FY2022 Consolidated Financial Results (Japanese Accounting Standards)
May 11, 2023 | ||
Company name : | Nissan Motor Co., Ltd. | |
Code no : | 7201 | (URL https://www.nissan-global.com/EN/IR/) |
Representative : | Makoto Uchida, Representative Executive Officer, President and Chief Executive Officer | |
Contact person : | Noriyuki Inagaki, Senior Manager, IR Department | Tel. (045) 523 - 5523 |
Scheduled date of the general meeting of shareholders : To be determined | Scheduled date of payment of cash dividends : To be determined |
Scheduled date of filing Yukashoken-Houkokusho : To be determined | |
The additional materials of the Financial Results for FY2022 : Yes | |
The briefing session of the Financial Results for FY2022 : Yes | |
(Amounts less than one million yen are rounded) |
1. Consolidated Financial Results for FY2022 (April 1, 2022 through March 31, 2023) <1> Consolidated operating results
(Percent indications show percentage of changes from corresponding figures for the previous period.)
Net sales | Operating income | Ordinary income | Net income attributable to | ||||||||||||||
owners of parent | |||||||||||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||||||||||
FY2022 | 10,596,695 | 25.8 | 377,109 | 52.5 | 515,443 | 68.4 | 221,900 | 3.0 | |||||||||
FY2021 | 8,424,585 | 7.1 | 247,307 | ― | 306,117 | ― | 215,533 | ― | |||||||||
Note: Comprehensive income : | 606,837 million yen for FY2022, (12.0)% : 689,621 million yen for FY2021, -% | ||||||||||||||||
Basic earnings | Diluted earnings | Rate of return | Ordinary income as a | Operating income as a | |||||||||||||
percentage of total | percentage of net | ||||||||||||||||
per share | per share | on equity | |||||||||||||||
assets | sales | ||||||||||||||||
yen | yen | % | % | % | |||||||||||||
FY2022 | 56.67 | 56.67 | 4.6 | 3.0 | 3.6 | ||||||||||||
FY2021 | 55.07 | 55.07 | 5.1 | 1.9 | 2.9 | ||||||||||||
Reference: Equity in earnings (losses) of affiliates : 171,275 million yen for FY2022, 94,302 million yen for FY2021 | |||||||||||||||||
<2> Consolidated financial position | |||||||||||||||||
Total assets | Net assets | Net assets as | |||||||||||||||
a percentage of | Net assets per share | ||||||||||||||||
total assets | |||||||||||||||||
Millions of yen | Millions of yen | % | yen | ||||||||||||||
FY2022 | 17,598,581 | 5,615,140 | 29.2 | 1,310.74 | |||||||||||||
FY2021 | 16,371,481 | 5,029,584 | 28.0 | 1,170.17 | |||||||||||||
Reference: Net assets excluding share subscription rights and non-controlling interests: 5,134,649 million yen as of March 31, 2023, | |||||||||||||||||
4,580,601 million yen as of March 31, 2022 | |||||||||||||||||
<3> Consolidated cash flows | |||||||||||||||||
Cash flows from | Cash flows from | Cash flows from | Cash and cash | ||||||||||||||
equivalents | |||||||||||||||||
operating activities | investing activities | financing activities | |||||||||||||||
at the end of period | |||||||||||||||||
Millions of yen | Millions of yen | Millions of yen | Millions of yen | ||||||||||||||
FY2022 | 1,221,051 | (447,041) | (670,607) | 2,014,387 | |||||||||||||
FY2021 | 847,187 | (146,835) | (1,092,645) | 1,792,692 | |||||||||||||
2. Dividends | |||||||||||||||||
Annual cash dividends per share | Total cash | Payout ratio | Cash dividends | ||||||||||||||
dividends | as a percentage | ||||||||||||||||
of net assets | |||||||||||||||||
at 1st quarter end | at 2nd quarter end | at 3rd quarter end | at fiscal year end | Total | (Annual) | (Consolidated) | |||||||||||
(Consolidated) | |||||||||||||||||
yen | yen | yen | yen | yen | Millions of yen | % | % | ||||||||||
FY2021 | ― | 0.00 | ― | 5.00 | 5.00 | 19,573 | 9.1 | 0.5 | |||||||||
FY2022 | ― | 0.00 | ― | 10.00 | 10.00 | 39,174 | 17.6 | 0.8 | |||||||||
FY2023 forecast | ― | ― | ― | ― | 15.00 | 18.7 | |||||||||||
Note: For FY2023 forecast, allocation of cash dividends per share between 2nd quarter end and fiscal year end has not yet been determined.
3. Forecast of consolidated operating results for FY2023 (April 1, 2023 through March 31, 2024)
(Percent indications show percentage of changes from corresponding figures for the previous period.)
Net sales | Operating income | Net income attributable to | Net income per share | ||||||
owners of parent | |||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | yen | |||
FY2023 | 12,400,000 | 17.0 | 520,000 | 37.9 | 315,000 | 42.0 | 80.41 | ||
Note: Forecast of consolidated operating results for FY2023 1st half is not prepared.
