Nissan Motor Co., Ltd. · TSE:7201
Nissan Motor — FY2014 Earnings Presentation
25 slides from Nissan Motor's earnings presentation, May 13, 2015
Slide 1: Fiscal Year 2014 Financial Results
Fiscal Year 2014 Financial Results Nissan Motor Co., Ltd May 13, 2015 FY14 results Path to Nissan Power 88 FY15 outlook (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 2
Slide 2: Key performance indicators: financial results
Key performance indicators: financial results (TSE report basis - China JV Equity basis) (billion yen) Net revenue Operating Free cash flow Net cash Net income profit (Auto) (Auto) 1,390.1 11,375.2 1,015.9 10,482.5 589.6 498.4 389.0 457.6 365.8 199.7 FY13 FY14 (C) Copyright NISSAN MOTOR CO., LTD. ww
Slide 3: FY14 sales performance: Japan and China
FY14 sales performance: Japan ■ TIV: 5.30 million units, -6.9% Retail volume (thousand units) ■ Sales: 623 k units, -13.3% -13.3% 719 ■ Market share: 11.8%, -0.8 points 623 ■ New X-Trail: 45.6 k units FY13 FY14 ■ DAYZ / DAYZ ROOX: 167.5 k units Market share -0.8 points X-Trail DAYZ ROOX (%) 12.6 11.
Slide 4: FY14 sales performance: North America and Europe
FY14 sales performance: North America ■ US US Retail volume • TIV: 16.73 million units, +6.9% +8.9% (thousand units) • Sales: 1,400 k units, +8.9% 1,400 • Market share: 8.4%, +0.2 points 1,285 ■ Canada • Sales: 118 k units, +22.4% FY13 FY14 • Market share: 6.3%, +0.8 points ■ Mexico US Market share
Slide 5: FY14 sales performance: Other markets; financial performance
FY14 sales performance: Other markets ■ Estimated TIV: 20.15 million units, -2.6% ■ Sales: 889 k units, +1.1% Asia & Oceania: 363 k units, +0.0% Retail volume Latin America: 184 k units, -1.2% Middle East: 237 k units, +4.7% (thousand units) +1.1% 878 889 NP300 Navara Datsun GO+ Panca FY13 FY14 (C)
Slide 6: FY14 financial performance: operating profit and free cash flow
FY14 financial performance (TSE report basis - China JV Equity basis) Operating profit variance analysis (billion yen) +32.4 +112.7 +68.6 589.6 -43.8 498.4 -39.5 -0.1 -20.1 -19.0 FY13 FOREX Cost items * Volume Marketing US R&D MFG Other FY14 full year / mix & remarketing exp. exp. items full year O.
Slide 7: Inventory management; Net cash (Auto business)
Inventory management (excluding China JV) Inventory status 1,000 800 880 860 800 820 810 (thousand units) 600 400 200 0 2014 2015 Mar. Jun. Sep. Dec. Mar. Dealer inventory, except some minor countries Consolidated Nissan inventory, except some minor countries (C) Copyright NISSAN MOTOR CO., LTD. www
Slide 8: Key performance indicators: management pro forma basis
Key performance indicators: financial results (management pro forma basis* ) (billion yen) Operating Free cash flow Net cash Net revenue Net income profit (Auto) (Auto) 1,524.5 12,406.3 11,434.8 1,133.7 718.6 605.7 389.0 457.6 352.3 208.1 FY13 FY14 * Based on continuation of proportionate consolidat
Slide 9: Path to Nissan Power 88: Products offensive
FY14 results Path to Nissan Power 88 FY15 outlook (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 17 Path to Nissan Power 88 Products offensive continues: Nissan Qashqai X-Trail Rogue Murano NP300 Navara Maxima Lannia Titan (C) Copyright NISSAN MOTOR CO., LTD. www.nis
Slide 10: Products offensive continues: Infiniti and Datsun
Path to Nissan Power 88 Products offensive continues: Infiniti Q50L Q30 concept Q60 concept QX30 concept (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 19 Path to Nissan Power 88 Products offensive continues: Datsun GO+ GO on-DO mi-DO (C) Copyright NISSAN MOTOR CO.,
Slide 11: Technology innovation: autonomous drive and zero emission
Path to Nissan Power 88 Technology innovation continues ■ Autonomous drive roadmap 2016 2018 2020 Traffic Jam Highway City Single Lane Multi Lane Intersection (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 21 Path to Nissan Power 88 Technology innovation
Slide 12: Brand and sales power; competitiveness and quality
Path to Nissan Power 88 Brand and sales power Marketing effectiveness Brand value improvement ■ UEFA champions league partnership 56th 2014 ■ Super Bowl XLIX 65th 2013 73rd 2012 90th 2011 Unranked 2010 (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 23 Path to Nissan
Slide 13: Alliance
