YOKOHAMA (July 27, 2011) - Nissan Motor Co., Ltd., today announced an operating profit of 150.4 billion yen (US $1.84 billion, euro 1.28 billion) for the first quarter of fiscal year 2011, ending March 31, 2012.
"Our rapid recovery from the natural disasters in March once again shows the power of Nissan in responding effectively and decisively to crisis," said Nissan President and CEO, Carlos Ghosn. "Nissan's performance in the first quarter, despite strong headwinds such as foreign exchange and rising raw material costs, demonstrates our potential to deliver the goals of our recently announced Nissan Power 88 mid-term plan."
Globally, Nissan sold a total of 1,056,000 vehicles in the first quarter of fiscal year 2011, up 10.6% compared to the same period in fiscal 2010.
Net revenue increased 1.6% to 2.082 trillion yen (US $25.48 billion, euro 17.73 billion), while the ordinary profit amounted to 147.7 billion yen (US $1.81 billion, euro 1.26 billion) and net income totaled 85 billion yen (US $1.04 billion, euro 720 million).
In fiscal year 2011, Nissan will deliver five all-new models globally. In the first quarter, the Tiida hatchback made its debut in China and the Lafesta Highway STAR minivan was launched in Japan. Three more all-new models will be introduced, the NV400 front- and rear-wheel-drive commercial vehicles for Europe and the Infiniti JX in North America.
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Note1: Amounts in dollars and euros are translated for the convenience of the reader at the foreign-exchange rates of 81.7 yen/dollar and 117.4 yen/euro, the average rates for the fiscal year to date.
Note2: Nissan announced its financial forecasts for fiscal year 2011 (April 1, 2011 through March 31, 2012) on June 23, based on foreign exchange rate assumptions of 80.0 yen/dollar and 115.0 yen/euro, and filed the following forecasts with the Tokyo Stock Exchange:
- Net revenues of 9.4 trillion yen (US $117.5 billion, euro 81.74 billion);
- Operating profit of 460 billion yen (US $5.75 billion, euro 4 billion);
- Ordinary profit of 441 billion yen (US $5.51 billion, euro 3.83 billion);
- Net income of 270 billion yen (US $3.38 billion, euro 2.35 billion);
- Capital expenditures of 410 billion yen (US $5.13 billion, euro 3.57 billion); and
- R&D expenses of 460 billion yen (US $5.75 billion, euro 4 billion).
About Nissan
Nissan Motor Co., Ltd., Japan's second-largest automotive company, is headquartered in Yokohama, Japan, and is part of the Renault-Nissan Alliance. Operating with more than 248,000 employees globally, Nissan provided customers with more than 4.1 million vehicles in 2010, generating revenue of 8.77 trillion yen ($102.37 billion US). With a strong commitment to developing exciting and innovative products for all, Nissan delivers a comprehensive range of 64 models under the Nissan and Infiniti brands. A pioneer in zero-emission mobility, Nissan made history with the introduction of the Nissan LEAF, the first affordable, mass-market, pure-electric vehicle and winner of numerous international accolades, including the prestigious 2011 European Car of the Year award and 2011 World Car of the Year.
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