SUPPLEMENTAL NISSAN NEWS From: Corporate Communications Department
A30-SN-8078 Date: October 16, 1998
Nissan Revises Its Estimate of Non-Consolidated Financial Results
for the First Half of the Current Fiscal Year
Tokyo ... Nissan Motor Co., Ltd. today issued a revised forecast for the non-consolidated financial results for the first half of the fiscal year ending March 31, 1999.
Forecast for Non-Consolidated Financial Results for the First Half of the Fiscal Year
(from April 1, 1998 to September 30, 1998)
Millions of Yen
|
Net Sales |
Ordinary Income |
Net Profit |
|
|
Previous Forecast (A) |
1,640,000 |
5,000 |
0 |
|
Revised Forecast (B) |
1,639,000 |
29,000 |
-33,000 |
|
Variance (B―A) |
-1,000 |
24,000 |
-33,000 |
|
Variance (%) |
-0.1% |
480.0% |
ー |
Reasons for the Revised Financial Forecast
The company increased ordinary income by \24 billion over its previous forecast through such measures as its rationalization efforts covering a decline in sales resulting from a slump in the Japanese market and the sale of its marketable securities.
The company suffered a special loss of \76 billion in the appraisal of its marketable securities based on the “lower of cost or market value method” owing to a fall in the stock market. However, it managed to hold down its net loss to \33 billion, compared with its previous earnings projection of breaking even, by bringing forward the implementation of its global business reform plan.
Reference (Financial Results for the First Half of the Previous Fiscal Year that Ended March 31, 1998)
Millions of Yen
|
Net Sales |
Ordinary Income |
Net Profit |
|
1,776,101 |
45,356 |
38,502 |
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