Nissan Motor Co., Ltd. announced financial results for the 12-month period to March 31, 2018.
For the first nine months of the fiscal year, the company faced significant costs associated with special items, inventory adjustments and negative pricing trends. However, a partial recovery was achieved due to strong sales performance in the final three-month period.
For the full year, Nissan generated an operating profit of JPY574.8 billion ($5.23 billion) on net revenues of JPY11.95 trillion ($108.8 billion), equivalent to an operating margin of 4.8%.
Full-year net income rose by 12.6% to JPY746.9 billion ($6.8 billion) as non-operating income and the favorable impact of US tax reforms more than compensated for the reduction in operating profit.
In fiscal year 2017, the company launched its Nissan M.O.V.E. to 2022 mid-term plan, and global unit sales rose 2.6% to record-high unit sales of 5.77 million units.
Sales in Japan rose by 4.8% to 584,000 units mainly from contribution of the launch of the core models of Nissan Intelligent Mobility, the Note e-Power and the new Nissan Leaf.
In China, where Nissan reports figures on a calendar-year basis, unit sales rose 12.2% to 1.52 million units, equivalent to a market share of 5.6% driven by demand for models including the Nissan X-Trail and Sylphy, as well as the growth of the Venucia brand.
In the U.S., Nissan’s sales reached 1.59 million units, equivalent to a market share of 9.2%.
Nissan sales in Europe, excluding Russia, fell by 4.6% to 652,000 units, impacted by the market decline in the UK and intensified competition in the crossover segment, both of which have been areas of strength for Nissan. This resulted in a market share of 3.6%. Unit sales in Russia, however, rose 12% to 105,000 units.
In other markets, including Asia and Oceania, Latin America, the Middle East and Africa, Nissan’s sales rose 1.3% to 819,000 units.