※ Notes
<1> Significant changes in scope of consolidated subsidiaries: None | |||
In : - ( Company Name : | ) | Out : - (Company Name : | ) |
<2> Changes in accounting policies, accounting estimation change and restatement
<2>-1 Changes in accounting policies due to the revision of the accounting standards: None
<2>-2 Changes in accounting policies except for those in <2>-1: None
<2>-3 Changes due to accounting estimation change: None
<2>-4 Restatement: None
<3> Number of shares issued (common stock) | |||||
<3>-1 | Number of shares issued at the fiscal year end (including treasury stocks) | FY2022 | 4,220,715,112 shares | FY2021 | 4,220,715,112 shares |
<3>-2 | Number of treasury stocks at the fiscal year end | FY2022 | 303,358,832 shares | FY2021 | 306,252,046 shares |
<3>-3 | The average number of shares issued during the fiscal year | FY2022 | 3,915,382,156 shares | FY2021 | 3,914,068,172 shares |
(Reference) Non-Consolidated Financial Results
Results of FY2022 (April 1, 2022 through March 31, 2023)
Results of non-consolidated operations for the year ended March 31, 2023
(Percent indications show percentage of changes from corresponding figures for the previous period.)
Net sales | Operating income | Ordinary income | Net income | ||||||||
Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | ||||
FY2022 | 3,240,618 | 34.5 | (238,220) | ― | 324,336 | ― | 268,296 | ― | |||
FY2021 | 2,409,348 | (3.2) | (345,235) | ― | (208,445) | ― | (114,387) | ― |
FY2022
FY2021
Net income per
share - basic
yen
63.96
(27.28)
- This Financial Results report is out of scope of Financial Audit by certified public accountants or an audit firm
- Explanation regarding the appropriate use of forecasts of business results
The financial forecast is based on judgments and estimates that have been made on the basis of currently available information.
By nature, such financial forecast is subject to uncertainty and risk. Therefore, you are advised that the final results might be significantly different from the aforementioned forecast due to changes in economic environments related to our business, market trends and exchange rate, etc.
For other remarks, please refer to "Other Information" on page 21.
Nissan Motor Co., Ltd. (7201)
FY2022 Consolidated Financial Results
【Table of content of material】
1. | Business Performance and Financial Position ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ | 2 | |
(1) | Fiscal year 2022 business performance ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ | 2 | |
(2) | Fiscal year 2022 financial position ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ | 3 | |
(3) | Fiscal year 2022 cash flows ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ | 3 | |
(4) | Fiscal year 2022 financial forecast ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ | 4 | |
2. | Basic Rationale on Selection of Accounting Standards ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ | 4 | |
3. | Consolidated Financial Statements ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ | 5 | |
(1) | Consolidated balance sheet ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ | 5 | |
(2) | Consolidated statement of income and consolidated statement of comprehensive income ・・・・・・・・ | 7 | |
Consolidated statement of income ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ | 7 | ||
Consolidated statement of comprehensive income ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ | 9 | ||
(3) | Consolidated statement of changes in net assets ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ | 10 | |
(4) | Consolidated statement of cash flows ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ | 12 | |
(5) | Notes to consolidated financial statements ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ | 14 | |
Notes to events and conditions which indicate there could be substantial doubt about going concern | 14 | ||
assumption ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ | |||
Basis of consolidated financial statements ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ | 14 | ||
Additional information ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ | 14 | ||
Segments of an enterprise and related information ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ | 15 | ||
Amounts per share ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ | 20 | ||
Significant subsequent events ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ | 20 | ||
4. | Other Information ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ | 21 |
- 1 -
Nissan Motor Co., Ltd. (7201)
FY2022 Consolidated Financial Results
1. Business Performance and Financial Position
(1) Fiscal year 2022 business performance
In fiscal year 2022, the global industry volume increased by 2.7% to 80.51 million units. The Nissan Group (the "Group")'s global sales (on a retail basis) amounted to 3,305,000 units, a 14.7% decrease from the prior fiscal year mainly due to the effect of dealer inventory reductions which resulted in increase of retail volume in the previous year, in addition to supply chain disruptions and the semiconductor supply shortage. Also, the Group's market share decreased by 0.8 points to 4.1% from the prior fiscal year.
In Japan, TIV increased by 4.0% to 4.39 million units. The Group's sales volume (on a retail basis) increased by 6.1% to 454,000 units and the Group's market share increased by 0.2 points to 10.4% from the prior fiscal year.
In China, TIV increased by 5.7% to 26.01 million units. On the other hand, the Group's sales volume (on a retail basis) decreased by 24.3% to 1,045,000 units and the Group's market share decreased by 1.6 points to 4.0% from the prior fiscal year.
In North America, including Mexico and Canada, TIV decreased by 2.6% to 16.62 million units. The Group's sales volume (on a retail basis) in North America decreased by 13.5% to 1,023,000 units from the prior fiscal year.
In the United States of America, TIV decreased by 3.5% to 13.96 million units. The Group's sales volume (on a retail basis) decreased by 14.5% to 764,000 units and the Group's market share decreased by 0.7 points to 5.5% from the prior fiscal year.
