Nissan Motor Co., Ltd. · TSE:7201

Nissan Motor — FY2017 3Q YTD Earnings Presentation

18 slides from Nissan Motor's earnings presentation, Feb 8, 2018

  1. Slide 1: Nissan Motor Co., Ltd. February 8th, 2018

    Nissan Motor Co., Ltd. February ８th, 2018 (TSE REPORT BASIS — CHINA JV EQUITY BASIS) (BILLION YEN) NET OPERATING NET FREE NET CASH REVENUE PROFIT INCOME * CASH FLOW (AUTO) (AUTO) 1,311.4 8,264.8 8,528.0 1,069.7 578.1 503.2 414.2 364.2 166.1 -100.3 FY16 FY17 FY16 FY17 FY16 FY17 FY16 FY16 FY17 3Q YTD

  2. Slide 2: FY17 Sales Performance: Global

    FY17 SALES PERFORMANCE FY17 FINANCIAL PERFORMANCE FY17 OUTLOOK www.nissan-global.com © Copyright NISSAN MOTOR CO., LTD. All rights reserved. 3 GLOBAL TIV *1 RETAIL VOLUME vs. FY16 M/S*2 6.0% vs. FY16 M/S*2 5.9% 68.52 GLOBAL +2.0% 4,109 GLOBAL +2.9% 67.16 3,993 3.50 3.66 JAPAN +4.5% 378 JAPAN +9.7% 3

  3. Slide 3: Japan and China

    JAPAN TIV: 3.66 million units, +4.5% RETAIL VOLUME Sales: 378 k units, +9.7% +9.7% 378 344 (THOUSAND UNITS) Market share: 10.3%, +0.5 points Registered car  TIV: 2.36 million units, +1.4%  Sales: 252 k units, -3.4% FY16 FY17 3Q YTD 3Q YTD  Market share: 10.7%, -0.5points Mini car MARKET SHARE  T

  4. Slide 4: North America and Europe

    NORTH AMERICA US  TIV: 13.20 million units, -1.9% US RETAIL VOLUME  Sales: 1,177 k units, +1.1%  Market share: 8.9%, +0.2 points 1,164 +1.1% 1,177 (THOUSAND UNITS) FY16 3Q YTD Rogue Rogue Sport US MARKET SHARE Canada +0.2 points  TIV: 1.62 million units, +4.6% 8.7 8.9  Sales: 113 k units, +8.6%

  5. Slide 5: Other Markets

    OTHER MARKETS Sales: 607 k units, +2.0% RETAIL VOLUME  Asia & Oceania: 248 k units, -2.0% (TIV: +4.9%) 596 +2.0% 607 (THOUSAND UNITS)  Latin America: 151 k units, +14.5% (TIV: +12.4%)  Middle East: 138 k units, -6.6% (TIV: -8.9%)  Africa & others: 70 k units, +11.7% (TIV: +0.5%) FY16 3Q YTD Dats

  6. Slide 6: Financial Performance and Operating Profit Variance

    (TSE REPORT BASIS — CHINA JV EQUITY BASIS) (BILLION YEN) FY16 FY17 VARIANCE CHANGE 3Q YTD 3Q YTD vs. FY16 (%) NET REVENUE 8,264.8 8,528.0 +263.2 +3.2% OPERATING PROFIT 503.2 364.2 -139.0 -27.6% OP MARGIN 6.1% 4.3% NON-OPERATING 87.0 132.5 ORDINARY PROFIT 590.2 496.7 -93.5 -15.8% EXTRAORDINARY 1.2 -8

  7. Slide 7: Operating Profit Variance Analysis

    (TSE REPORT BASIS — CHINA JV EQUITY BASIS) OPERATING PROFIT VARIANCE ANALYSIS (BILLION YEN) -8.9 +3.0 -33.6 -62.3 +13.6 -39.6 +42.9 -11.3 +15.1 FY16 CK *1 FY16 FOREX RAW VOLUME MARKETING COST *2 R&D OTHER FY17 ONE TIME *3 FY17 SCOPE MATERIAL /MIX & ITEMS /MFG ITEMS ITEM 3Q CHANGE 3Q SELLING EXP. EXP

  8. Slide 8: Free Cash Flow (Auto Business)

    (TSE REPORT BASIS — CHINA JV EQUITY BASIS) FREE CASH FLOW (AUTO BUSINESS) (BILLION YEN) +241.7 -374.4 +523.9 -217.2 174.0 -274.8 -100.3 +0.5 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

  9. Slide 9: Financial Results (Management Pro Forma Basis)

    (TSE REPORT BASIS — CHINA JV EQUITY BASIS ) 2016 2017 (BILLION YEN) (BILLION YEN) 2,000 2,000 1,500 1,500 1,000 1,000 500 500 0 0 FX: JPY/USD FX: JPY/USD END OF MONTH 112.7 102.9 101.1 116.5 END OF MONTH 112.2 112.0 112.7 113.0 www.nissan-global.com © Copyright NISSAN MOTOR CO., LTD. All rights rese

