Nissan has returned to a positive operating profit of 27.1 billion yen for the quarter ended 31 December 2020. The company benefitted from a rebound to sales, lower incentives and tighter cost management.
Nissan also reduced its forecast operating loss for the year ended March 31, 2021 to 205 billion yen from 340 billion yen previously forecast.
In the third quarter of the fiscal year, consolidated net revenue was 2.22 trillion yen, consolidated operating profit was 27.1 billion yen, and the operating profit margin was 1.2%. The net loss in the third quarter was 37.8 billion yen. Compared with the same period last year, improvements in selling expenses and reductions in manufacturing and fixed costs resulted in a positive contribution to profit, Nissan said.
Nissan said it will continue its efforts to improve the quality of sales, reduce inventories and optimize costs in the fourth quarter to achieve its revised full-year outlook.
“We are steadfastly advancing the Nissan NEXT business transformation plan,” said Nissan CEO Makoto Uchida. “We will further improve our financial discipline, renew our product lineup and improve the quality of our sales, while carefully monitoring possible risks. As an important milestone under Nissan NEXT, we will firmly pursue our aim to achieve a 2% operating margin in fiscal year 2021.3”
“While we will remain disciplined in transforming our business, we will further enhance our electrification technology, which is one of our strengths, and continue to launch electrified vehicles globally toward our goal of carbon neutrality in 2050 so that we can enhance our future corporate and brand value.”