Nissan contributes to Renault Group’s second quarter 2024 earnings
Nissan’s results, published in Japanese accounting standards, for the first quarter of fiscal year 2024/2025 (April 1st to June 30th, 2024), after IFRS restatements, have a positive contribution to Renault Group’s second quarter 2024 net income estimated at €38 million[1].
As a reminder, following the sales by Renault Group of 211 million and 99.1 million Nissan shares announced on December 13, 2023 and March 28, 2024, respectively, and the cancellation of the acquired shares as part of the buyback by Nissan, Renault Group’s holding position as of June 30th, 2024 amounts to 38.92% of Nissan’s capital (16.19% of Nissan shares are held directly and 22.73% of shares are held in the French trust of which Renault Group is the beneficiary).
[1] Based on an average exchange rate of 167.8 yen/euro for the period under review and an interest rate of 39.1% at 30 June 2024.
