Quick Takeaways
- Nissan financial results show a sharp net loss and lower global sales in FY2026 first nine months.
- Nissan recovery plan delivers fixed-cost savings as full-year forecasts are revised.
On February 12, Nissan announced results for the first nine months of the fiscal year ending March 2026, outlining the latest Nissan financial results amid ongoing global market pressures and restructuring efforts. The company reported net revenue of JPY 8,578.0 billion, reflecting a 6.2% year-over-year decline. Operating loss stood at JPY 10.1 billion, while net income attributable to owners of the parent recorded a loss of JPY 250.2 billion, underscoring the impact of currency movements, tariffs, and inflation on overall performance.
The operating loss during the period was primarily driven by multiple external cost factors.
These combined factors significantly affected profitability across major markets and directly influenced overall operating performance.
Despite these headwinds, Nissan continued to advance manufacturing cost efficiencies, partially offsetting the negative financial impact. The company’s focus on operational discipline, supply-chain optimization, and structural reforms helped cushion the blow from macroeconomic volatility. However, the cumulative effect of currency fluctuations and trade barriers remained substantial, contributing directly to the reported operating loss in the Nissan FY2026 earnings update.
Global retail sales volume declined 5.8% year-over-year to 2,257 thousand units, reflecting softer demand across key regions. North America remained relatively stable, posting a modest 1.0% increase to 950 thousand units. In China, third-quarter sales rebounded strongly with 12.7% growth, supported by rising demand for the N7 electric sedan, though cumulative sales for the first nine months were still down 8.0% compared with the previous year.
Global production volume fell 8.2% year-over-year to 2,112 thousand units, mirroring lower retail demand and calibrated manufacturing output adjustments. In light of the challenging performance during the first three quarters of FY2025, Nissan revised its global retail sales forecast downward.
The revision reflects cautious expectations for demand recovery in the final quarter and continued market uncertainty.
Nissan updated its full-year financial outlook, adjusting net revenue upward from JPY 11,700.0 billion to JPY 11,900.0 billion, though this still represents a 5.8% year-over-year decrease. The operating loss forecast was significantly improved from the previously projected JPY 275.0 billion to JPY 60.0 billion, supported by accelerated fixed-cost reductions under the Re:Nissan recovery plan.
For the full fiscal year, Nissan expects a net loss attributable to owners of the parent of JPY 650 billion. This outlook includes restructuring charges under Re:Nissan and potential additional restructuring and business alignment decisions anticipated in the fourth quarter.
Against its target of JPY 500 billion in total savings, Nissan has identified initiatives capable of delivering approximately JPY 240 billion in variable cost reductions. Fixed-cost savings have already reached JPY 160 billion, placing the company on track to exceed JPY 250 billion by FY2026. These measures are central to stabilizing Nissan financial results and restoring long-term competitiveness in an increasingly complex global automotive landscape.
| Metric | FY2026 First Nine Months | Year-over-Year Change |
|---|---|---|
| Net Revenue | JPY 8,578.0 billion | -6.2% |
| Operating Income | JPY -10.1 billion | Decline |
| Net Income (Attributable to Owners) | JPY -250.2 billion | Decline |
Nissan financial results impacted by forex, tariffs and inflation
The operating loss during the period was primarily driven by multiple external cost factors.
- Foreign exchange effects weighed in at JPY 52.2 billion
- Tariff-related impacts totaled JPY 232.0 billion
- Inflationary pressures further added JPY 63.0 billion in additional costs
These combined factors significantly affected profitability across major markets and directly influenced overall operating performance.
Cost pressures and mitigation measures
Despite these headwinds, Nissan continued to advance manufacturing cost efficiencies, partially offsetting the negative financial impact. The company’s focus on operational discipline, supply-chain optimization, and structural reforms helped cushion the blow from macroeconomic volatility. However, the cumulative effect of currency fluctuations and trade barriers remained substantial, contributing directly to the reported operating loss in the Nissan FY2026 earnings update.
Nissan global sales and production performance
Global retail sales volume declined 5.8% year-over-year to 2,257 thousand units, reflecting softer demand across key regions. North America remained relatively stable, posting a modest 1.0% increase to 950 thousand units. In China, third-quarter sales rebounded strongly with 12.7% growth, supported by rising demand for the N7 electric sedan, though cumulative sales for the first nine months were still down 8.0% compared with the previous year.
| Region / Metric | Volume (Thousand Units) | Year-over-Year Change |
|---|---|---|
| Global Retail Sales | 2,257 | -5.8% |
| North America Retail Sales | 950 | +1.0% |
| China Q3 Sales | NA | +12.7% |
| China 9M Cumulative Sales | NA | -8.0% |
Production trends and revised sales forecast
Global production volume fell 8.2% year-over-year to 2,112 thousand units, mirroring lower retail demand and calibrated manufacturing output adjustments. In light of the challenging performance during the first three quarters of FY2025, Nissan revised its global retail sales forecast downward.
- Previous forecast: 3,250 thousand units
- Revised forecast: 3,200 thousand units
- Projected year-over-year decline: 4.4%
The revision reflects cautious expectations for demand recovery in the final quarter and continued market uncertainty.
Full-year outlook and Re:Nissan recovery plan progress
Nissan updated its full-year financial outlook, adjusting net revenue upward from JPY 11,700.0 billion to JPY 11,900.0 billion, though this still represents a 5.8% year-over-year decrease. The operating loss forecast was significantly improved from the previously projected JPY 275.0 billion to JPY 60.0 billion, supported by accelerated fixed-cost reductions under the Re:Nissan recovery plan.
| Full-Year Outlook Metric | Updated Forecast | Previous Forecast |
|---|---|---|
| Net Revenue | JPY 11,900.0 billion | JPY 11,700.0 billion |
| Operating Loss | JPY 60.0 billion | JPY 275.0 billion |
| Net Loss (Attributable to Owners) | JPY 650 billion | NA |
For the full fiscal year, Nissan expects a net loss attributable to owners of the parent of JPY 650 billion. This outlook includes restructuring charges under Re:Nissan and potential additional restructuring and business alignment decisions anticipated in the fourth quarter.
Against its target of JPY 500 billion in total savings, Nissan has identified initiatives capable of delivering approximately JPY 240 billion in variable cost reductions. Fixed-cost savings have already reached JPY 160 billion, placing the company on track to exceed JPY 250 billion by FY2026. These measures are central to stabilizing Nissan financial results and restoring long-term competitiveness in an increasingly complex global automotive landscape.
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