Nissan Motor Co., Ltd. · TSE:7201

Nissan Motor — Q3 FY2018 Earnings Presentation

18 slides from Nissan Motor's earnings presentation, Feb 12, 2019

  1. Slide 1: Nissan Motor Co., Ltd. February 12th, 2019

    Nissan Motor Co., Ltd. February 12th, 2019 (TSE REPORT BASIS — CHINA JV EQUITY BASIS) (BILLION YEN) NET OPERATING NET *1 FREE NET CASH REVENUE PROFIT INCOME CASH FLOW (AUTO) (AUTO) 3,045.7 301.6 2,875.5 1,311.4 1,334.4 US TAX REFORM 207.7 103.3 82.4 70.4 *2 93.9 -340.0 -69.6 FY17 FY18 FY17 FY18 FY17

  2. Slide 2: 3Q Sales and Operating Profit Variance Analysis

    SALES PROFIT 3Q OPERATING PROFIT RETAIL SALES VOLUME DECREASED BY VARIANCE ANALYSIS 2.6%, BUT OUTPERFORMED THE MARKET (BILLION YEN) WHICH DECREASED BY 3.6% +36.7 -13.3 (THOUSAND CHANGE -25.6 UNITS) FY17 3Q FY18 3Q vs FY17 +23.1 COST *2 103.3 TIV 22,970 22,152 -3.6% ITEMS: VOLUME/ +18.0 82.4 MIX: RAW

  3. Slide 3: Global and Japan Sales Performance

    GLOBAL TIV *1 RETAIL VOLUME vs. FY17 M/S*2 6.0% vs. FY17 M/S*2 5.9% 68.52 68.74 GLOBAL +0.3% 4,109 4,023 GLOBAL -2.1% 3.66 3.73 JAPAN +2.1% 378 410 JAPAN +8.4% 19.08 19.36 CHINA +1.6% 1,020 1,096 CHINA +7.4% 15.81 NORTH -1.0% 15.97 AMERICA (13.16) (13.20) (U.S.) (-0.3%) 1,561 NORTH -8.5% (1,177) 1,4

  4. Slide 4: China and North America

    CHINA FY18 3Q YTD (Jan. to Sep.) RETAIL VOLUME *1 *2 TIV : 19.36 million units, +1.6% +7.4% 1,020 1,096 *1 (THOUSAND UNITS) Sales : 1,096 k units, +7.4% Market share: 5.7%, +0.4 point FY17 FY18 3Q YTD 3Q YTD MARKET SHARE +0.4 point X-Trail Sylphy Zero Emission 5.3 5.7 FY18 Full Year (Jan. to Dec.) T

  5. Slide 5: Europe and Other Markets

    EUROPE (INCLUDING RUSSIA) Europe excluding Russia RETAIL VOLUME  TIV: 13.39 million units, +0.3% -13.2%  Sales: 391 k units, -15.8% 544 (THOUSAND UNITS) 472  Market share: 3.0%, -0.5 point Russia  TIV: 1.40 million units, +10.2% FY17 FY18  Sales: 81 k units, +1.9% 3Q YTD 3Q YTD  Market share:

  6. Slide 6: FY18 3Q YTD Financial Performance

    FY18 SALES PERFORMANCE FY18 FINANCIAL PERFORMANCE FY18 OUTLOOK www.nissan-global.com © Copyright NISSAN MOTOR CO., LTD. All rights reserved. 11 (TSE REPORT BASIS — CHINA JV EQUITY BASIS) (BILLION YEN) FY17 FY18 VARIANCE CHANGE 3Q YTD 3Q YTD vs. FY17 (%) NET REVENUE 8,528.0 8,578.4 +50.4 +0.6% OPERAT

  7. Slide 7: Operating Profit Variance and Free Cash Flow

    (TSE REPORT BASIS — CHINA JV EQUITY BASIS) OPERATING PROFIT VARIANCE ANALYSIS (BILLION YEN) OPM: +63.9 +12.9 +3.1 -70.9 4.3% -59.5 OPM: 364.2 VOLUME/MIX: COST ITEMS:*2 3.7% -120.3 +92.0 FY17 ITEMS: SELLING EXP.: R&D/MFG EXP.: 313.7 +80.4 +133.2 -65.3 FY18 ITEM: OTHR ITEMS: -7.3 -23.6 CATCH UP ADJUST

  8. Slide 8: Inventory Status and Net Cash

    (EXCLUDING CHINA JV) INVENTORY STATUS (THOUSAND UNITS) 990 1,000 880 910 920 860 800 570 560 550 600 510 610 400 200 0 2017 2018 Dec. Mar. Jun. Sep. Dec. DEALER INVENTORY, EXCEPT SOME MINOR COUNTRIES CONSOLIDATED NISSAN INVENTORY, EXCEPT SOME MINOR COUNTRIES www.nissan-global.com © Copyright NISSAN

  9. Slide 9: Management Pro Forma Basis Results

    (MANAGEMENT PRO FORMA BASIS *1) (BILLION YEN) NET OPERATING NET *2 FREE NET CASH REVENUE PROFIT INCOME CASH FLOW (AUTO) (AUTO) 3,357.9 1,681.0 3,198.9 301.6 1,582.1 OPM: OPM: 4.3% US TAX REFORM 3.9% 207.7 123.7 144.3 *3 70.4 93.9 10.6 -264.6 FY17 F18 FY17 FY18 FY17 FY18 FY18 FY17 FY18 3Q 3Q 3Q 3Q 3Q

