LATEST NEWS Nissan reports strong financial results for fiscal year 2022

YOKOHAMA, Japan – (May 11, 2023) 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 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

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

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

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 businesstransformation, 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 StockExchange. Calculated under the equity accounting method for Nissan’s joint venture in China, the forecasts for the fiscal year ending March 31, 2024, are:

Dividend per share (yen)

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.”