Nissan Motor generated an operating profit of 742.2 billion yen ($6.54 billion) on net revenues of 11.72 trillion yen in 2016 as strong sales in the US, China and Western Europe partly offset the impact of foreign exchange and weakness in emerging markets.

On a management pro forma basis, which includes the proportionate consolidation of results from Nissan’s joint venture operation in China, operating profit was 882.4 billion yen on net revenues of 12.84 trillion yen.

For the fiscal year, Nissan’s global unit sales were 5.63 million units.

In the US, Nissan’s sales rose by 4.2 per cent to 1.58 million units, equivalent to a market share of 9.0 per cent, amid solid demand for models including the Rogue and Altima.

Nissan unit sales in China, which reports figures on a calendar year basis, rose 8.4 per cent to 1.35 million units, equivalent to market share of 5.0 per cent. In Europe, excluding Russia, Nissan’s sales rose by 7.2 per cent to 683,000 units, which resulted in a market share of 3.8 per cent. The Qashqai SUV and Navara pickup helped drive demand in the region.

Nissan’s performance in these key markets helped offset challenging conditions in the Japanese market, reflecting the suspension of Kei car sales in the first half. Sales in Japan – where Kei car sales have resumed – reached 557,000 units for the 12-month period, representing a market share of 11 per cent. In other markets including Asia and Oceania, Latin America, the Middle East and Africa, Nissan’s sales decreased 3.3 per cent to 808,000 units.

Outlook

The company expects to sell 5.83 million units in fiscal 2017. Recently-launched models including the Nissan Micra, Armada, Kicks, and Note e-POWER and Serena in Japan, are expected to contribute to sales growth in the coming financial year.

Since the beginning of fiscal year 2013, Nissan has reported figures calculated under the equity method accounting for its joint venture with Dong Feng in China. Although net income reporting remains unchanged under this accounting method, the equity-accounting income statements no longer include Dong-Feng-Nissan’s results in revenues and operating profit. – TradeArabia News Service