Nissan Motor chief competitive officer Hiroto Saikawa told the annual general meeting in the company’s home city of Yokohama, Japan, the automaker had made continued progress on its mid-term business plan, enhanced operational efficiency and delivered “solid” financial results in fiscal 2015. He also highlighted growth in global sales volumes, reaching a new record of 5.43m units amid strong demand in North America and a continued recovery in western Europe.
President and CEO Carlos Ghosn said the company was on track to deliver further growth in fiscal 2016.
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“Our business strategy is clear and effective. We have started this fiscal year in a position of strength, and we are poised to deliver further value to our shareholders,” he said.
As previously reported, Nissan expects net revenues to be approximately JPY11.8trillionn (US$112.80bn) for the 12 months to 31 March 2017. Operating profit is targeted to reach JPY710bn and net income is expected to increase to JPY525bn.
Ghosn identified three priority areas of the automaker’s global strategy:
- Delivering high-quality, innovative new products and breakthrough technologies;
- Enhancing visibility of products and brands to customers worldwide; and
- Strengthening the Renault-Nissan alliance through greater convergence, and driving additional synergies
He reiterated total shareholder returns would be enhanced by the buy-back of 300m shares (or up to JPY400bn) throughout this year. A 14.3% increase in dividends payments to JPY48 per share has been forecast for FY 16, reflecting the company’s expectations for continued profitability and solid free cash flow.
