The Strategist

Nissan closes first half of financial year with a profit

11/10/2021 - 09:53

Japanese automaker Nissan Motor's net profit attributable to shareholders of the parent company was 168.646 billion yen ($1.5 billion) for the first half of fiscal 2021-2022, compared with a loss of 330 billion yen ($3 billion) a year earlier, according to the company's financial statements.

Elliott Brown
Elliott Brown
Earnings per share were 43.09 yen ($0.38) against a loss of 84.33 yen ($0.8) a year earlier. Revenue rose 27.6% to 3.947 trillion yen ($34.8 billion).

Nissan posted net profit of 54.115 billion yen ($477 million) for the second quarter of its fiscal year, compared with a loss of 44.37 billion yen ($421 million) a year earlier. Earnings per share were 13.83 yen ($0.12) against a loss of 11.34 yen ($0.1) a year earlier. Revenue rose 1.1 percent to 1.939 trillion yen ($17.1 billion).

The company sold 2.002 million vehicles worldwide in the past six months, up 17.8% from a year ago.

Overall, Nissan expects a net profit of 180 billion yen ($1.6 billion) for the current fiscal, three times its summer forecast. Revenue is projected at 8.8 trillion yen ($77.5 billion) instead of the 9.75 trillion yen ($85.9 billion) previously expected. Thus, growth for the year could be 11.9%. The forecast for car sales has been worsened to 3.8 million units from 4.4 million in the previous forecast. In 2020, 4.052 million cars were sold.

Nissan Motor is one of the largest car manufacturers in Japan. The company was founded in 1933 and is part of the Renault-Nissan-Mitsubishi alliance.