Nissan has posted nine-month net income from April to December, fiscal 2019, down 88% to JPY39.3bn (US$355m).

Operating profit was JPN54.3bn on net revenues of JPN7.5tn.

Sales performance:

In the first nine months of the fiscal year, global total industry volume decreased 5% year-on-year to 65.3m units, while Nissan’s global unit sales dropped 8.1% to 3.7m units.

Outlook for fiscal year 2019:

“Despite having made steady progress in its business transformation and profit recovery measures, due to weak performance and a slowdown in total industry volume the company has revised its full-year guidance,” said a Nissan statement.

“For the full fiscal year, the company now expects to sell 5.05m vehicles, a decrease of 3.6% from the previous forecast in November.”

The company has revised fiscal-year forecasts, which do not include impact from the novel coronavirus pandemic, to the Tokyo Stock Exchange.

Calculated using the equity accounting method for Nissan’s joint venture in China2, the forecasts for the fiscal year ending 31 March, 2020, are FY2019 net income down 41% to JPN65bn.