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Nissan reports first-half results for fiscal year 2018

YOKOHAMA, Japan – Nissan Motor Co., Ltd. today announced financial results for the six-month period to Sept. 30, 2018.

In the first half, the company’s net revenue fell 2.1% to 5.53 trillion yen. Operating profit fell 25.4% to 210.3 billion yen, equivalent to an operating profit margin of 3.8%. This was largely due to a planned decrease in wholesale volume as part of the company’s ongoing efforts to reduce dealer inventory levels and improve the quality of sales. Thanks to the strength of Nissan’s operations in China, net income1 fell less steeply, declining 10.9% to 246.3 billion yen.

The company’s overall operations improved steadily in the first half despite consistently challenging market conditions. Optimization of global dealer inventory levels is ongoing, and to that end, planned adjustments were made to wholesale volumes in the second quarter. This resulted in a decrease in revenue, although retail sales volumes remained essentially the same as the previous year.

On a regional basis, substantial progress was made in improving the quality of sales by reducing inventories and optimizing incentive levels in the U.S. market. Sales in Japan recovered from the impact of last year’s final vehicle inspection issue. Meanwhile, sales volumes in Thailand, the Philippines and Latin America, in particular, increased substantially. The company’s operations in China also performed well during the period. Nissan will continue efforts to strengthen its business, with the aim of ensuring that performance recovers in the second half.

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