Nissan records steady third-quarter progress and lifts FY2025 outlook

Nissan Motor Co., Ltd. announced financial results for the nine months ended December 2025 and issued a revised full‑year outlook. The company delivered resilient performance with positive third‑quarter operating profit.

In the nine months, global sales reached 2.26 million units, mainly led by the US and China. Consolidated net revenue totaled 8.6 trillion yen, with an operating profit of -10.1 billion yen, reflecting a notable improvement from the cumulative results through the second quarter as operating losses continued to narrow. Despite continued pressure from softer sales volumes and the impact of tariffs, the company delivered steady operational progress in fixed‑cost reduction and Monozukuri cost efficiencies.

Net income came in at -250.2 billion yen, primarily due to lower income from equity-method companies and restructuring costs.

Nissan maintained a robust financial position with total liquidity of 3.6 trillion yen, including 2.1 trillion yen in cash and cash equivalent as of December.

Third-quarter financial results

The following table summarizes the results for the third quarter of fiscal year 2025, calculated under the equity accounting method for the group’s China joint venture.

Nissan revised its full-year outlook for fiscal year 2025.

The global sales volume forecast was adjusted to 3.2 million units. The updated financial outlook is as follows: net revenue is expected to be 11.9 trillion yen, and operating profit is projected to improve to –60 billion yen, including the impact of tariffs, representing an improvement of 215 billion yen compared with the previous forecast. The projected net income is -650 billion driven primarily by non-cash accounting charges.

Under the Re:Nissan plan, Nissan is advancing its efforts to achieve positive automotive operating profit and free cash flow by the end of fiscal year 2026 before tariffs.

The company has identified 240-billion-yen potential variable cost savings through thousands of innovative ideas moving into implementation, ensuring sustainable efficiencies without compromising quality, safety, or performance.

Fixed cost reductions are advancing rapidly. Nissan has delivered over 80 billion yen in the first half and have already reached 160 billion yen ahead of plan, with confidence that it will surpass its 250-billion-yen target by fiscal year 2026.

The consolidation of our vehicle production sites is now progressing toward
completion and the engineering cost-per-hour improvement stands at 15% toward a 20% goal.

Ivan Espinosa, Nissan’s president and chief executive, stated: “Through the
collective efforts of employees company‑wide, we are delivering steady progress under Re:Nissan. We have announced all seven sites for consolidation within ten months, reflecting disciplined execution and significant advancement on fixed‑cost improvements.

Although sales remain under pressure and tariff impact continues, we are maintaining operational focus and recognizing the ongoing momentum of our product lineup. While FY25 will reflect a substantial net loss driven primarily by non-cash accounting charges, these actions are necessary to strengthen our long- term operating performance. We will continue reinforcing our financial foundation and increasing revenue through the introduction of competitive new models, supporting our trajectory toward the goals of Re:Nissan.”