Nissan narrows first-half loss to 39.7 billion yen but cuts sales estimate

Six-month results narrow the loss

Nissan Motor Co. reported on Wednesday, 11 November 2026, a consolidated net loss of 39,705 million yen for April to September, down from a loss of 221,921 million yen in the same period a year earlier. The company remained in the red for the first half for a second straight fiscal year, which it attributed to weak performance in China, where local automakers are strong. Operating profit for the six months came to 80,009 million yen, against a loss of 27,653 million yen a year before. Sales reached 6,071.9 billion yen, up 8.8% year on year, with a more favorable exchange rate and pricing helping the top line.

April-September 2025-221.9

April-September 2026-39.7

April-September 2025

-221.9 billion yen

April-September 2026

-39.7 billion yen

Data from the article text

A weak second quarter

Operating profit for July to September fell 96% from a year earlier to 2.1 billion yen, about 12 million euros, as higher costs for raw materials and components and weak sales in China weighed on earnings. A benefit from lower emissions costs in the United States that Nissan enjoyed a year earlier did not repeat. Analysts polled by LSEG had expected 60 billion yen for the quarter on average, so the outcome fell well short of forecasts. The quarter's result was worse than expected, a setback for the company's recovery efforts.

Analyst average expected (LSEG)60

Reported July-September2.1

Analyst average expected (LSEG)

60 billion yen

Reported July-September

2.1 billion yen

Data from the article text

Forecasts and the China problem

Nissan kept its net profit forecast of 20 billion yen for the fiscal year through March 2027, which would return the company to profit after two fiscal years in the red. The global vehicle sales estimate, however, was lowered from 3.15 million units to between 2.97 million and 3 million units. Sales in the United States and Japan performed well, while China remained challenging, with competition there described as fierce. A forecast from China's automobile association expects passenger car sales in China to fall below 19 million for the first time since 2014. Unrest in the Middle East has pushed up the price of some raw materials and blocked shipments, which continues to weigh on Nissan along with other Japanese companies. An earthquake that struck Kumamoto in southwestern Japan earlier in 2026 cost the company's plant there several days of production, although no employee was injured.

Management's outlook

Chief Executive Ivan Espinosa said model launches would build on the recovery in each market, adding that the second half offers real opportunities for the company.

“The second half offers real opportunities to make progress.”

He told reporters that the company's next step is to build on that foundation.

“The next step is to build on that foundation.”

Nissan's new business plan is due to be announced in February next year. Shares slipped 1.5% in Wednesday trading ahead of the earnings release, after declining over the past year.

Business context

Nissan makes the Rogue sport utility vehicle, the Z sports car and Infiniti luxury models. The company is allied with Renault SA of France and Mitsubishi Motors Corp. of Japan, and it has a partnership with Honda Motor Co. that shares technology and some parts.