  10. Slide 10: FY17 Outlook: Retail Volume

    FY17 SALES PERFORMANCE FY17 FINANCIAL PERFORMANCE FY17 OUTLOOK www.nissan-global.com © Copyright NISSAN MOTOR CO., LTD. All rights reserved. 19 RETAIL VOLUME vs ORIGINAL * vs. FY16 OUTLOOK 5,830 5,780 GLOBAL +2.7% -0.9% 5,626 595 575 JAPAN +3.2% -3.4% 557 1,480 1,520 CHINA +12.2% +2.7% 1,355 2,130 2

  11. Slide 11: Revised FY17 Outlook

    (TSE REPORT BASIS — CHINA JV EQUITY BASIS) VARIANCE FY17 FY17 vs. (BILLION YEN) PREVIOUS REVISED PREVIOUS OUTLOOK*1 OUTLOOK OUTLOOK*1 RETAIL VOLUME (K. units) 5,830 5,780 -50 NET REVENUE 11,800.0 11,800.0 0.0 OPERATING PROFIT 645.0 565.0 -80.0 OP MARGIN 5.5% 4.8% -0.7% NET INCOME *2 535.0 705.0 +170

  12. Slide 12: FY17 Outlook and Dividend per Share

    (TSE REPORT BASIS — CHINA JV EQUITY BASIS) FY17 FY17 FY17 (BILLION YEN) 3Q YTD 4Q QTD FULL YEAR ACTUAL OUTLOOK *1 OUTLOOK *1 RETAIL VOLUME (K. units) 4,109 1,671 5,780 NET REVENUE 8,528.0 3,272.0 11,800.0 OPERATING PROFIT 364.2 200.8 565.0 OP MARGIN 4.3% 6.1% 4.8% NET INCOME *2 578.1 126.9 705.0 NET

  13. Slide 13: Appendix: Total Funding Amount

    Appendix (AS OF DECEMBER 2017) TOTAL FUNDING AMOUNT: 10,452 BILLION YEN Group Finance Equity (Inter-Company) 13.5% 9.3% Commercial Paper ABS Off B/S 6.4% 1.1% S/T Loan 4.7% ABS On B/S 25.4% L/T Loan 20.4% Bonds 19.2% www.nissan-global.com © Copyright NISSAN MOTOR CO., LTD. All rights reserved. 26

  14. Slide 14: Net Credit Loss Ratio

    (%) NFS NMAC NCF NRFM 100 90 80 70 60 33% 34% 50 29% 30% 40 6% 5% 30 49% 48% 42% 38% 20 31% 30% 34% 32% 10 0 FY16 FY17 FY16 FY17 FY16 FY17 FY16 FY17 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

  15. Slide 15: Operating Profit & Asset

    OPERATING PROFIT & ASSET (NFS : billion yen, NMAC : million USD, NCF : million CAD, NRFM : million Peso) FY16 FY17 VARIANCE 3Q YTD 3Q YTD Asset: 1,104.5 Asset: 1,308.4 Asset: +203.9 NFS OP: 22.0 OP: 23.9 OP: +1.9 Asset: 63,137 Asset: 66,299 Asset: +3,162 NMAC OP: 642 OP: 679 OP: +37 Asset: 6,657 Ass

  16. Slide 16: Third Quarter Sales and Results

    GLOBAL TIV *1 RETAIL VOLUME vs. FY16 M/S*2 6.1% M/S*2 6.0% vs. FY16 GLOBAL +2.2% 1,380 1,375 GLOBAL -0.3% 22.47 22.97 133 95 JAPAN -28.9% 1.19 1.17 JAPAN -1.7% 6.48 CHINA +3.7% 319 369 CHINA +15.7% 6.28 NORTH -2.4% 5.36 5.23 AMERICA NORTH (4.36) (US) (-1.6%) 534 -1.4% (4.43) 526 AMERICA (381) (397)

  17. Slide 17: Operating Profit Variance Analysis (Third Quarter)

    (TSE REPORT BASIS — CHINA JV EQUITY BASIS) OPERATING PROFIT VARIANCE ANALYSIS (BILLION YEN) FOREIGN EXCHANGE VOLUME SELLING IMPACT /MIX EXPENSES +3.0 -62.3 +15.1 USD +13.6 (109.4 ⇒ 113.0) JPN -4.1 VOL*: -2.7 JPN +0.8 INCENTIVES: +4.9 MIX: -1.4 OTHERS: -4.1 EUR* -9.4 US -44.9 VOL*: -50.9 US +3.1 INCE

  18. Slide 18: Borrowings and Net Cash

    (TSE REPORT BASIS — CHINA JV EQUITY BASIS) AS OF MARCH 31, 2017 AS OF DECEMBER 31, 2017 (BILLION YEN) AUTOMOBILE AUTOMOBILE SALES SALES & TOTAL & TOTAL FINANCING FINANCING ELIMINATIONS ELIMINATIONS BORROWINGS FROM 861.9 6,905.8 7,767.7 849.3 7,954.7 8,804.0 THIRD PARTIES INTERNAL LOAN TO SALES -1,30

Nissan Motor — FY2017 3Q YTD Earnings Presentation on 6ix