Nissan’s Profit Surges 92% with Increase in Sales

TOKYO — Nissan reported a significant increase in profit for the fiscal year through March, with a jump of 92% to 426.6 billion yen ($2.7 billion) as sales expanded in all major global markets except China, according to the Japanese automaker.

Annual sales also saw a notable surge of nearly 20% to 12.7 trillion yen ($81.5 billion), Nissan Motor Co. revealed.

Despite a slight dip in profit to 101.3 billion yen ($650 million) from 106.9 billion yen in the January-March quarter, quarterly sales for the maker of the Leaf electric car, Infiniti luxury models, and Z sportscars rose by 13% to 3.5 trillion yen ($22 billion).

Looking ahead, Chief Executive Makoto Uchida emphasized Nissan’s commitment to growth under a strategic plan known as “The Arc,” which prioritizes electric vehicles to drive future sales.

Nissan is banking on several upcoming models to solidify its position in the electric vehicle market, including the Ariya sports-utility vehicle in Japan and new U.S. offerings like the Armada and Murano SUVs, along with the Infiniti QX80 luxury model.

With plans to mass-produce electric vehicles with next-generation batteries by early 2029, Nissan is also exploring the integration of solid-state batteries across a range of models, including pickup trucks.

Recent collaboration agreements, such as the partnership with Honda Motor Co. to develop electric vehicles and auto intelligence technology, underscore Nissan’s commitment to innovation and industry collaboration.

In projecting a 380 billion yen ($2.4 billion) profit for the year through March 2025, Nissan anticipates ongoing investment in development costs, including support for suppliers.

While the weak yen has historically benefited Japanese exporters like Nissan by increasing the value of overseas earnings, the company stresses the importance of a stable exchange rate for long-term sustainability. The favorable currency dynamics resulted in a nearly 13% boost to Nissan’s operating profit for the previous fiscal year.

Despite challenges in the Chinese market, including a competitive landscape dominated by local players like BYD, Nissan remains optimistic about its global sales outlook. The company aims to achieve sales of 3.7 million vehicles by the fiscal year ending in March 2025, driven by projected growth in China, North America, Japan, and Europe.

Nissan’s positive performance was reflected in Tokyo trading, with shares closing 0.9% higher prior to the earnings announcement.