In Europe, TIV decreased by 6.1% to 14.55 million units. The Group's sales volume (on a retail basis) in Europe, excluding Russia, increased by 5.5% to 305,000 units. Also, sales volume (on a retail basis) in Russia decreased by 92.3% to 4,000 units from the prior fiscal year.
In other markets, the Group's sales volume (on a retail basis) decreased by 12.8% to 474,000 units. Sales volume (on a retail basis) in Asia and Oceania decreased by 17.9% to 156,000 units, sales volume (on a retail basis) in Latin America decreased by 19.9% to 135,000 units, sales volume (on a retail basis) in Middle East increased by 2.8% to 120,000 units and sales volume (on a retail basis) in Africa decreased by 7.9% to 63,000 units from the prior fiscal year.
Net sales in fiscal year 2022 increased by ¥2,172.1 billion (25.8%) to ¥10,596.7 billion from the prior fiscal year. Operating income totaled ¥377.1 billion, which increased by ¥129.8 billion (52.5%) from the prior fiscal year. This was mainly attributable to revenue enhancement resulting from improvements in the quality of sales, the effect of improvements in costs and expenses, and favorable foreign exchange rate fluctuations despite a decrease in profit mainly due to an increase in raw material prices and inflation.
Net non-operating income of ¥138.3 billion was recorded, increased by ¥79.5 billion from the prior fiscal year. This result was primarily attributable to the increase in earnings of affiliates. Ordinary income of ¥515.4 billion was recorded, increased by ¥209.3 (68.4%) billion from the prior fiscal year. Net special losses of ¥113.0 billion were recorded, deteriorated by ¥191.1 billion from the prior fiscal year. This was mainly due to losses on the exit from the Russian market. Income before income taxes of ¥402.4 billion was recorded, increased by ¥18.2 billion (4.7%) from the prior fiscal year. Net income attributable to owners of parent of ¥221.9 billion was recorded, increased by ¥6.4 billion (3.0%) from the prior fiscal year.
For fiscal year 2022, free cash flows in the automobile business were ¥186.7 billion positives. The Group continues to maintain healthy levels of cash in the automotive business and ended the period with an automotive net cash position of ¥1,213.2 billion.
- 2 -
Nissan Motor Co., Ltd. (7201)
FY2022 Consolidated Financial Results
- Fiscal year 2022 financial position
■Assets
Current assets have increased by 10.2% to ¥11,368.2 billion compared to March 31, 2022. This was mainly attributable to increases in cash on hand and in banks of ¥366.4 billion, merchandise and finished goods of ¥296.1 billion, sales finance receivables of ¥205.9 billion and trade notes and accounts receivable, and contract assets of ¥183.2 billion.
Fixed assets have increased by 2.9% to ¥6,224.6 billion compared to March 31, 2022. This was mainly attributable to an increase in investment securities of ¥121.9 billion.
As a result, total assets have increased by 7.5% to ¥17,598.6 billion compared to March 31, 2022.
■ Liabilities
Current liabilities have increased by 10.2% to ¥6,769.3 billion compared to March 31, 2022. This was mainly due to an increase in trade notes and accounts payable of ¥516.5 billion.
Long-term liabilities have increased by 0.3% to ¥5,214.1 billion compared to March 31, 2022. This was mainly due to an increase in long-term borrowings of ¥238.0 billion despite a decrease in bonds of ¥205.2 billion.
As a result, total liabilities have increased by 5.7% to ¥11,983.4 billion compared to March 31, 2022.
■ Net Assets
Net assets have increased by 11.6% to ¥5,615.1 billion compared to ¥5,029.6 billion as of March 31, 2022. This was mainly attributable to increases in translation adjustments of ¥401.1 billion and retained earnings of ¥204.4 billion.
- Fiscal year 2022 cash flows
Cash and cash equivalents at the end of the current fiscal year increased by ¥221.7 billion (12.4%) to ¥2,014.4 billion, due to an increase in inflows from operating activities and a decrease in outflows from financing activities despite an increase in outflows from investment activities.
■ Operating Activities
Net cash provided by operating activities increased by ¥373.9 billion to ¥1,221.1 billion in the current fiscal year from ¥847.2 billion provided in the prior fiscal year. This was mainly due to an improvement in profit and working capital. ■ Investing Activities
Net cash used in investing activities increased by ¥300.2 billion to ¥447.0 billion in the current fiscal year from ¥146.8 billion used in the prior fiscal year. While there were proceeds from sale of Daimler AG shares in the prior fiscal year, there were deconsolidation of cash impact resulting from the transfer of Nissan Manufacturing RUS, Limited Liability Company shares, a decrease in the proceeds from sales of leased vehicles and an increase in restricted cash related to asset-backed securities in the sales finance business in the current fiscal year.
■ Financing Activities
Net cash used in financing activities decreased by ¥422.0 billion to ¥670.6 billion in the current fiscal year from ¥1,092.6 billion used in the prior fiscal year. This was mainly due to a decrease in debt repayments.
- 3 -
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Nissan Motor Co. Ltd. published this content on 11 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 May 2023 07:11:09 UTC.