Nissan reports third quarter results for fiscal year 2024
Nissan Motor Co., Ltd. today announced financial results for the third quarter and the nine months ending December 31, 2024.
April-December financial highlights
For the first nine months of the fiscal year, consolidated net revenue was 9.1432 trillion yen, consolidated operating profit was 64.0 billion yen, and operating profit margin was 0.7%. Net income1 for the nine months was 5.1 billion yen.
Net revenue and profits decreased year on year due to a decrease in unit sales, an increase in sales incentives, and inflation.
The following table summarizes Nissan’s financial results for the first nine months of fiscal 2024, calculated under the equity accounting method for Nissan’s China joint venture.
TSE report basis – China JV equity basis2
| Yen in billions | FY23 Q3 YTD | FY24 Q3 YTD | Variance vs FY23 |
| Net revenue | 9,171.4 | 9,143.2 | -28.2 |
| Operating profit | 478.4 | 64.0 | -414.4 |
| Operating margin % | 5.2% | 0.7% | -4.5pts |
| Ordinary profit | 540.1 | 159.4 | -380.7 |
| Net income1 | 325.4 | 5.1 | -320.2 |
Based on average foreign exchange rates of JPY 153/USD and JPY 165/EUR for FY24 Q3 YTD
Third-quarter financial highlights
For the three-month period to December 31, consolidated net revenue was 3.159 trillion yen, consolidated operating profit was 31.1 billion yen, with an operating profit margin of 1.0%.
The following table summarizes Nissan’s financial results for the three-month period, calculated under the equity accounting method for the group’s China joint venture.
TSE report basis – China JV equity basis2
| Yen in billions | FY23 Q3 | FY24 Q3 | Variance vs FY23 |
| Net revenue | 3,108.1 | 3,159.0 | +50.9 |
| Operating profit | 141.6 | 31.1 | -110.5 |
| Net income1 | 29.1 | -14.1 | -43.2 |
Based on average foreign exchange rates of JPY 152/USD and JPY 163/EUR for FY24 Q3
FY2024 outlook
Nissan has revised downward its full year outlook for fiscal year 2024. The revised projections indicate that net revenue is expected at 12,500 billion yen. However, operating profit is expected to reach 120 billion yen, reflecting a decline from previous forecasts due to volume revision and incentive increase, partially offset by better foreign exchange. A net loss of 80 billion yen is expected.
TSE report basis – China JV equity basis2
| Yen in billions | Previous FY24 outlook | Revised FY24 outlook | Variance vs previous outlook |
| Net revenue | 12,700 | 12,500 | -200 |
| Operating profit | 150.0 | 120.0 | -30 |
| Net income1 | TBD | -80 | – |
Based on average foreign exchange rates of JPY 152/USD and JPY 163/EUR for the revised FY24 outlook
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