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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Nissan Motor Co., Ltd.    7201   JP3672400003

NISSAN MOTOR CO., LTD.

(7201)
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End-of-day quote. End-of-day quote Tokyo Stock Exchange - 01/22
555.6 JPY   -2.10%
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Japan's export credit agency to lend $2 billion to Nissan for U.S. sales financing

11/26/2020 | 12:50am EST
The logo of Nissan Motor Corp. is displayed the company's showroom in Tokyo

TOKYO (Reuters) - Japan's state-owned export credit agency has agreed to give Nissan Motor Co up to $2 billion as part of a credit agreement to help it finance car sales in the United States.

The money is part of a $4.1 billion credit agreement for Nissan Motor Acceptance Corporation, a unit of Nissan North America, Japan Bank of International Cooperation (JBIC) said in a press release on Wednesday.

The money should help the Japanese company sell cars in the world's second-biggest automarket after China by allowing it to provide customers with loans that they can repay in monthly instalments, the export credit agency added in the statement.

The United States "is an important market for Japanese automobile manufacturers. Sales finance has become an important tool in business strategy", JBIC said.

"This case provides financial support for Nissan's overseas business development," it added.

JBIC has provided loans for overseas sales financing to other automakers, including a $78 million October agreement with Honda Motor Co in Brazil, and one in September for Toyota Motor Corp in South Africa. JBIC did not disclose the amount for that deal.

The latest agreement with Nissan is more than three times as much as a $582 million loan extended by JBIC in July to help it finance car sales in Mexico.

A JBIC spokesman said the government export credit agency applied the same lending standards as private banks.

Nissan, Japan's third-largest automaker, is focusing on key markets as it pulls back from the rapid expansion led by ousted Chairman Carlos Ghosn.

It is looking to raise market share with new models in the United States, China and Japan as they rebound from a demand slump triggered by the COVID-19 pandemic.

"We have financing from a variety of different ways and JBIC is one of them," a Nissan spokeswoman said.

This month, Nissan cut its operating loss forecast for the year to March 2021 by 28%, albeit still to a record of about 340 billion yen ($3.2 billion), helped by a rebound in demand, particularly in China.

(Reporting by Tim Kelly; Editing by Himani Sarkar and Sam Holmes)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
DOW JONES AFRICA TITANS 50 INDEX 0.26% 542.9 Delayed Quote.2.22%
DOW JONES SOUTH AFRICA(ZAR) -0.48% 1875.3 Delayed Quote.6.58%
EURO / BRAZILIAN REAL (EUR/BRL) 2.24% 6.6542 Delayed Quote.1.03%
HONDA MOTOR CO., LTD. -1.40% 2851.5 End-of-day quote.-0.90%
NISSAN MOTOR CO., LTD. -2.10% 555.6 End-of-day quote.-0.79%
RENAULT -2.35% 34.42 Real-time Quote.-1.43%
S&P AFRICA 40 INDEX -0.60% 175.84 Delayed Quote.1.56%
TOYOTA INDUSTRIES CORPORATION 0.47% 8540 End-of-day quote.4.27%
TOYOTA MOTOR CORPORATION -1.08% 7660 End-of-day quote.-3.73%
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Financials
Sales 2021 7 759 B 74 762 M 74 762 M
Net income 2021 -477 548 M -4 601 M -4 601 M
Net Debt 2021 6 232 B 60 046 M 60 046 M
P/E ratio 2021 -4,56x
Yield 2021 -
Capitalization 2 174 B 20 947 M 20 947 M
EV / Sales 2021 1,08x
EV / Sales 2022 0,95x
Nbr of Employees 136 134
Free-Float 45,6%
Chart NISSAN MOTOR CO., LTD.
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Nissan Motor Co., Ltd. Technical Analysis Chart | MarketScreener
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Technical analysis trends NISSAN MOTOR CO., LTD.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 20
Average target price 567,00 JPY
Last Close Price 555,60 JPY
Spread / Highest target 166%
Spread / Average Target 2,05%
Spread / Lowest Target -40,6%
EPS Revisions
Managers and Directors
NameTitle
Makoto Uchida Executive President & Chief Executive Officer
Yasushi Kimura Chairman
Ashwani Gupta COO & Representative Executive Officer
Stephen Ma Chief Financial Officer & Executive Officer
Anthony Thomas Chief Information Officer
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