Worth reading
74In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
1077
¥100 millionWording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationFirst half of the fiscal year ending March 2027 (first half of FY2026)12 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥60,720 100 million+8.8%
Operating profit¥800 100 million
Ordinary income¥360 100 million
Net income¥-397 100 million
Operating profit margin1.3 %
Results for the three months of the current quarter
Net Sales
¥31,078 100 million+8.2%
Operating profit
¥21 100 million-95.9%
Net income
¥-435 100 million
Full-year earnings forecast
Net Sales
¥130,000 100 million
Operating profit
¥2,000 100 million
Net income
¥200 100 million
Operating profit margin
1.5 %
Global vehicle sales
2.97 million–3.00 million
Capital expenditures
¥4,800 100 million
R&D Expenses
¥5,500 100 million
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Higher revenue and profit; Re:Nissan progressing steadily; FY2026 performance targets maintainedBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Foreign exchange479
Raw Materials-699
Tariffs423
Sales performance1,273
Manufacturing costs204
Inflation-261
One-time-38
Other-304
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Full-year average exchange rate
Dollar-yen157
EUR/JPY183
Second-half assumed exchange rates
Dollar-yen155
EUR/JPY181
Global vehicle sales2.97 million–3.00 million units
Production volume2.65 million units
New initiatives
- Expansion of the NEV lineup
- Expanding exports from China
- Launch of new models including the Rogue Hybrid, Elgrand, Kicks, Frontier Pro PHEV and Pixo
- Announcement of a new business plan in February 2027
Key KPIsA metric the company considers important as a management benchmark.
- Global retail sales volume1,410 thousand units-4.7%
- Global production volume1,298 thousand units-6.6%
- Japan retail vehicle sales197 thousand units+6.3%
- North America retail vehicle sales648 thousand units+2.1%
- China retail vehicle sales237 thousand units-15.0%
- Re:Nissan cost savings in the first half¥1,100 100 million
- Net cash in the automotive business¥8,000 100 million
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Details are provided on the effects of unit sales, price revisions and the mix of premium grades, and sales incentives.Segment results
Japan
Net Sales
¥21,803 100 million
Operating profit
¥319 100 million
North America
Net Sales
¥38,752 100 million
Operating profit
¥1,140 100 million
Europe
Net Sales
¥7,794 100 million
Operating profit
¥-507 100 million
Asia
Net Sales
¥6,218 100 million
Operating profit
¥109 100 million
Other regions
Net Sales
¥6,219 100 million
Operating profit
¥-251 100 million
Financial targets
The actual equity ratio was 24.1%; target not disclosedMarket Size / Share
China total market demand decreased 22.1% year on year; the materials state that market share expanded in the United States.Orders received and order backlog
Cumulative orders of 11,000 Elgrand units and 20,000 Kicks unitsCapital expenditures
¥2,130 100 million
Annual Dividend
¥0
| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | First half of the fiscal year ending March 2027 (first half of FY2026) |
| Net Sales | ¥60,720 100 million (YoY +8.8%) |
| Operating profit | ¥800 100 million |
| Ordinary income | ¥360 100 million |
| Net income | ¥-397 100 million |
| Operating profit margin | 1.3 % |
| Results for the three months of the current quarter | Net Sales ¥31,078 100 million (YoY +8.2%) / Operating profit ¥21 100 million (YoY -95.9%) / Net income ¥-435 100 million |
| Full-year earnings forecast | Net Sales ¥130,000 100 million / Operating profit ¥2,000 100 million / Net income ¥200 100 million / Operating profit margin 1.5 % / Global vehicle sales 2.97 million–3.00 million / Capital expenditures ¥4,800 100 million / R&D Expenses ¥5,500 100 million |
| Self-assessment against the plan | Higher revenue and profit; Re:Nissan progressing steadily; FY2026 performance targets maintained |
| Segment results | Japan Net Sales ¥21,803 100 million / Operating profit ¥319 100 million / North America Net Sales ¥38,752 100 million / Operating profit ¥1,140 100 million / Europe Net Sales ¥7,794 100 million / Operating profit ¥-507 100 million / Asia Net Sales ¥6,218 100 million / Operating profit ¥109 100 million / Other regions Net Sales ¥6,219 100 million / Operating profit ¥-251 100 million |
| Breakdown of Factors Affecting the Change | Foreign exchange 479 / Raw Materials -699 / Tariffs 423 / Sales performance 1,273 / Manufacturing costs 204 / Inflation -261 / One-time -38 / Other -304 |
| Key KPIs | Global retail sales volume 1,410 thousand units (YoY -4.7%), Global production volume 1,298 thousand units (YoY -6.6%), Japan retail vehicle sales 197 thousand units (YoY +6.3%), North America retail vehicle sales 648 thousand units (YoY +2.1%), China retail vehicle sales 237 thousand units (YoY -15.0%), Re:Nissan cost savings in the first half ¥1,100 100 million, Net cash in the automotive business ¥8,000 100 million |
| Unit price and quantity metrics | Details are provided on the effects of unit sales, price revisions and the mix of premium grades, and sales incentives. |
| Assumptions Underlying the Business Outlook | Full-year average exchange rate Dollar-yen 157 / EUR/JPY 183 / Second-half assumed exchange rates Dollar-yen 155 / EUR/JPY 181 / Global vehicle sales 2.97 million–3.00 million units / Production volume 2.65 million units |
| Financial targets | The actual equity ratio was 24.1%; target not disclosed |
| Annual Dividend | ¥0 |
| Capital expenditures | ¥2,130 100 million |
| Orders received and order backlog | Cumulative orders of 11,000 Elgrand units and 20,000 Kicks units |
| Market Size / Share | China total market demand decreased 22.1% year on year; the materials state that market share expanded in the United States. |
| New initiatives | Expansion of the NEV lineup, Expanding exports from China, Launch of new models including the Rogue Hybrid, Elgrand, Kicks, Frontier Pro PHEV and Pixo, Announcement of a new business plan in February 2027 |
Items this document does not state (10)
Gross Profit MarginSelling, general and administrative expensesProgress against full-year forecastNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsPayout ratioAcquisition of treasury sharesKey points of the Q&A
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The improvement in operating profit was attributable to ongoing structural reforms, cost reductions under Re:Nissan, foreign exchange movements, improvements in unit sales and mix, and lower manufacturing costs. The lower sales outlook for China reflected sluggish demand, the accelerating shift to NEVs, and intensifying competition.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.