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26/04/2005
Nissan announces record profits
Japanese car manufacturers Nissan have announced record net income of 512.3 billion yen for the fiscal year ending March 31, 2005, an increase of 1.7%.
Nissan reported that its consolidated net revenues increased by 15.4% to 8.576 trillion yen. Operating profit also increased by 4,4% to a record 861.2 billion yen and the operating profit margin came to 10%, the top level among global automakers, the company stated. Nissan’s ordinary profit also increased by 5.7% to 855.7 billion.
Nissan reported record sales of 3,388,000 vehicles in the last fiscal year, an increase of 10.8%. The company also reported that sales in the United States have increased by 18.4%, topping the one million mark for the first time with sales of 1,013,000. Sales also increased by 1.4% in Japan and by 19.5% in general overseas markets including China, Mexico and Canada. However, the company reported that sales remained “flat” in Europe at 544,000 vehicles.
Commenting on the results, Nissan President and CEO Carlos Ghosn said: “Last year, Nissan rose to the challenge and delivered a record performance despite many headwinds, such as unfavourable exchange rates, higher commodity prices, higher incentives and higher interest rates. The fundamentals of the business are strong, our products are attractive to consumers and Nissan is poised for sustained, profitable growth.”
Mr Ghosn also the specifics of the company’s three-year business plan, Nissan Value-Up, which began on April 1.
The plan aims to maintain the top level of operating profit margin among global automakers for each of the three years of the plan; achieve global sales of 4.2 million units; and achieve a 20% return on invested capital on average over the course of the plan.
Nissan is looking to expand its presence worldwide under the new business plan. The company plans to launch the Infiniti model, which is currently marketed in North America, Taiwan and the Middle East, as a global one-tier luxury brand and there are plans to expand the brand into Korea, China and Russia.
Nissan also announced that, through the end of fiscal year 2007, all new Nissan and Infiniti models would be launched globally.
Mr Ghosn said: “The story of Nissan’s revival is now complete. Nissan Value-Up is a clear plan with specific commitments. Within this framework for action, we will create more value for more customers, employees and shareholders in more world markets than ever before.”
(KMcA/SP)
Nissan reported that its consolidated net revenues increased by 15.4% to 8.576 trillion yen. Operating profit also increased by 4,4% to a record 861.2 billion yen and the operating profit margin came to 10%, the top level among global automakers, the company stated. Nissan’s ordinary profit also increased by 5.7% to 855.7 billion.
Nissan reported record sales of 3,388,000 vehicles in the last fiscal year, an increase of 10.8%. The company also reported that sales in the United States have increased by 18.4%, topping the one million mark for the first time with sales of 1,013,000. Sales also increased by 1.4% in Japan and by 19.5% in general overseas markets including China, Mexico and Canada. However, the company reported that sales remained “flat” in Europe at 544,000 vehicles.
Commenting on the results, Nissan President and CEO Carlos Ghosn said: “Last year, Nissan rose to the challenge and delivered a record performance despite many headwinds, such as unfavourable exchange rates, higher commodity prices, higher incentives and higher interest rates. The fundamentals of the business are strong, our products are attractive to consumers and Nissan is poised for sustained, profitable growth.”
Mr Ghosn also the specifics of the company’s three-year business plan, Nissan Value-Up, which began on April 1.
The plan aims to maintain the top level of operating profit margin among global automakers for each of the three years of the plan; achieve global sales of 4.2 million units; and achieve a 20% return on invested capital on average over the course of the plan.
Nissan is looking to expand its presence worldwide under the new business plan. The company plans to launch the Infiniti model, which is currently marketed in North America, Taiwan and the Middle East, as a global one-tier luxury brand and there are plans to expand the brand into Korea, China and Russia.
Nissan also announced that, through the end of fiscal year 2007, all new Nissan and Infiniti models would be launched globally.
Mr Ghosn said: “The story of Nissan’s revival is now complete. Nissan Value-Up is a clear plan with specific commitments. Within this framework for action, we will create more value for more customers, employees and shareholders in more world markets than ever before.”
(KMcA/SP)
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