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Nissan revises down FY forecasts for fiscal year 2018

Auto News - Published on Thu, 25 Apr 2019

Image Source: ET Auto
Nissan announced a downward revision to its February 12 forecasts for financial results for the full fiscal year ending March 31, 2019. The revision takes into account, additional expenses arising from the implementation of a warranty extension campaign covering certain vehicles sold in the US market, the adverse operating environment facing the company during the fourth quarter and the impact of recent corporate issues on sales.

Revised forecast for fiscal year 2018
Yen in billionsPrevious FY18 ForecastRevised FY18 ForecastChange in forecastIn %
Revenues11,60011,574-26(-0.2%)
Operating profit450318132(-29.3%)
Operating margin %3.90%2.70%-1.2 ppt
Net income241031991(-22.2%)
 

TSE report basis – China JV equity basis11

On a management pro forma basis, which includes the proportionate consolidation of results from Nissan’s joint venture operation in China, the company forecasts an operating profit of JPY 493 billion, equivalent to an operating margin of 3.8%, with net income of JPY 319 billion.
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

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Posted By : Ratan Singh on Thu, 25 Apr 2019
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