YOKOHAMA (dpa-AFX) - Japanese automaker Nissan Motor Co., Ltd. (NSANY, NSANF, 7201.T) on Monday swung back to profit in the first quarter, on higher revenue compared to the prior year. The company cut its full-year vehicle sales outlook, citing a tougher environment in China.
In the first quarter, net income attributable to owners of the parent was 3.8 billion yen, versus a net loss of 115.8 billion yen a year earlier.
Ordinary profit was 49.1 billion yen compared with loss of 109.2 billion yen in the prior year.
Operating profit was 77.9 billion yen versus an operating loss of 79.1 billion yen a year ago, with operating margin improving to 2.6 percent from -2.9 percent.
Quarterly revenue rose to 2.964 trillion yen from 2.707 trillion yen in the previous year, marking an increase of 257.3 billion yen.
Looking ahead, Nissan revised its fiscal 2026 global sales volume outlook down to 3.15 million units from 3.3 million units previously, due to a more challenging business environment in China. The company cited external headwinds including rising raw material costs and geopolitical uncertainty. It also flagged opportunities from favorable foreign exchange, one-time gains realized in first-quarter and other mitigating factors.
Nissan reaffirmed its fiscal 2026 financial outlook and said it remains on track to deliver its Re:Nissan commitments, supported by disciplined execution, ongoing cost reductions and actions to strengthen competitiveness.
'The environment remains challenging, particularly in China and the Middle East, but our direction is clear. We are managing disruption where it exists, building momentum where we see opportunity, and executing Re:Nissan with discipline and urgency', CEO Espinosa said.
In China, Nissan said it is executing a plan to rebalance the business through disciplined inventory management, faster NEV momentum with the N6, N7, NX8 and Frontier Pro, and expansion into overseas markets. The company said this would strengthen the base for growth from 2027.
On OTC Markets, shares of Nissan closed Friday's trading 5.99 percent lower at $4.2400.
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