Nissan said it had “faced a range of challenges during fiscal year 2012, yet fourth quarter profitability enabled the company to achieve its full-year net income target”.

Net income was JPY342.4bn (US$4.13bn, EUR3.21bn), up just 0.3% year on year on revenues up 2.3% to JPY9.63 trillion ($116.16bn, EUR90.17bn). Operating profit was JPY523.5bn ($6.31bn, EUR4.90bn).

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Fiscal year 2012/3 global sales to 31 March reached a record of 4.914m units, up 1.4% year on year.

President and CEO Carlos Ghosn said: “Fiscal 2012 was marked by both successes and challenges for Nissan. We ended the year with a sound balance sheet, record global sales, an improved brand, and an expanded presence in critical growth markets. Equally important, we have taken countermeasures that will enable us to navigate the headwinds that lie ahead and resume significant growth. As we enter the third year of the Nissan Power 88 mid-term plan, I am confident we have the right strategy in place to deliver on our business objectives.”

Sales in the US were up 5.4% to 1.14m units. Sales in China, where sales of Japanese brands were hit by the island territorial dispute, declined 5.3% to 1.18m vehicles. Across Europe including Russia, sales were 660,000 units, falling 7.5%. In Japan, sales were down 1.3% to 647,000 units. Strong results were reported in other markets, including Thailand, Brazil, and the Middle East; sales totalled 959,000 units, up 16.3%.

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FY2013 Outlook

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The global sales forecast for fiscal year 2013 is 5.3m units, an increase of 7.8%. Nissan plans to launch several new vehicles during fiscal 2013; among them will be the first new Datsun model since the 1980s as the brand is revived as a new low cost nameplate.

Based on this sales outlook and an exchange rate of JPY95/$and JPY122/EUR, Nissan forecast:

  • Net revenue: JPY11.2 trillion ($117.89bn, EUR91.80bn)
  • Operating profit: JPY700bn ($7.37bn, EUR5.74bn)
  • Net income: JPY420bn ($4.42bn, EUR3.44bn).