• News
  • Guides
  • Reviews
  • Media
  • About
  • News
  • Guides
  • Reviews
  • Media
  • About
Sign up Now (For Free)

Sign up for our newsletter and receive the latest automotive news in your inbox!

Invalid email address
We promise not to spam you. You can unsubscribe at any time.
Thanks for subscribing!
News
Read Now
  • All News
  • Automakers
  • Automobiles
  • Auto Shows
  • Business
  • EVs & Environment
  • Guides
  • Lawsuits/Legal
  • Regulatory
  • Ride-Sharing
  • Safety & Recalls
  • Technology
Recent
  • The End of an Era for Rolls-Royce
  • South Carolina Provides $1.29 Billion Incentive for new Scout Factory
  • Hyundai and Kia Criticized about Stolen Car Problems by Attorneys General
  • Dodge Rolls Out Final “Last Call” Model: a 1,025-Hp Challenger SRT Demon 170
  • Acura’s New Integra Type S Launching with 320 Hp
  • First Look: Ferrari Roma Spider
  • What do Americans Think of EV Ownership Today?
  • Challenger Fain Edges Closer to UAW Presidency
  • Week Ahead: All About the Cars — Except for the UAW Part
  • The Rearview Mirror: Birth of a Sports Car Legend
Editor’s Choice
    Reviews
    Read Now
    • All Reviews
      • Feeder
    • Classic Cars
    • Concept Cars
    • Convertibles
    • Coupes
    • Crossovers/CUVs
    • Diesel
    • Hot hatches
    • Hybrids
    • Luxury Vehicles
    • Minivans
    • Muscle Cars
    • Pickups
    • Sedans
    • Sports Cars
    • Super Cars
    • SUVs
    Recent Reviews
    • First Drive: 2023 Genesis Electrified GV70
    • First Drive: 2023 Nissan Ariya e-4orce AWD
    • A Week With: 2023 Jeep Compass Limited
    • A Week With: 2023 Cadillac Escalade V-Series
    • A Week With: 2023 Volvo XC40 AWD Ultimate
    • First Drive: 2024 Subaru Crosstrek
    • First Drive: 2023 Lexus RZ 450e
    • A Week With: 2023 Toyota GR Supra 3.0 Manual
    • First Impression: 2024 Volkswagen ID.Buzz
    • A Week With: 2023 Chevrolet Blazer RS AWD
    Editor’s Choice
      Guides
      Car Warranty
      • Endurance Warranty Reviews
      • BMW Extended Warranty
      • Extended Warranty For Cars Over 100k Miles
      • Extended Car Warranty Cost
      • Subaru Extended Warranty
      • CarShield Reviews
      • CarShield Cost
      • Aftermarket Car Warranty
      • CARCHEX Warranty Reviews
      • Reputable Extended Car Warranty Companies
      • Used Car Warranty Companies
      • Best Car Warranty
      • Is CarShield A Scam?
      • Mercedes Extended Warranty
      • CarShield Plans
      Insurance
      • How To Identify A Car Insurance Company
      • Geico Mechanical Breakdown Insurance
      • How Far Back Does A Car Insurance Company Look
      • Mechanical Breakdown Insurance For Used Cars
      • State Farm Mechanical Breakdown Insurance
      • Mechanical Breakdown Insurance From Progressive
      • Dollar A Day Insurance
      • Auto Insurance For SSI Recipients
      • Car Insurance Rates After A Suspended License
      • Auto Insurance For Salvage Vehicles
      • Average Cost of Dodge Ram 1500 Car Insurance
      • Car Insurance Florida
      • Full Coverage Auto Insurance
      • GrubHub Insurance
      • Amazon Delivery Auto Insurance
      Shipping
      • Car Shipping Companies
      • uShip Reviews
      • Auto Shipping From California To Hawaii
      • Montway Auto Transport Reviews
      • Cheap Car Shipping
      • Easy Auto Ship Reviews
      • Auto Shipping Miami
      • Auto Shipping To Alaska
      • Car Shipping Cost
      • Auto Shipping Hawaii
      • Auto Shipping Puerto Rico
      • Sherpa Auto Transport Reviews
      • Auto Shipping Atlanta
      • Auto Shipping Boston
      • Auto Shipping. Chicago
      About
      • About Us
      • Contact Us
      • Terms of Use
      • Privacy Policy
      • Affiliate Disclosure
      • Sitemap
      TheDetroitBureau.com

      More than just “another” place to find news, reviews, spy shots, commentary, features, and guides about the auto industry. TheDetroitBureau doesn’t stop with the press releases or confuse a few lines of opinion with insightful, in-depth reporting.

