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Nissan reports strong financial results for fiscal year 2022

Nissan reports strong financial results for fiscal year 2022



YOKOHAMA, Japan – Nissan Motor Co., Ltd. today announced financial results for the full-year and the fourth quarter of fiscal year 2022, ending March 31, 2023.


  • Full year operating profit of 377.1 billion yen, up 52% year on year
  • Positive free cash flow and operating profit in the automotive business for the full year
  • Forecast 38% increase in operating profit for fiscal year 2023 compared to fiscal year 2022


Full-year financial results

In FY2022, despite very challenging business environment, Nissan has strengthened its business foundation by steadily implementing the key initiatives under the Nissan NEXT business transformation plan. A significant year-on-year improvement in profitability was achieved in FY2022 thanks to the continuously improving quality of sales and net revenue per unit of major new models in each market.

The prolonged shortage of semiconductors and tight supply of parts due to the shutdown in China had a sizable impact on production plans and vehicle supply, resulting in a global sales volume of 3,305,000 units.

Despite the headwinds, Nissan’s earnings have exceeded the forecast made by the company, revised upward at the first-half financial results announcement. For the full fiscal year, consolidated net revenue was 10.6 trillion yen, resulting in an operating profit of 377.1 billion yen with an operating margin of 3.6%. Net income1 was 221.9 billion yen. The fiscal year also marked Nissan’s return to positive free cash flow and operating profit for the automotive business. Automotive net cash was 1.2 trillion yen. Nissan plans to propose the payment of a year-end dividend of 10 yen per share for fiscal year 2022 at the general shareholders meeting.

TSE report basis – China JV equity basis2

Yen in billions FY 2021 FY 2022 Variance vs FY21
Revenue 8,424.6 10,596.7 +2,172.1
Operating profit 247.3 377.1 +129.8
Operating margin % 2.9% 3.6% +0.7 ppt
Ordinary profit 306.1 515.4 +209.3
Net income1 215.5 221.9 +6.4

Based on average foreign exchange rates of 136 JPY /USD and 141 JPY /EUR for FY2022

On a China joint venture proportionate basis, operating profit was 484.6 billion yen, which equates to a 4.1% operating margin and net income1 was 221.9 billion yen.


Fourth-quarter financial highlights

In the fourth quarter of fiscal year 2022, consolidated net revenue was 3.1 trillion yen, consolidated operating profit was 87.4 billion yen, and the operating profit margin was 2.8%. Net income1 in the fourth quarter was 106.9 billion yen. Compared with the same period last year, Nissan has continued to improve its profit, with significant improvements in both consolidated operating profit and net income.

TSE report basis – China JV equity basis2

Yen in billions FY21 4Q FY22 4Q Variance vs FY21
Revenue 2,270.6 3,097.0 +826.4
Operating profit 56.0 87.4 +31.4
Net income1 14.2 106.9 +92.7

Based on average foreign exchange rates of 132 JPY/USD and 142 JPY/EUR for FY22 Q4


FY2023 outlook

Nissan expects the business environment to continue to be harsh due to uncertain geopolitical risks, higher logistics and energy costs, global inflationary pressures, and concerns about an economic recession.

However, based on its strengthened business foundation due to its business transformation, Nissan aims to secure an increase in operating profit of 38% over fiscal year 2022 by improving quality of sales, enhancing product pricing, further strengthening financial discipline and control of fixed costs.

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, 2024, are:

FY2023 outlook

TSE report basis – China JV equity basis2 (yen in billions)
Net revenue 12,400.0
Operating profit 520.0
Net income1 315.0

Dividend per share (yen)

FY2022 10
FY2023 (Outlook) 15 or more

Commenting on the results, Nissan president and CEO Makoto Uchida said: “In fiscal year 2022, Nissan achieved a significant year-on-year improvement in operating profit in a challenging business environment. This is the result of our efforts to steadily strengthen our business foundation through Nissan NEXT. Although the business environment in fiscal year 2023, the final year of Nissan NEXT, is expected to become even more challenging, we aim to further improve profitability through the product competitiveness and profit structure that we have strengthened through our business transformation. We will also formulate a midterm plan to transform Nissan into a truly healthy and resilient company, aiming to achieve both sustainable growth and financial stability.”

1 Net income attributable to owners of the parent

2 Since the beginning of fiscal year 2013, Nissan has reported figures calculated under the equity method accounting for its joint venture with Dong Feng in China. Although net income reporting remains unchanged under this accounting method, the equity-accounting income statements no longer include Dong-Feng-Nissan’s results in revenues and operating profit.


*The financial forecast is based on judgements and estimates that have been made using currently available information. By nature, such financial forecast is subject to uncertainty and risk. Therefore, the final results may differ from the aforementioned forecast.


To learn more, visit https://www.nissan-global.com/EN/IR/FINANCIAL/.

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