Path to Nissan Power 88 Alliance ■ Converged 4 key functions ■ Alliance synergy • Engineering (€ billion) • Manufacturing & SCM • Purchasing • Human Resources Target 4.3 Commitment 3.8 2.7 2.9 1.7 2011 2012 2013 2014 2016 (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved
Slide 14: FY15 sales outlook and financial outlook
FY15 sales outlook TIV* Retail volume vs. FY14 **M/S 6.5% vs. FY14 **M/S 6.2% 85.44 Global +0.1% 5,550 Global +4.4% 85.36 5,318 5.14 Japan -3.0% 600 Japan -3.7% 23.45 China +5.0% 1,300 China +6.4% (thousand units) (million units) North 19.73 -0.3% North America 1,920 +5.0% (16.70) (-0.2%) America (U
Slide 15: FY15 outlook: operating profit variance and pro forma
FY15 outlook (TSE report basis - China JV Equity basis) Operating profit variance analysis (billion yen) +110.0 675.0 589.6 +35.0 -19.6 -40.0 FY14 FOREX M&S Monozukuri G&A FY15 O.P. and O.P. actual other costs outlook (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 29
Slide 16: FY15 shareholder return outlook
FY15 shareholder return outlook 42 dividend per share (yen) 33 30 25 20 FY11 FY12 FY13 FY14 FY15 (Forecast) (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 31 (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 32
Slide 17: Appendix: Sales financing funding sources
Appendix Sales financing : funding sources (As of March 2015) Equity Group Finance 10.2% (Inter-Company) ABS Off B/S 20.2% 2.7% Commercial paper 2.4% ABS On B/S S/T Loan 26.1% 3.2% L/T Loan Bonds 24.3% 10.9% Total funding amount 8,392 billion yen (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-globa
Slide 18: Sales financing: penetration and net credit loss ratio
Sales financing : penetration Lease Retail (%) 100% 100 90% 90 NFS NMAC NCF NRFM 80% 80 70% 70 60% 60 27% 26% 28% 29% 50% 50 40% 40 4% 6% 30% 30 44% 48% 20 20% 41% 39% 38% 42% 32% 29% 10 10% 0%0 FY13 FY14 FY13 FY14 FY13 FY14 FY13 FY14 NFS: Nissan Financial Services, sales finance company in Japan NM
Slide 19: Sales financing: operating profit and asset
Sales financing : operating profit & asset ( NFS : billion yen, NMAC : million USD, NCF : million CAD, NRFM : million Peso) FY13 FY14 Variance Asset: 1,155.2 Asset: 1,063.8 Asset: -91.4 NFS OP: 22.6 OP: 24.2 OP: +1.6 Asset: 49,816 Asset: 54,682 Asset: +4,866 NMAC OP: 931 OP: 977 OP: +46 Asset: 4,174
Slide 20: 4th quarter sales performance and financial performance
FY14 4th quarter sales performance (3 months): Global TIV* Retail volume **M/S 7.1% vs. FY13 **M/S 6.8% vs. FY13 21.94 1,515 1,483 Global -2.1% 21.43 Global +2.4% 1.58 Japan -14.4% 206 Japan -18.5% 6.21 China +7.6% 342 China -10.0% (thousand units) (million units) North 4.63 +6.3% America North (3.9
Slide 21: 4th quarter operating profit variance analysis
FY14 4th quarter financial performance (3 months) (TSE report basis - China JV Equity basis) Operating profit variance analysis (billion yen) +41.3 +26.8 +8.2 197.7 -22.2 -17.4 171.6 -23.7 -5.0 -34.1 FY13 FOREX Cost items * Volume Marketing US R&D MFG Other FY14 4Q / mix & remarketing exp. exp. item
Slide 22: Non-operating and extraordinary gains/losses
FY14 financial performance (TSE report basis - China JV Equity basis) Detail of non-operating income/expenses (billion yen) FY13 FY14 Variance • Interest income / expenses -11.6 -3.9 +7.7 • FX gains / losses -13.1 66.2 +79.3 • Derivative gains / losses -18.2 -58.4 -40.2 • Profit/Loss under equity me
Slide 23: 4th quarter non-operating and extraordinary items
FY14 4th quarter financial performance (3 months) (TSE report basis - China JV Equity basis) Detail of non-operating income/expenses (billion yen) FY13 FY14 Variance 4Q 4Q • Interest income / expenses -1.7 0.7 +2.4 • FX gains / losses -19.3 -13.3 +6.0 • Derivative gains / losses 6.6 19.0 +12.4 • Pro
Slide 24: 4th quarter free cash flow; FY14 retail sales other markets
FY14 4th quarter financial performance (3 months) (TSE report basis - China JV Equity basis) Free cash flow (Auto business) (billion yen) +108.9 +308.4 328.7 -57.2 +23.9 210.1 -31.4 -142.5 Net cash AP / AR Inventory Tax / other Cash flow CAPEX * Other Free cash inflow from operating from flow P&L it
Slide 25: 4th quarter retail sales: other markets
FY14 4th quarter retail sales (3 months) FY14 4Q Detail of other markets FY13 4Q 150 120 (thousand units) 96.8 91.4 90 74.5 68.4 60 39.8 42.4 27.2 29.2 30 0 Asia & M.East Africa Latin Oceania America (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 49