预期亏损扩大，日产复苏计划“刻不容缓”

Core Viewpoint - Nissan has reported significant financial losses for the first quarter of the 2025 fiscal year, attributing these losses to currency fluctuations and U.S. tariff policies, alongside a decline in global sales, particularly in the Chinese market [1][3][11]. Financial Performance - Nissan's net sales for the first quarter amounted to 2.7 trillion yen, a year-on-year decrease of 9.7% [1]. - The company recorded a net loss of 115.76 billion yen, a shift from a net profit of 28.56 billion yen in the same period last year [1]. - Operating losses reached 79.1 billion yen, compared to an operating income of 9.95 billion yen in the previous year [1]. Sales and Market Performance - Global retail sales for Nissan fell to 707,000 units, a decline of 10.1% year-on-year [3]. - In the Chinese market, Nissan's sales dropped by 27.5%, highlighting intense competition and a shrinking non-luxury joint venture segment [3]. - The U.S. market remains Nissan's largest, contributing 1.08 trillion yen, but saw a year-on-year decline of 10.23% [6]. Regional Sales Breakdown - Sales in Asia, including China, saw the largest decline, with net sales of 135.6 billion yen, down nearly 30% [7]. - The company plans to integrate powertrain production capacity and export models manufactured in China to overseas markets [7]. Electric Vehicle Strategy - Nissan has launched its first self-developed pure electric model, the N7, in China, with a total of over 10,000 units delivered within a month and a half of its launch [8]. - The company aims to introduce 10 new electric models in China by summer 2027, expanding its product offerings across various vehicle types [8]. Cost-Cutting and Restructuring Plans - Nissan has initiated a revival plan named "Re:Nissan," which includes cost optimization measures such as laying off 20,000 employees and closing seven global factories [9][10]. - The company expects to save 500 billion yen in costs by the 2026 fiscal year [9]. - Specific factory closures include the Civac plant in Mexico and the shutdown of the Oppama plant in Japan by the 2027 fiscal year [10]. Future Outlook - Nissan has not disclosed profit forecasts for the 2025 fiscal year but anticipates further losses, with operating losses potentially reaching 180 billion yen and net sales of 5.5 trillion yen for the first half [8]. - The company projects a 2.9% decline in global sales to 3.25 million units, primarily due to an expected 18.2% drop in the Chinese market [8].