Nissan Motor Co., Ltd. · TSE:7201

Nissan Motor — FY2016 3Q YTD Earnings Presentation

16 slides from Nissan Motor's earnings presentation, Feb 9, 2017

  1. Slide 1: Nissan Motor Co., Ltd. February 9th, 2017

    Nissan Motor Co., Ltd. February 9th, 2017 (TSE REPORT BASIS — CHINA JV EQUITY BASIS) (BILLION YEN) NET OPERATING NET FREE NET CASH REVENUE PROFIT INCOME * CASH FLOW (AUTO) (AUTO) 1,399.5 8,943.0 8,264.8 1,069.7 EXCLUDING 587.5 INVESTMENT IN MMC 503.2 452.8 414.2 403.5 245.6 166.1 FY15 FY16 FY15 FY16

  2. Slide 2: FY16 Financial Performance (9 Months)

    CONSTANT CURRENCY BASIS NET OPERATING REVENUE PROFIT TSE REPORT BASIS NET OPERATING 9,426.1 REVENUE PROFIT OP MARGIN 8,943.0 8.1% 8,943.0 8,264.8 OP MARGIN OP MARGIN 6.6% 764.6 6.1% 587.5 587.5 503.2 FY15 FY16 FY15 FY16 3Q YTD 3Q YTD 3Q YTD 3Q YTD (BILLION YEN) FY15 FY16 FY15 FY16 3Q YTD 3Q YTD 3Q Y

  3. Slide 3: Global and Japan sales performance

    GLOBAL TIV *1 RETAIL VOLUME M/S*2 5.9% vs. FY15 vs. FY15 M/S*2 6.1% 3,891 3,993 GLOBAL +2.6% 67.16 GLOBAL +4.5% 64.28 3.50 JAPAN +0.9% 344 JAPAN -10.0% 383 3.47 18.59 CHINA +13.0% 929 CHINA +8.2% 16.40 859 NORTH +1.0% 16.10 16.26 AMERICA NORTH (-0.4%) 1,490 1,582 +6.2% (13.52) (13.46) (U.S.) AMERICA

  4. Slide 4: China and North America sales

    CHINA FY16 3Q YTD (Jan. to Sep.) RETAIL VOLUME *1  TIV *2 : 18.59 million units, +13.0% +8.2%  Sales*1 : 929 k units, +8.2% 929 (THOUSAND UNITS) 859  Market share: 5.0%, -0.2 points FY16 YTD (Jan. to Dec.)  TIV *2 : 26.88 million units, +13.2% FY15 FY16  Sales*1 : 1,355 k units, +8.4% 3Q YTD 3Q

  5. Slide 5: Europe and Other Markets sales

    EUROPE (INCLUDING RUSSIA) Europe excluding Russia RETAIL VOLUME  TIV: 13.10 million units, +6.5%  Sales: 474 k units, +5.5% 540 +0.4% 542 (THOUSAND UNITS)  Market share: 3.6%, -0.1 points Russia  TIV: 1.10 million units, -9.5% FY15  Sales: 68 k units, -25.0% 3Q YTD  Market share: 6.1%, -1.3 po

  6. Slide 6: FY16 Financial Performance (9 Months)

    FY16 SALES PERFORMANCE (9 MONTHS) FY16 FINANCIAL PERFORMANCE (9 MONTHS) www.nissan-global.com © Copyright NISSAN MOTOR CO., LTD. All rights reserved. 11 (TSE REPORT BASIS — CHINA JV EQUITY BASIS) (BILLION YEN) FY15 FY16 VARIANCE CHANGE 3Q YTD 3Q YTD vs. FY15 (%) NET REVENUE 8,943.0 8,264.8 -678.2 -7

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

    (TSE REPORT BASIS — CHINA JV EQUITY BASIS) OPERATING PROFIT VARIANCE ANALYSIS (BILLION YEN) +177.1 (+30.1%) +214.3 +22.8 -9.7 -13.1 764.6 -261.4 +126.6 -163.8 FY15 VOLUME MARKETING COST R&D MFG OTHER FY16 3Q YTD FOREX FY16 3Q YTD /MIX & ITEMS* EXP. EXP. ITEMS O.P. 3Q YTD O.P. SELLING EXP. (w/o FX im

  8. Slide 8: Inventory Status

    (EXCLUDING CHINA JV) INVENTORY STATUS (THOUSAND (THOUSANDUNITS) UNITS) 1,000 1,000 800 850 860 930 870 800 860 810 870 870 790 790 600 600 400 400 200 200 0 0 2015 2016 2015 Jun. 2016 Sep. Dec. Mar. Jun. Dec. Mar. Jun. Sep. Dec. DEALER INVENTORY, EXCEPT SOME MINOR COUNTRIES DEALER INVENTORY, EXCEPT

