2013 FIRST QUARTER
YOKOHAMA, Japan (July 25, 2013) - Nissan Motor Co., Ltd. today announced financial results for
the first quarter (April-June) of fiscal year 2013, which ends on March 31, 2014.
During the first quarter, Nissan's improved market share in Japan and North America could not
completely offset the repercussions in China of the islands dispute and sluggish economic
conditions in Europe. Positive signs of improving sales volume in China, as well as expected
contributions from the full ramp-up of US operations, should enhance Nissan's performance in
the coming quarters of fiscal year 2013 - in line with the company's previously announced
guidance.
Today, Nissan announced the following management pro forma results based on foreign
exchange rates of JPY 98.8/USD and JPY 129.0/EUR, the average rates for fiscal year 2013 to
date:
- Net revenues of JPY 2.51 trillion (USD 25.43 billion, EUR 19.47 billion)
- Operating profit of JPY 117.8 billion (USD 1.19 billion, EUR 913 million)
- Ordinary profit of JPY 101.6 billion (USD 1.03 billion, EUR 788 million)
- Net income of JPY 82.0 billion (USD 830 million, EUR 636 million)
Globally, Nissan sold 1.17 million units in the first quarter, a year-on-year decline of 3.3%.
"Market conditions were challenging in the first quarter, but our results were in line with our prior
expectations. We anticipate robust contributions from our new product launches in the second
quarter and beyond. Nissan is on track to deliver its full-year guidance," said Nissan president
and CEO Carlos Ghosn.
Nissan is maintaining its accelerated pace of new product launches, with plans for the
introduction of the Nissan Rogue crossover and Infiniti Q50 in the US from the second quarter
onward. The company remains on track with its new model offensive under the Nissan Power 88
mid-term business plan, with one new vehicle to be launched every six weeks, on average, for all
six years of the plan through fiscal 2016.
In accordance with changes to financial reporting standards, from fiscal 2013 onwards Nissan has
adopted the equity method to account for the joint venture between Nissan and Dongfeng in
China. Therefore, Nissan's statutory reported income statements no longer reflect the joint
venture's results in revenue and operating profit.
Under the equity accounting method, Nissan today filed the following results with the Tokyo
Stock Exchange, based on foreign exchange rates of JPY 98.8/USD and 129.0/EUR, the average
rates for fiscal year 2013 to date:
- Net revenues of JPY 2.23 trillion (USD 22.60 billion, EUR 17.31 billion)
- Operating profit of JPY 108.1 billion (USD 1.09 billion, EUR 838 million)
- Ordinary profit of JPY 114.8 billion (USD 1.16 billion, EUR 890 million)
- Net income of JPY 82.0 billion (USD 830 million, EUR 636 million)
