虽然业绩暂时有所好转，但由于在美国和中国两大市场的销售低迷，再次陷入业绩低迷。 包括与本 田的统合谈判破裂在内，内田诚将承担经营责任。 在记者会上，内田诚对于卸任的原因表示，"陷入了无法获得部分员工信任的状况。认为尽早重新开始 对公司来说是最好的"。埃斯皮诺萨表示，"日产有潜力，可以发挥出很多可能性"，表达了重振旗鼓的 信心。 日产现任社长 内田诚 日产社长兼CEO内田诚将卸任。由首席企划官伊万・埃斯皮诺萨接任。5名执行董事中将有4人卸任。 由于业绩不振和与本田的经营统合谈判破裂，日产将调整管理层…… 日产3月11日宣布，社长兼首席执行官（CEO）内田诚将于31日卸任。由新车战略总负责人、首席企划 官伊万・埃斯皮诺萨（46岁）接任。5名执行董事中将有4人卸任，更换管理层。由于业绩不振和与本田 的经营统合谈判破裂，日产将调整管理层。 在同一天召开的董事会会议上做出了上述决定。内田诚将继续担任董事直到6月的定期股东大会。 在日产前会长卡洛斯・戈恩被逮捕等事件导致经营陷入混乱的2019年12月，内田诚就任社长。他改变了 日产与最大股东法国雷诺的资本关系，恢复了经营独立性。还推进了关闭工厂和裁员等合理化措施。 与其他 ...

Core Insights - Nissan Motor Co., Ltd. has successfully tested a driverless vehicle on public roads in Japan, marking a significant advancement in its autonomous driving technology [1] - The test vehicle, a Serena MPV, is equipped with advanced sensors and AI capabilities, enhancing its operational efficiency in complex environments [2] - Japan is striving to enhance its autonomous driving capabilities to compete with global leaders like Waymo, which is entering the Japanese market this year [3] Company Developments - Nissan has been refining its autonomous driving systems since 2017 and plans to conduct service demonstration tests with around 20 vehicles in Yokohama over the next two years [4] - The company aims to introduce autonomous mobility services by fiscal 2027, supported by remote monitoring and collaboration with municipalities and transportation partners [4] - The Serena test vehicle is currently classified as Level Two autonomy, with a remote operator available for intervention, while a human passenger is present during test rides [3][4] Industry Context - Japan faces challenges such as a declining population and a shortage of drivers, making autonomous vehicles a potential solution for transportation needs [5] - Other companies, including startups like Tier IV and Toyota Motor Corporation, are also advancing autonomous technology in Japan [5][6] - Currently, Japan has only approved Level Four autonomous vehicles in limited areas, while Nissan's Serena is capable of normal road speeds [5]

Core Viewpoint - Nissan Motor Co. is experiencing significant challenges, including financial instability, declining sales, leadership uncertainty, and increased competition, particularly in the electric vehicle market [2][10]. Group 1: Financial Performance - Over the past 12 months, Nissan's shares have decreased by 26.4%, underperforming the Zacks Auto, Tires and Trucks sector's loss of 1.5% and the S&P 500 index's gain of 17.1% [1]. - In the first three quarters of 2024, global retail sales fell nearly 2% to 2.4 million units, with North America showing modest growth of 2.4%, while Japan and Europe saw declines [5]. - Nissan's debt is projected to reach a record level of $5.6 billion by 2026, impacting its ability to invest in new technologies [6]. - The company reported an auto-free cash flow deficit of JPY 506 billion, straining its liquidity [6]. - The Zacks Consensus Estimate for Nissan's fourth-quarter 2024 revenues is $20.53 billion, indicating a year-over-year decline of 13.24% [14]. Group 2: Product and Market Position - Nissan's product lineup is considered outdated compared to competitors like Toyota and emerging Chinese EV manufacturers, leading to heavy discounts and incentives to maintain sales [7][8]. - Despite being an early pioneer in EVs with the Nissan Leaf, the company has failed to capitalize on its initial lead, allowing competitors to dominate the market [9]. Group 3: Leadership and Strategic Challenges - Leadership instability is evident, with CEO Makoto Uchida facing pressure to resign amid poor performance [10]. - Nissan's attempts to explore a merger with Honda Motor Co. were unsuccessful due to disputes over terms, and a three-party MoU with Honda and Mitsubishi was canceled [11]. - Renault has indicated it may reduce its stake in Nissan, further isolating the company [11]. Group 4: Outlook and Restructuring Efforts - Nissan has cut its full-year outlook three times in fiscal 2024, with a 20% reduction in operating profit guidance [12]. - The company plans to restructure its cost base by reducing its workforce by 5,300 in fiscal 2025 and an additional 1,200 in fiscal 2026, along with closing three plants [13].

据彭博社报道，有知情人士透露，日产汽车正在制定更换首席执行官的计划。 此前，该公司的财务业绩不尽人意，且与本田汽车的合并谈判破裂。 彭博社的报道称，一位不愿具名的知情人士透露，日产董事正在衡量潜在候选人的兴趣，以接替自2019 年底以来担任日产首席执行官的内田诚（Makoto Uchida）。 对此消息，日产拒绝置评。 2月18日，《金融时报》曾援引知情人士的消息报道称，如果内田诚离任，本田将重启与日产的谈判， 因为本田更愿意与一位能够更有效地管理内部反对意见的日产首席执行官重新展开谈判。 根据《金融时报》的报道，虽然内田诚打算留任至2026年，但在日产与本田的谈判失败后，内田诚面临 的内外部压力正在增加，日产董事会成员和雷诺集团要求内田诚在未来几个月内辞职。 内田诚曾向媒体表示，如果被要求辞职，他将准备辞职，但他不想在日产业务尚未稳定之际辞职。 在截至今年3月份的财年中，日产预计将出现800亿日元（约合5.36亿美元）的净亏损，与内田诚九个月 前3,800亿日元的净利润预期相去甚远。 日产汽车明年将有创纪录债务账单到期，而且继上周两次被下调评级后，三大信用评级机构已将日产的 评级下调至垃圾级。 去年年底，内 ...

Core Viewpoint - Nissan is in a precarious financial situation and is seeking investment, but Tesla is unlikely to be a viable option despite initial speculation [1][5][6]. Group 1: Financial Situation of Nissan - Nissan's credit rating was downgraded to junk status by Moody's, following the collapse of a proposed $50 billion merger with Honda [5]. - The company is projected to incur an annual loss of 80 billion yen ($519 million) due to declining sales in China and the US, exacerbated by competition from Chinese EV companies [5]. - CEO Makoto Uchida has announced plans to cut 9,000 jobs globally and reduce vehicle production to stabilize the company [6]. Group 2: Tesla's Position and Response - Reports suggested that a consortium of Japanese investors was interested in approaching Tesla for potential investment in Nissan's factories [2]. - Elon Musk quickly dismissed the idea, emphasizing that Tesla's factory design is unique and not compatible with Nissan's operations [3][4]. - Tesla has shifted its focus towards autonomous vehicles and robotics, making it an unlikely partner for Nissan's traditional manufacturing needs [7]. Group 3: Market Dynamics - Tesla's production strategies, including advanced manufacturing techniques like gigacasting, would complicate any potential conversion of Nissan's factories [7]. - The US EV market is facing challenges, including a decline in Tesla's annual sales and the rollback of federal support for electric vehicles under the Trump administration [8].

Core Viewpoint - Tesla CEO Elon Musk has downplayed reports regarding Tesla's interest in investing in Nissan's U.S. factories, following a report that a Japanese group is seeking Tesla's investment after Nissan's merger talks with Honda collapsed [1][3]. Group 1: Investment Plans - A group led by former Tesla board member Hiro Mizuno, with support from former Japanese Prime Minister Yoshihide Suga, is reportedly planning to attract Tesla as a strategic investor in Nissan [2]. - The group aims to form a "consortium of investors" with Tesla at the forefront, and Apple supplier Foxconn is expected to join as a minority investor [4]. Group 2: Market Reaction - Following the report of potential investment from Tesla, Nissan's shares surged over 12% in Tokyo trading, closing at $3.05 (JPY 459), which is nearly 9.5% higher than the previous day [5]. Group 3: Merger Talks Background - Nissan and Honda recently ended their merger discussions due to disagreements over the deal structure, with Honda proposing to make Nissan a subsidiary through a share exchange [6]. Group 4: Foxconn's Interest - Foxconn has shown interest in acquiring a stake in Nissan as part of its strategy to expand in the electric vehicle market, while emphasizing cooperation over acquisition [7].

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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]