- Full year operating profit of 69.8 billion yen
- Negative free cash flow of 242.8 billion yen and operating loss of 215.9 billion yen in the automotive business for the full year
- FY25 forecast to be determined due to uncertainty from potential impact of the tariff.
Nissan Motor Co., Ltd. today announced financial results for the full year and the fourth quarter of fiscal year 2024, ending March 31, 2025.
Full year financial results
In FY2024, global sales remained at 3.346 million units impacted by intensified sales competition. Nissan’s consolidated net revenue was 12.6 trillion yen, resulting in an operating profit of 69.8 billion yen with an operating margin of 0.6%.
Net loss was 670.9 billion yen. While free cash flow and operating profit in the automotive business were both in negative, automotive net cash was 1.498 trillion yen.
TSE report basis – China JV equity basis
| Yen in billions | FY 2023 | FY 2024 | Variance vs FY23 |
| Revenue | 12,685.7 | 12,633.2 | -52.5 |
| Operating profit | 568.7 | 69.8 | -498.9 |
| Operating margin % | 4.5% | 0.6% | -3.9 pt |
| Ordinary profit | 702.2 | 210.2 | -492.0 |
| Net income | 426.6 | -670.9 | -1,097.5 |
Based on average foreign exchange rates of 153 JPY /USD and 164 JPY /EUR for FY2024
Fourth quarter financial highlights
In the fourth quarter of fiscal year 2024, consolidated net revenue was 3.490 trillion yen, consolidated operating profit was 5.8 billion yen, and operating profit margin was 0.2%. Net loss in the fourth quarter was 676 billion yen.
TSE report basis – China JV equity basis
| Yen in billions | FY23 4Q | FY24 4Q | Variance vs FY23 |
| Revenue | 3,514.3 | 3,490.0 | -24.3 |
| Operating profit | 90.3 | 5.8 | -84.6 |
| Net income | 101.3 | -676.0 | -777.3 |
Based on average foreign exchange rates of 153 JPY/USD and 161 JPY/EUR for FY24 Q4
FY2025 outlook
Nissan expects the business to continue be challenging with intense competition, forex and inflationary pressure. Yet, our efforts related U.S. Tariff policy under our mitigation strategy, we are prioritizing U.S.-built products, optimizing local capacity, reallocating tariff-exposed production, and working closely with suppliers to localize and adapt swiftly to market demands. Given the uncertainty related to tariff environment, the guidance for operating profit, net income and auto free cash flow for the fiscal year are currently to be determined.
The company has filed the following fiscal year forecasts with the Tokyo Stock Exchange. Calculated under the equity accounting method for Nissan’s joint venture in China, the forecasts for the fiscal year ending March 31, 2026, are:
| FY2025 outlook TSE report basis – China JV equity basis (yen in billions) | |
| Net revenue | 12,500 |
| Operating profit | TBD |
| Net income | TBD |
Annual dividend per share (yen)
| FY2024 | 0 yen |
| FY2025 (Outlook) | 0 yen |