  10. Slide 10: FY18 Outlook Revised

    RETAIL VOLUME *1 *2 MARKET vs ORIGINAL 6.2% 6.2% 6.1% vs. FY17 OUTLOOK SHARE 5,770 5,925 5,600 GLOBAL -2.9% -5.5% 584 615 610 JAPAN +4.5% -0.8% 1,695 1,520 1,564 CHINA +2.9% -7.7% 2,091 2,030 NORTH -8.4% -5.6% (1,593) 1,916 AMERICA (1,550) (1,455) (-8.6%) (-6.1%) (US) (THOUSAND UNITS) 756 675 657 EU

  11. Slide 11: Outlook Variance and Dividend per Share

    (TSE REPORT BASIS — CHINA JV EQUITY BASIS) OPERATING PROFIT VARIANCE ANALYSIS (BILLION YEN) -130 +70 -20 -20 +10 FY18 *1 REVENUE RAW FY18 *2 R&D FOREX FY18 AND COSTS MATERIALS/ SPECIAL ITEMS INVESTMENT ORIGINAL PERFORMANCE TARIFF REVISED OUTLOOK AND OTHERS OUTLOOK *1: ORIGINAL OUTLOOK ON MAY 14, 201

  12. Slide 12: Appendix: Funding Structure

    Appendix (AS OF DECEMBER 2018) TOTAL FUNDING AMOUNT: 10,042 BILLION YEN Group Finance (Inter-Company) Equity 9.3% 16.4% Commercial Paper 4.0% S/T Loan ABS Off B/S 1.0% 3.7% L/T Loan 19.4% ABS On B/S 24.1% Bonds 22.1% www.nissan-global.com © Copyright NISSAN MOTOR CO., LTD. All rights reserved. 24

  13. Slide 13: Net Credit Loss Ratio

    (%) NFS NMAC NCF NRFM 100 90 80 70 60 38% 34% 50 30% 30% 40 5% 5% 30 48% 46% 20 38% 38% 30% 31% 32% 28% 10 0 FY17 FY18 FY17 FY18 FY17 FY18 FY17 FY18 3Q 3Q 3Q 3Q 3Q 3Q 3Q 3Q YTD YTD YTD YTD YTD YTD YTD YTD LEASE NFS: NISSAN FINANCIAL SERVICES, SALES FINANCE COMPANY IN JAPAN RETAIL NMAC: NISSAN MOTOR

  14. Slide 14: Operating Profit and Asset of Sales Finance

    OPERATING PROFIT & ASSET (NFS : billion yen, NMAC : million USD, NCF : million CAD, NRFM : million MXN) FY17 FY18 VARIANCE 3Q YTD 3Q YTD Asset: 1,308.4 Asset: 1,402.6 Asset: +94.2 NFS OP: 23.9 OP: 27.4 OP: +3.5 Asset: 66,299 Asset: 62,000 Asset: -4,299 NMAC OP: 679 OP: 784 OP: +105 Asset: 7,582 Asse

  15. Slide 15: 3Q Global Sales and Financial Results

    GLOBAL TIV *1 RETAIL VOLUME vs. FY17 M/S*2 6.0% M/S*2 6.1% vs. FY17 22.97 1,375 22.15 GLOBAL -3.6% 1,340 GLOBAL -2.6% 1.17 1.25 JAPAN +6.4% 95 125 JAPAN +32.2% 6.48 6.13 CHINA -5.4% 369 375 CHINA +1.6% 5.23 NORTH -0.7% 5.19 (4.36) (4.38) AMERICA (U.S.) (+0.5%) 526 NORTH (397) 486 -7.7% (369) AMERICA

  16. Slide 16: 3Q Operating Profit Variance Analysis

    (TSE REPORT BASIS — CHINA JV EQUITY BASIS) OPERATING PROFIT VARIANCE ANALYSIS (BILLION YEN) +36.7 -13.3 -15.4 OPM: 3.4% COST ITEMS:*2 -10.2 OPM: +23.1 +17.9 103.3 2.9% R&D/MFG EXP.: VOLUME/MIX: -17.2 82.4 +15.7 OTHER ITEMS: SELLING EXP.: -14.0 FY17 ITEM: +21.0 +39.6 FY18 ITEM: -7.3 CATCH UP ADJUSTME

  17. Slide 17: Free Cash Flow and Net Cash

    (TSE REPORT BASIS — CHINA JV EQUITY BASIS) FREE CASH FLOW (AUTO BUSINESS) (BILLION YEN) +28.0 -149.6 +163.2 -13.9 27.7 -93.8 -69.6 -3.5 NET CASH AP / AR INVENTORY TAX / CASH FLOW CAPEX* OTHERS FREE INFLOW FROM OTHER FROM CASH P&L ITEMS OPERATING OPERATING FLOW ACTIVITIES ACTIVITIES * CAPEX DOES NOT

  18. Slide 18: Forward-looking statements

    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

Nissan Motor — Q3 FY2018 Earnings Presentation on 6ix