      Contact Us

      Like what you see? Have some ideas for making The Detroit Bureau.com even better? Let us know, we’d love to hear your voice.

        Media
        Listen Now
        • Headlight News: All Episodes
        More from TheDetroitBureau
        • Guides
        • Latest News
        • Auto Reviews
        • Podcasts
        Headlight News

        TheDetroitBureau.com’s Headlight News offers a look at the past week’s top automotive news stories, as well as what’s coming up in the week ahead. Check out the week’s top story and our latest review…along with a dive into the past with this week in automotive history.

        home > news > Earnings and financials > Nissan Grows Revenue, Posts Profit for First Half of Fiscal Year

        Nissan Grows Revenue, Posts Profit for First Half of Fiscal Year

        Company revises full-year guidance upward despite lingering challenges.

        Joseph Szczesny
        Joseph Szczesny , Executive Editor
        Nov. 11, 2022

        Nissan’s net income dropped during the first half of the Japanese automaker’s fiscal year, but the company posted a double-digit increase in revenue and revised upward its revenue and profit outlook for the full year despite some stiff headwinds.

        Nissan's Uchida H1 earnings 2022 REL
        Nissan CEO Makoto Uchida said the company saw revenue rise during the first half of the year.

        Consolidated net revenue increased by 15.3%, with consolidated operating profit, rising 12.3% an operating profit margin of 3.4%, slightly less than the 3.5% margin posted in the first six months of the previous fiscal year.

        Net income dropped by 62% to 64.5 billion yen or $454 million dollars.

        Headed in right direction

        Nissan CEO Makoto Uchida said: “Our strong first half performance reflects our steadily improving profit structure and strong business foundations, as well as the exchange-rate impact of the historically weak yen. We achieved this encouraging result even though the business environment became more challenging due to the ongoing shortage of semiconductors and soaring raw material prices.

        “In this environment, all Nissan employees worked together to maintain financial discipline and improve quality of sales. In addition, our newly introduced models have been very well received by customers in their respective regions.” 

        Nissan COO Gupta H1 earnings REL
        Nissan COO Ashwani Gupta makes a point during the company’s earnings presentation.

        He noted Nissan expects the business environment to remain challenging in the second half, we aim to achieve our upwardly revised forecast by continuing to implement the Nissan NEXT business transformation plan.”

        Challenges ahead

        The increased revenue and operating profit were achieved despite a severe business environment in the first half of the fiscal year, with raw material prices rising sharply and sales volume falling below the previous year’s level due to semiconductor supply shortages and the impact of COVID-related lockdowns in Shanghai, China, Nissan said in the half-year financial report.

        Through steady implementation of the Nissan NEXT transformation plan, the company improved net revenue per unit by continuing to improve the quality of sales in each market and reducing selling expenses. The improved performance over the previous fiscal year also reflected recent exchange rates and a weaker than expected yen, the report said.

        Nissan H1 earnings Uchida smirk REL
        CEO Uchida announced the company revised its full-year guidance upward.

        For the 12-month period to March 31, 2023, Nissan also expects sales to decrease by 7.5% over the previous forecast to 3.7 million units, and the company expects to face continued shortages of semiconductor supply and increasing raw material prices. 

        Despite these challenges, Nissan officials said the company will continue to introduce new models and improve the quality of sales. In addition, due to recent fluctuations in foreign exchange rates and the significant weakening of the yen, Nissan has revised its exchange rate assumptions accordingly.

        Despite the challenges, Nissan revised its full year forecast for fiscal 2022 upward.

        The revised forecast reflects a 900 billion yen, or $6.33 billion, increase in net revenue and a 110 billion yen, or $773 million, increase in operating profit compared with the previous forecast.

        This revision factors in an extraordinary loss of approximately 100 billion yen equals $705 million expected to be incurred in connection with the withdrawal of Renault-Nissan Alliance from the Russian market. The loss represents Nissan’s share of the write down.

        How to Care for Your Car

        Cheap Car Warranty

        Editor's Choice

        Best Extended Car Warranty

        Editor's Choice
        Recently Published
        2023 Rolls-Royce Black Badge Wraith Black Arrow nose REL

        The End of an Era for Rolls-Royce

        Yesterday
        Scout in neon on grille

        South Carolina Provides $1.29 Billion Incentive for new Scout Factory

        Yesterday
        2018 Hyundai Sonata front

        Hyundai and Kia Criticized about Stolen Car Problems by Attorneys General

        Yesterday

        Leave a Reply Cancel reply

        Your email address will not be published. Required fields are marked *

        Share this article:
        © The Detroit Bureau 2023
        • Guides
        • Privacy Policy
        • Terms of Use
        • Affiliate Disclosure
        • Contact Us
        • Sitemap
        Follow Us: