Financial Data and Key Indicator Changes - For the first nine months of fiscal year 2024, net revenue was JPY 9.1 trillion, operating profit decreased to JPY 64 billion, and net income decreased to JPY 5.1 billion [14][70]. - Consolidated net revenue was flat at JPY 9 trillion, with a negative operating margin of 1.8% [17][73]. - Auto free cash flow year-to-date was negative JPY 506 billion, with net cash in the auto segment at JPY 1.2 trillion [17][73]. Business Line Data and Key Indicator Changes - Global retail sales decreased by less than 2% to 2.4 million units year-to-date, with a slight increase in unit sales when excluding China [15][71]. - North America saw a growth of 2.4%, offsetting declines in Japan and Europe [15][72]. - Retail sales for Q3 alone, excluding China, increased nearly 2%, particularly with a close to 10% increase in North America [16][72]. Market Data and Key Indicator Changes - The market in China remains challenging, contributing to a decline in retail sales [15][72]. - The company maintains its outlook for retail sales of 3.4 million units and global production of 3.2 million units for fiscal year 2024, despite trimming net revenue outlook by JPY 200 billion [21][78]. Company Strategy and Development Direction - The company has decided to terminate discussions for business integration with Honda due to concerns over autonomy and maximizing Nissan's potential [9][12]. - The revised sales assumption for the midterm plan is now set at 3.5 million units for fiscal year 2026, down from 4.5 million units [27][84]. - The company aims to achieve a 4% operating margin by reducing variable expenses by JPY 100 billion and fixed costs by JPY 300 billion [30][86]. Management's Comments on Operating Environment and Future Outlook - Management acknowledges the competitive challenges in the industry but sees signs of progress with new vehicle launches contributing positively [20][77]. - The company expects to maintain or slightly increase operating profit compared to 2024 levels, despite boosting sales volume [85][86]. - Future risks include FOREX volatility, regulatory costs, and fixed costs, which could impact revenue and profit [85][86]. Other Important Information - The company plans to reduce headcount by 5,300 in fiscal year 2025 and 1,200 in fiscal year 2026 as part of its restructuring efforts [36][90]. - Global production capacity is expected to decrease by 20% from 5 million units to 4 million units by fiscal year 2026 [93][95]. - The company is focusing on launching new models, including a plug-in hybrid version of Rogue and a new energy vehicle in China [46][104]. Q&A Session Summary Question: What was the reason behind the unsuccessful business integration with Honda? - Management explained that the initial plan was to create a holding company to leverage strengths, but Honda's proposal to make Nissan a wholly-owned subsidiary raised concerns about autonomy and maximizing potential [120][124][126]. Question: What are the expected expenses related to the turnaround actions? - The CFO indicated that approximately JPY 100 billion is estimated for restructuring costs and impairments, with potential updates in the fourth quarter [130][131].

FY2024 Third Quarter Financial Results & Turnaround Progress February 13, 2025 FY2024 Q3 YTD 01 Financial Results FY2024 Outlook 02 03 Turnaround Progress = NISSAN MOTOR CORPORATION FY2024 Q3 YTD 01 Financial Results OW24 KLV MOTOR CORPORATION FY2024 Q3 YTD Summary NET REVENUE OPERATING PROFIT NET INCOME 64.0 B 9,143.2 B 5.1 B -0.3% YEAR OVER YEAR -98.4% YEAR OVER YEAR -86.6% YEAR OVER YEAR FY24 Q3 Retail Sales Results Q3 YTD Q3 (Thousand units) -1.8% -2.2% vs. FY23 819 2,441 -> 2,397 801 vs. FY23 T China - ...

Group 1 - Nissan and Honda have called off a $50 billion merger that would have formed one of the world's largest car companies [1] - The decision was made to prioritize speed of decision-making and execution of management measures in an increasingly volatile car market [1] - Both companies will continue to work within the framework of a strategic partnership moving forward [1] Group 2 - The merger talks were first announced in late December, and if completed, it would have created the world's third-largest automaker by sales [2]

Core Viewpoint - Nissan and Honda are facing challenges in their potential merger discussions, with Nissan considering backing out due to unacceptable terms proposed by Honda [1][2]. Group 1: Merger Discussions - Reports indicate that Nissan is weighing the option to abandon the memorandum of understanding with Honda [1]. - Nissan plans to finalize its direction regarding the merger discussions by mid-February [3]. - Honda stated that discussions are still ongoing but did not provide further details [4]. Group 2: Background and Objectives - In late December, Nissan and Honda announced a memorandum of understanding aimed at maintaining global competitiveness and enhancing product offerings [5]. - The potential merger could create the world's third-largest automaker, integrating management resources, knowledge, and technologies [6]. Group 3: Production and Market Capitalization - Honda produced over 3.7 million vehicles in 2024, while Nissan produced over 3.1 million [7]. - As of the latest reports, Honda's market capitalization was approximately $50.11 billion, and Nissan's was around $9.44 billion [7].

编译 / 钱亚光 设计 / 琚 佳 来源 / www.nikkei.co.jp, www.asahi.com,www.ft.com 据《日经社》报道，日产汽车将暂停与本田汽车的合并谈判，因为两家日本汽车制造商未能就整合率等关键规定达成一致。 日产表示，双方仍有望在2月中旬之前提供有关谈判的最新情况。"这篇文章不是基于日产公布的信息。我们的目标是在2月中旬之前敲定我们的方向， 并将在那时宣布。"一位女发言人说。 据日本《朝日新闻》早些时候援引未具名消息人士的话报道，由于双方董事会会议进展缓慢，这两家公司可能会终止谈判。 去年 12 月，这两家汽车制造商曾表示，计划在 2026 年 8 月前成立一家合资控股公司，届时双方的股票都将退市。 之后，双方就合并事宜展开讨论，但仅仅 40 多天后，谈判就已恶化。据知情人士透露，在谈判初期，双方就股权比例和资产估值问题发生争执，紧张 局势随之出现。 本田面临着来自股东和内部的压力，要求其全面掌控日产，以扭转这家陷入困境的汽车制造商的局面。本田最新的提议，偏离了最初将两家公司置于一 家共同拥有的控股公司之下的计划，而这种结构本可以为保留日产的品牌和决策权提供空间。 日产汽车财 ...

Group 1 - Honda and Nissan shares rose after reports indicated the companies were considering terminating their merger talks, with Nissan's shares increasing by 7.4% and Honda's by 4.2% [1] - The merger discussions began last December, with plans to conclude by June this year, which would have positioned them as the world's third-largest carmaker by sales [2] - Nissan's strategic partner Mitsubishi was also invited to join the merger discussions, with a decision expected from Mitsubishi in mid-February or later [2] Group 2 - Analysts suggested the merger was driven by Nissan's financial struggles and the need to restructure its alliance with Renault, with Nissan planning to cut 9,000 jobs and reduce global production capacity by 20% [3] - Nissan faced significant challenges in key markets, including the U.S. and China, with operating profits dropping by 90% and net income declining by 94% in the first half of fiscal year 2024 compared to the previous year [4] - The global auto industry is undergoing transformation due to the rise of electric vehicles, impacting traditional automakers [3]

1月22日，日产汽车宣布在日本北九州市建设下一代电动汽车电池工厂。该工厂将生产下一代 磷酸铁锂（LFP）电池，年产能为5吉瓦时，预计投资1533亿日元，计划最早于2028年将其安 装在轻型电动汽车上。 据多家媒体报道，11月7日，日产汽车宣布将把全球产能削减20%，同时裁员9000人，主要缘 于在美国和中国市场销售状况不佳。 圆柱电池巡访： ☆走进国轩高科 ☆走进利维能 ☆走进诺达智慧 ☆走进中泽科技 ☆走进苏州力神 ☆走进睿恩新能源 ☆走进天鹏电源 ☆走进中比新能 源 ☆走进天能集团 ☆走进新能安 ☆走进浙江锋锂 ☆走进华立源 ☆走进鹏辉能源 ☆走进欣旺达锂威 ☆走进深圳中基 ☆走进博力威 ☆走进恒泰科技 圆柱电池论坛： 行业首届圆柱电池技术论坛定档2025年2月28日，深圳举办！ 报道指出，除了下调年度利润预期和裁员措施外，日产汽车正采取包括降低销售、综合及行政 开支，降低成本，优化资产组合等措施，希望以此扭转业绩。 日产社长内田诚表示："市场环境极为严峻。我们的核心车型销售没有达到预期。"内田诚宣 布，他为业绩恶化承担责任，自愿减薪50%。 12月23日，日产汽车和本田汽车宣布正式启动合并，"大体框架已 ...

Core Viewpoint - A merger with Honda may be Nissan's best or only chance for survival amid significant challenges in key markets and a drastic decline in profits [1] Financial Performance - Nissan's operating profits dropped by 90% and net income fell by 94% in the first half of fiscal year 2024 compared to the same period a year earlier [1] - A report indicated that Nissan has "12 or 14 months to survive," although the company described these comments as speculation [2] Strategic Actions - The company is implementing significant changes, including executive shuffles, cutting 9,000 jobs, and reducing production by approximately 20% [3] - CEO Makoto Uchida is reducing his monthly compensation by about 50%, with other executive committee members also expected to take pay cuts [3] Market Position and Strategy - Despite challenges, Nissan has strengths, such as six models priced below $30,000 in the U.S., which is advantageous given the average transaction price is close to $50,000 [4] - A potential strategy involves targeting the value niche market, focusing on affordable and reliable vehicles for first-time buyers and new families [5]

编 译 / 周 洲 设 计 / 赵昊然 来源 / Automotive News，Yahoo Autos，Automotive dive等 加州洛杉矶大火第7天，火势未减。 网传的航拍图可见，作为美国第二大城市的洛杉矶的富人区，烧成了炼狱。 第一场火灾于1月7日爆发，由洛杉矶地区干燥多风的天气引起。据《洛杉矶时报》报道，最大的火 灾是帕利塞兹（Palisades）大火，覆盖面积超过31平方英里。预计这将是美国历史上损失最惨重的 火灾。 截至目前，这场大火已造成至少24人死亡，超过13000栋建筑被毁，约18万人被强制撤离，约20万 人被要求准备随时撤离。 更可怕的是，当地时间1月13日清晨，加州天气预报机构警告称，洛杉矶即将遭遇平均风速超过80 公里/小时、山区阵风可达113公里/小时的"魔鬼风"，消防队预计未来几天风力和干燥天气将持续， 这可能会使消防工作更加复杂。准备撤离的人数一下子飙升了数十倍。 帕利塞兹地区50%-75%的区域像废墟，诸多富人和明星的豪宅豪车被烧毁。 这场山火对当地生态环境造成了毁灭性的打击，约有5000种动植物失去了它们的栖息地。 私人气象预测机构将火灾造成的财务损失，从先前预估的5 ...

以下文章来源于南风窗 ，作者荣智慧 南风窗 . 冷静地思考，热情地生活。 背后是中国新能源汽车的"得势"。 作者 | 荣智慧 编辑 | 向由 来源 | 南风窗 （ID：SouthReviews） 12月23日，日本汽车制造商本田汽车公司和日产汽车公司在东京共同宣布，本田与日产 将正式开启合并谈判。 日本三大车企丰田、本田、日产，人称"御三家"。本田和日产合并，三家一下剩两家。 忽喇喇似大厦倾，日产出手就是"死亡倒计时"。刚被曝光现金流还能撑12个月，紧接 着"接盘侠"本田就进了场。 如果顺利，此次合并将成为斯特兰蒂斯成立以来汽车行业最大的合并案例。新集团将由 本田和讴歌、日产和英菲尼迪以及三菱组成，而雷诺-日产-三菱联盟如何切割尚未可 知。 电动汽车时代，风月无情人暗换。 曾经睥睨江湖的日系霸主也不得不待价而沽，这在日产历史上倒不是第一回。在一个早 已天翻地覆的行业里，一心靠抱团取暖，凑起来的很可能是"失败者联盟"。 死亡倒计时 触发日产"死亡倒计时"的事件，是财报。 财报显示，今年4月到9月，日产净利润为192亿日元（约合人民币9亿元），同比下滑 94%。第三季度，净利润转盈为亏，单季亏损93亿日元。截至三 ...