Nissan Motor Co., Ltd. has revised its financial outlook for the first half of fiscal year 2025, previously issued with its Q1 results on July 30, and provided updated full-year guidance for the fiscal year ending March 31, 2026.
The automaker now expects to report an operating profit of ¥50 billion for the quarter ended September 30, 2025, but an operating loss of ¥30 billion for the first half of FY2025, translating to an operating margin of 1.8% for Q2 and –0.5% for the first half. Net revenue guidance remains unchanged at ¥2.8 trillion for the second quarter and ¥5.5 trillion for the first half.
First-Half Revision Driven by One-Off Factors
Nissan attributed the revision to temporary benefits, including lower emission-related costs and deferred project expenses. Some initiatives originally planned for the first half were shifted to the second half as part of the company’s Re:Nissasalesn cost-saving program.
According to the Tokyo Stock Exchange (TSE) filing, calculated under the equity accounting method for Nissan’s joint venture in China, the revised outlook shows a ¥150 billion improvement in operating profit versus the previous forecast.
| Yen in billions | Previous Outlook | Revised Outlook | Variance |
|---|---|---|---|
| Net Revenue (H1) | 5,500 | 5,500 | 0 |
| Net Revenue (Q2) | 2,800 | 2,800 | 0 |
| Operating Profit (H1) | -180 | -30 | +150 |
| Operating Profit (Q2) | -100 | 50 | +150 |
Full-Year Outlook Remains Cautious
For the full fiscal year, Nissan maintained a cautious stance, expecting an operating loss of ¥275 billion on revenue of ¥11.7 trillion. The automaker cited potential challenges in the second half due to supply chain disruptions, foreign exchange volatility, tariff pressures, and other external risks.
Chief Financial Officer Jeremie Papin said: While our first-half results reflect temporary benefits and payback from cost-saving initiatives, we anticipate an ongoing challenging competitive environment in the second half. Our focus remains on disciplined execution, strong cash flow management, and safeguarding profitability under the Re:Nissan plan.