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

    FINANCIAL RESULTS (MANAGEMENT PRO FORMA BASIS *1) (BILLION YEN) NET OPERATING NET FREE NET CASH REVENUE PROFIT INCOME *2 CASH FLOW (AUTO) (AUTO) 1,590.1 9,716.9 9,013.2 1,259.5 EXCLUDING 682.6 INVESTMENT 601.9 IN MMC 452.8 490.8 414.2 307.6 253.4 FY15 FY16 FY15 FY16 FY15 FY16 FY15 FY16 FY15 FY16 3Q

  10. Slide 10: Dividend Per Share (Yen)

     Minimum payout ratio of 30%  Completed share buyback program in November 2016 48 14.3% (300 million shares, 305.7 billion yen) 42 2H 33 24 30 25 20 DIVIDEND PER SHARE (YEN) 1H 24 FY11 FY12 FY13 FY14 FY15 FY16 (Forecast) www.nissan-global.com © Copyright NISSAN MOTOR CO., LTD. All rights reserved.

  11. Slide 11: Appendix: Total Funding Amount

    Appendix (AS OF DECEMBER 2016) TOTAL FUNDING AMOUNT: 9,456 BILLION YEN Equity Group Finance 11.1% (Inter-Company) 14.1% ABS Off B/S Commercial Paper 1.7% 4.1% S/T Loan 3.6% ABS On B/S 28.3% L/T Loan 24.3% Bonds 12.8% www.nissan-global.com © Copyright NISSAN MOTOR CO., LTD. All rights reserved. 22

  12. Slide 12: Net Credit Loss Ratio

    (%) NFS NMAC NCF NRFM 100 90 80 70 60 33% 27% 31% 50 29% 40 6% 6% 30 47% 49% 42% 39% 42% 20 29% 31% 34% 10 0 FY15 FY16 FY15 FY16 FY15 FY16 FY15 FY16 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

  13. Slide 13: Operating Profit & Asset

    OPERATING PROFIT & ASSET (NFS : billion yen, NMAC : million USD, NCF : million CAD, NRFM : million Peso) FY15 FY16 VARIANCE 3Q YTD 3Q YTD Asset: 1,076.3 Asset: 1,104.5 Asset: +28.2 NFS OP: 20.3 OP: 22.0 OP: +1.7 Asset: 60,841 Asset: 63,137 Asset: +2,296 NMAC OP: 760 OP: 642 OP: -118 Asset: 5,565 Ass

  14. Slide 14: 3Q Global Sales and Financial Results

    GLOBAL TIV *1 RETAIL VOLUME M/S*2 6.1% vs. FY15 vs. FY15 M/S*2 6.0% 1,380 GLOBAL +8.3% 22.47 GLOBAL +6.6% 1,275 21.08 133 JAPAN +13.1% 1.19 JAPAN +4.9% 1.14 118 319 CHINA +17.9% 6.28 CHINA +25.8% 4.99 271 NORTH +1.7% 5.26 5.36 AMERICA NORTH +7.9% (4.42) (4.43) (U.S.) (+0.2%) 495 534 AMERICA (381) (3

  15. Slide 15: 3Q Operating Profit Variance Analysis

    (TSE REPORT BASIS — CHINA JV EQUITY BASIS) OPERATING PROFIT VARIANCE ANALYSIS (BILLION YEN) +52.5 (+27.3%) +83.1 -87.0 +71.6 +3.2 -0.1 -18.3 245.1 -81.6 FY15 VOLUME MARKETING COST R&D MFG OTHER FY16 3Q FOREX FY16 3Q /MIX & ITEMS* EXP. EXP. ITEMS O.P. 3Q O.P. SELLING EXP. (w/o FX impact) O.P. * INCLU

  16. Slide 16: Free Cash Flow (Auto Business) 3Q

    (TSE REPORT BASIS — CHINA JV EQUITY BASIS) FREE CASH FLOW (AUTO BUSINESS) (BILLION YEN) +268.7 -27.3 127.4 -85.1 -28.9 39.4 -90.0 -237.4 +2.0 -198.0 NET CASH AP / AR INVENTORY TAX / CASH FLOW CAPEX* INVESTMENT OTHERS FREE FREE CASH INFLOW FROM OTHER FROM IN MMC CASH FLOW P&L ITEMS OPERATING OPERATIN

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