YOKOHAMA, Japan – Nissan Motor Co., Ltd. today announced a revision to its financial outlook for the first half of fiscal year 2025, that was issued with its first-quarter results on July 30 and provided updated full-year guidance for the fiscal year ending March 31, 2026.
First-half revision driven by one-off factors
Nissan expects to report an operating profit of 50 billion yen for the three-month period to September 30, 2025, and an operating loss of 30 billion yen for the first six months of the fiscal year.
The revised operating profit outlook represents an anticipated margin of 1.8% for the second quarter and a negative first-half margin of 0.5.
The net revenue outlook is unchanged for both the second quarter and first half at 2.8 trillion yen and 5.5 trillion yen respectively.
Stronger-than-expected first-half results were supported by one-time benefits, including lower costs related to emission regulations. Additionally, some project expenses originally planned for first half were deferred to the second half, as Nissan prioritized initiatives aimed at accelerating cost savings under Re:Nissan plan.
TSE report basis – China JV equity basis（From April 1 to September 30, 2025）
| Yen in billions | Previous outlook | Revised outlook | Variance vs previous outlook |
|
| Net Revenue | First half | 5,500 | 5,500 | 0 |
| Second quarter | 2,800 | 2,800 | 0 | |
| Operating profit | First half | -180 | -30 | +150 |
| Second quarter | -100 | 50 | +150 | |
Full-year outlook remains cautious
For the full fiscal year, Nissan expects to report an operating loss of ¥275 billion on revenue of ¥11.7 trillion, reflecting anticipated challenges in the second half due to supply chain risks, foreign exchange volatility, tariffs, and other external factors.
The company has filed the following fiscal year forecast to the Tokyo Stock Exchange. Calculated under the equity accounting method for Nissan’s joint venture in China, the forecast for the fiscal year ending March 31, 2026, are:
| FY2025 outlook TSE report basis – China JV equity basis (yen in billions) |
|
| Net revenue | 11,700 |
| Operating profit | -275 |
| Net income | TBD |
Chief Financial Officer Jeremie Papin said: “While our first-half results reflect temporary benefits and payback from cost-saving initiatives, we anticipate ongoing challenging competitive environment in the second half, supply chain risks and the seasonality of business.
Our priority remains disciplined execution, strong cash flow management, and safeguarding profitability as we navigate these headwinds. We are committed to maintaining transparency and delivering on the objectives of Re:Nissan.”
Nissan will publish the results for first half of fiscal 2025 on November 6.
*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.
