Nissan Motor Co., Ltd. · TSE:7201
Nissan Motor — Q2 2023 Earnings Presentation
32 slides from Nissan Motor's earnings presentation, Nov 9, 2023
Slide 1: FY2023 First-Quarter Financial Results
NISSAN MOTOR CORPORATION FY2023 FI RST-QUART ER FINANCIAL RESULTS July 26!, 2023
Slide 2: Q1 Highlights
Q1 Highlights Delivering continued performance Net Revenue Operating profit Net income +37% +98% +124% year on year year on year year on year NISSAN A
Slide 3: FY2023 Q1 Financial Results, FY2023 Outlook, China Status Update
| FY2023 Q1 Financial Results 2 FY2023 Outlook 3 China Status Update
Slide 4: FY2023 Q1 Financial Results
FY2023 Q1 Financial Results
Slide 5: FY23 Q1 Volume Results
FY23 Q1 Volume Results (Tewene) anit Retail Sales Production +4.4% -3.7% _— 848 819 vs. FY22 Q1 812 vs. FY22 QI —— 789 CHINA , cana -45.8% (Excluding oO xcluding u : DFAC’) (36.8%) DFAC*) JAPAN +19.1% NORTH +33.1% | EXCLUDING AMERICA ari EXCHUDING +30.5% +204% CHINA EUROPE +7.2% 116 OTHERS +2.4% FY2
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Slide 11: FY23 Q1 Financial Performance (Equity Basis)
FY23 Q1 Financial Performance (Equity Basis) NISSAN MOTOR CORPORATION (Billion Yen) FY22 Q1 FY23 Q1 Variance Net Revenue 2,137.3 29177 +780.4 Operating Profit 64.9 128.6 +63.7 OP Margin 3.0% 4.4% +1.4 points Non-operating"! 39.1 38.0 Ordinary Profit 104.0 166.6 +62.6 Extraordinary 16 -37.4 Profit Be
Slide 12: FY23 Q1 Financial Performance: Operating Profit Variance Analysis
FY23 Q1 Financial Performance (Equity Basis) Operating Profit Variance Analysis FY23 Q1 vs. Previous Year (Billion Yen) +160.7 -19.2 -829 128.6 64.9 +2.2 +2.9 : Sales Monozukuri FY22Q1 Forex Raw Materials Performance Cost Others FY23 Q1 Breakdown | Volume/Mix +1158 | Manufacturing +11.2 | Sales Fina
Slide 13: FY2023 Outlook
2? FY2023 Outlook
Slide 14: FY23 Volume Outlook
FY23 Volume Outlook Retail Sales (Thousand units) vs. Previous vs. FY22 Outlook 3,700 GLOBAL +12.0% -75% 3,305 CHINA -23.4% (Excluding DFAC*) (15.4%) “29.2% JAPAN +14.5% +2.0% NORTH +33,9% +3.8% | EXCLUDING AMERICA CHINA: +1,0% EUROPE +29.9% +2.6% 308 ATA 650 OTHERS +28.7% 6.2% FY22 Actual FY23 Prev
Slide 15: FY23 Outlook (Equity Basis)
FY23 Outlook (Equity Basis) FY23 FY23 Variance FY22 Previous Revised Variance vs Previous (Billion Yen) Actual Outlook Outlook vs FY22 Outlook Net Revenue 10,596.7 12,400.0 12,600.0 +2,003.3 +200.0 Operating Profit 377.1 520.0 550.0 +172.9 +30.0 OP Margin 3.6% 4.2% 44% +0.8 points +0.2 points Net In
Slide 16: China Status Update
Ls 3 China Status Update |
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Slide 18: China Status Update: Performance recovery with new models
China Status Update Performance recovery with introduction of new models 2@ro€mission @-POWER Nissan Nissan Ariya 500 X-TRAIL e-POWER Guly) (May) PHEV Venucia All-New V-Online DD-i Nissan Qashqai (uly) (August) NISSAN i is iaroR Coneonarion ‘8 ms
Slide 19: China Status Update: 20-years JV experience
China Status Update 20-years JV experience NISSAN MOTOR CORPORATION Leveraging local existing assets Design-to-market Time-to-market Full Value Chain
Slide 20: Appendix
Slide 21: ■ ■ 0.0 0.9 0.8 0.0 08 70 700 0 0.7 200 60 600
■ ■ 300 100 100 00 1 0.0 1 90 900 0 0.9 250 80 800 0 0.8 0.0 08 70 700 0 0.7 200 60 600 0 0.6 0.0 06 150 50 500 0 0.5 40 400 0 0.4 0.0 04 100 30 300 0 0.3 20 200 0 0.2 0.0 02 50 10 100 0 0.1 0 0 0 0 0 • • • • •
Slide 22: Sales Financing
