Nissan has a net loss of 367.7 billion yen in the first three fiscal quarters of 2020

A few days ago, Nissan Motor Company announced its financial report for the first three quarters of fiscal 2020 (April 1, 2020-December 31, 2020). Data show that in the first three quarters of fiscal 2020, Nissan Motor’s consolidated net income was 5.32 trillion yen, consolidated operating losses were 131.6 billion yen, and operating margins were -2.5%. The net loss in the first nine months was 367.7 billion days. Yuan (approximately RMB 22.5 billion).

Nissan said that the company’s performance in the third quarter has recovered, so consolidated operating losses and operating profit margins are improving. Data show that in the third quarter of fiscal 2020, Nissan Motor’s consolidated net income was 2.22 trillion yen, consolidated operating profit was 27.1 billion yen, operating profit margin was 1.2%, and the third quarter’s net loss was 137.8 billion yen. Compared with the previous quarter, Nissan's operating profit in the third quarter returned to positive.

In order to overcome the adverse effects of the epidemic, Nissan Motor Company has carried out strategic accumulation of liquid assets. As of September 2020, the cash and cash equivalents held by Nissan's automotive business segment are approximately 200 million yen, and net cash is 525.5 billion yen. In addition, as of the end of December 2020, Nissan's unused committed credit line is approximately 2.1 trillion yen.

Looking forward to fiscal year 2020, Nissan lowered its full-year sales forecast for fiscal year 2020 to 4.015 million vehicles, which is 3.6% lower than the previous forecast. Although sales are expected to be revised downwards, due to improvements in sales expenses, sales finance, production and fixed costs, Nissan Motor expects full-year net income of 7.7 trillion yen in fiscal year 2020, and an operating loss of 205 billion yen, a decrease from previous expectations. A loss of 135 billion yen. The net loss is expected to be 530 billion yen, a decrease of 85 billion yen from previous expectations.