Nissan Motor (7201) Q4 2025 earnings summary

Executive summary

• FY2024 net revenue was ¥12,633.2 billion, down 0.4% year-over-year, with a net loss of ¥670.9 billion due to significant impairment charges and restructuring costs.

• Operating profit plunged 87.7% to ¥69.8 billion, with global retail sales down 2.8% to 3,346,000 units, mainly from declines in China and Japan, partially offset by growth in North America.

• The company launched a recovery plan targeting cost reductions, product and market strategy refinement, and reinforced partnerships to achieve profitability by FY2026.

Financial highlights

• Operating profit margin dropped to 0.6% from 4.5% year-over-year.

• Extraordinary and impairment losses exceeded ¥494.9 billion, contributing to the net loss.

• Free cash flow in the auto segment was negative ¥242.8 billion.

• Net cash in the auto segment remained stable at ¥1,498.4 billion as of March 31, 2025.

• CapEx reached ¥577 billion; R&D spend remained above ¥600 billion.

Outlook and guidance

• FY2025 net sales are forecast at ¥12,500 billion, with unit sales expected to decrease by 2.9% to 3.25 million units, mainly due to an 18% decline in China.

• Operating profit for FY2025 is expected to be break-even or negative, with no dividend planned.

• Significant uncertainty remains due to potential U.S. tariffs and restructuring impacts.