YOKOHAMA, Japan – Nissan Motor Co., Ltd. today announced financial results for the three-month period to Dec. 31, 2018.

For the quarter, Nissan generated an operating profit of 103.3 billion yen on net revenues of 3.05 trillion yen, equivalent to an operating margin of 3.4%. Overall operations continued to improve in the third quarter, despite consistently challenging market conditions: In Japan, China, Thailand, the Philippines and Latin America the company’s vehicle sales outperformed the market. While sales decreased in the U.S., quality of sales improved.

The company’s results for the full fiscal year also reflect 9.2 billion yen that had not been booked in prior fiscal years.


TSE report basis – China JV equity basis1

Yen in billions FY17 Q3 FY18 Q3 % change year on year
Revenues 2,875.5 3,045.7 +5.9
Operating profit 82.4 103.3 +25.4
Net income2 301.6 70.4 -76.7


Taking the factors described above into account, in the first nine months of the fiscal year, Nissan generated net revenues of 8.58 trillion yen and an operating profit of 313.7 billion yen, a decrease of 13.9% over the same period of fiscal year 2017.


TSE report basis – China JV equity basis1

Yen in billions FY17 Q3 YTD FY18 Q3 YTD % change year on year
Revenues 8,528.0 8,578.4 +0.6
Operating profit 364.2 313.7 -13.9
Operating margin % 4.3 3.7 -0.6 ppt
Ordinary profit 496.7 471.8 -5.0
Net income2 578.1 316.7 -45.2


In the first nine months of the fiscal year, on a management pro forma basis, which includes the proportionate consolidation of results from Nissan’s joint venture operation in China, operating profit was 451.0 billion yen, equivalent to an operating margin of 4.7%, and net income2 was 316.7 billion yen.

In the first nine months of the year, global total industry volume increased 0.3% to 68.74 million units over the same period of fiscal 2017. Over the same period, Nissan’s global unit sales were 4.02 million units, a decrease of 2.1%, with growth in Japan, China and other markets offset by decreases in North America and Europe. This was equivalent to a global market share of 5.9%, down 0.1 percentage point from a year earlier.


Given the performance in the first nine months of the year, the company has revised its full-year forecasts. It expects to sell 5.60 million vehicles in fiscal 2018.

The company has filed the following revised fiscal-year forecasts to the Tokyo Stock Exchange. Calculated under the equity accounting method for Nissan’s joint venture in China, the forecasts for the fiscal year ending March 31, 2019 are:


Nissan FY18 Outlook – TSE report basis – China JV equity basis1

Yen in billions Previous FY18
Revised FY18
Change in
Revenues 12,000 11,600 -400
Operating profit 540 450 -90
Net income2 500 410 -90


1 Since the beginning of fiscal year 2013, Nissan has reported figures calculated under the equity method accounting for its joint venture with Dong Feng in China. Although net income reporting remains unchanged under this accounting method, the equity-accounting income statements no longer include Dong Feng-Nissan’s results in revenues and operating profit.
2 Net income attributable to owners of the parent


About Nissan Motor Co., Ltd.
Nissan is a global full-line vehicle manufacturer that sells more than 60 models under the Nissan, INFINITI and Datsun brands. In fiscal year 2017, the company sold 5.77 million vehicles globally, generating revenue of 11.9 trillion yen. On April 1, 2017, the company embarked on Nissan M.O.V.E. to 2022, a six-year plan targeting a 30% increase in annualized revenues to 16.5 trillion yen by the end of fiscal 2022, along with cumulative free cash flow of 2.5 trillion yen. As part of Nissan M.O.V.E. to 2022, the company plans to extend its leadership in electric vehicles, symbolized by the world's best-selling all-electric vehicle in history, the Nissan LEAF. Nissan’s global headquarters in Yokohama, Japan, manages operations in six regions: Asia & Oceania; Africa, the Middle East & India; China; Europe; Latin America; and North America. Nissan has partnered with French manufacturer Renault since 1999 and acquired a 34% stake in Mitsubishi Motors in 2016. The Renault-Nissan-Mitsubishi alliance sold 10.76 million vehicles combined in calendar year 2018.





Koji Okuda or Nicholas Maxfield

For more information about our products, services and commitment to sustainable mobility, visit You can also follow us on Facebook, Instagram, Twitter and LinkedIn and see all our latest videos on YouTube.