Nissan reports double-digit income boost for last year image

Nissan said its net income rose by 14,5 percent for the financial year ended in March, on the back of strong results in US and China.

Following the “surprising” announcement of becoming Mitsubishi’s largest shareholder, Nissan also revealed its financial report for the year ended in March. The company’s operating profit rose more than 34 percent to 6.6 billion dollars (793.3 billion yen) for the fiscal year 2015, representing a 6.5 percent margin on net revenues that reached 101.4 billion dollars (12.19 trillion yen) for the period, while the net income jumped 14.5 percent to 4.4 billion dollars (523.8 billion yen).

These solid results reflect the success of our continuing product offensive, particularly in the North American market,” Carlos Ghosn, president and chief executive officer, said. “Encouraging demand for new models, combined with continued cost efficiency, helped us withstand currency headwinds and volatile trading conditions in several emerging markets.”

Nissan sold 5.42 million vehicles last year, up 1.8 percent over the previous one, mainly due to a strong demand in the US, where deliveries rose by 8.4 percent to a record 1,517,494 units. The Chinese market proved to be positive as well, with a sales increase of 1.4 percent year-on-year to 1,252,491 units. By contrast, in Japan, vehicle registrations decreased 3.7 percent, while mini-vehicle sales fell 15.6 percent. And this is exactly why Carlos Ghosn seized the moment and bought 34 percent stake in Mitsubishi, so Nissan could gain some pace on domestic grounds and on emerging markets as well.

As for the 2016-2017 outlook, the automaker expects to sell 5.6 million units, relying on some recently launched models such as Maxima, Altima, TITAN pick-up truck and Infiniti QX30, while it sees its net income staying flat.