Sales Financing . | Oe Penetration Retail DNAF (Retail) DNFL (Lease) NFS NMAC NCF NRFM FY22 Q1 FY23 Q1 FY22 Q1 FY23 Q1 FY22 Q1 FY23 Q1 FY22 Q1 FY23 Q1 FY22 Q1 FY23 Q1 NFS: Nissan Financial Services, sales finance company in Japan NRFM: NR Finance Mexico, sales finance company in Mexico NMAC: Nissan
Slide 23: Sales Financing: Net Credit Loss Ratio
Sales Financing Net Credit Loss Ratio DNAF/DNFL* Lease _ Retail Total Lease Retail Total Lease _ Retail Total FY22 Q1 0.01% 0.07% 0,06% -0.84% 0.18% -0.23% -0.03% 0.06% 0.02% FY23Q1 0.01% 0,06% 0.05% -0.16% 0.39% 0.18% 0.01% 0.04% 0.02% Lease _ Retail Total 1.40% 0.18% 0.31% 1.10% 068% 0.73% Varianc
Slide 24: Sales Financing: Operating Profit & Asset
Sales Financing Operating Profit & Asset NFS NMAC NCF NRFM DNAF/DNFL (Billion JPY) (Million USD) (Million CAD) (Million MXN) (Million CNY) Asset OP Asset OP Asset OP Asset OP Asset OP FY22 Q1 1,303.2 9.0 37,589 345 7394 67 78,412 1,124 67,732 742 FY23 Q1 1,370.2 8.6 39,482 376 6,693 55 89,942 1,263
Slide 25: FY23 Q1 Sales Performance
FY23 Q1 Sales Performance TIV (Million units) Retail Volume (Thousand units) vs. FY22 Q1 -3.7% 819 vs. FY22 Q1 CHINA -10% CHINA -45,8% (Excluding DFAC*) — (-36.8%) JAPAN +20.2% JAPAN +19.1% NORTH +16.5% AMERICA (7-196) es) NORTH 433,196 AMERICA (331404) EUROPE +19,3% (us) (Excluding Russia) (+16.79)
Slide 26: FY23 Q1 Consolidated Sales Volume (Equity Basis)
FY23 Q1 Consolidated Sales Volume (Equity Basis) NISSAN MOTOR CORPORATION 95 +25.5% a FY22Q1 JAPAN NORTH AMERICA EUROPE ASIA OTHERS (Thousand units) vs. FY22 Q1 +18,6% +50.6% +24.5% -22.6% +2.2%
Slide 27: Operating Profit Variance Analysis: Forex
FY23 Q1 Financial Performance (Equity Basis) Operating Profit Variance Analysis: Forex Currency FY22 Q1 FY23 Q1 OP Impact (vs JPY) Rate Rate (Billion Yen) USD 129.7 1375 343 GBP 163.1 172.1 17 MXN 65 78 -2.1 EGP 70 44 -2.4 THB 3.8 4.0 -2.5 TRY 8.2 6.6 -47 CNY 18.3 19.3 -5.0 ARS 11 0.6 -10.9 Others =
Slide 28: Operating Profit Variance Analysis: Sales Performance
FY23 Q1 Financial Performance (Equity Basis) Operating Profit Variance Analysis: Sales Performance (Billion Yen) Volume’! Mix Incentives? Total se Japan 45 76 -2.0 10.1 = US 95.8 -18 -25.7 68.2 3 Europe 143 48 -78 1.4 2 MEX/CAN 15.7 79 -2.5 21.1 > Others 9.2 24 24 5.0 Total 139.5 16.4 -40,0 115.8 5
Slide 29: Automotive Free Cash Flow
FY23 Q1 Financial Performance (Equity Basis) Automotive Free Cash Flow (Billion Yen) ai Net Cash Inflow From P&L Items +133.3 AP/AR +135.6 Inventory 19 Working Capital +63,7 Tax/Other Operating Activities +1.2 Cash Flow From Operating Activities +198.2 Capex’! -91.7 Others +2.9 Automotive Free Cash
Slide 30: Inventory Status (Excluding China JV)
Inventory Status (Excluding China JV) (Thousand units) 850 800 570 470 380 390 330 no g #728 FY18 Q4 FY19 Q4 FY20 Q4 FY21 Q4 FY22 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY23 Q1 Il Dealer inventory, except some minor countries Consolidated Nissan inventory, except some minor countries NISSAN MOTOR CORPORATION T
Slide 31: Net Cash by Business Segment (Equity Basis)
Net Cash by Business Segment (Equity Basis) As of March 31, 2023 As of June 30, 2023 Automobile & Sales fatal Automobile & Sales fatal Eliminations Financing ora Eliminations Financing ora (Billion Yen) Borrowings From Third Parties 2,144.0 4,895.1 7,039.1 2,194.6 5,193.3 73879 Internal Loan to Sale
Slide 32: Forward-looking statements disclaimer
This presentation contains forward-looking statements, based on judgments and estimates that have been made on the basis of currently available information. By nature, such statements are subject to uncertainty and risk. Therefore, you are advised that the final results might be significantly differ