FY2015 First-quarter Financial Results Nissan Motor Co., Ltd July 29, 2015 Key performance indicators : financial results (TSE report basis - China JV Equity basis) (billion yen) Operating Free cash flow Net cash Net revenue Net income* profit (Auto) (Auto) 1,447.1 2,899.4 193.7 2,465.6 916.3 152.8 122.6 112.1 109.5 3.3 FY14 FY15 1Q 1Q * Net income attributable to owners of the parent (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 2 FY15 business update FY15 1st quarter sales performance FY15 1st quarter consolidated financial performance (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 3 FY15 business update Product offensive continues Maxima in US Lannia in China (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 4 FY15 business update Common Module Families update X-Trail Hybrid in Japan Rogue production in Kyushu (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 5 FY15 business update LCV business NV200 Taxi in Japan NP300 Frontier (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 6 FY15 business update Quality and Brand Quality enhancement Brand value improvement ■ Largest rank improvement in J.D. ■ UEFA champions league partnership Power 2015 Initial Quality Study 5th ■ Nissan Stadium in US 23rd (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 7 FY15 business update Zero-emission leadership Infrastructure Business expansion ■ “No Charge to Charge” in US ■ Commercial use for second-life lithium-ion vehicle batteries ■ Partnership with Yokosuka city (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 8 FY15 business update Alliance ■ Cumulative EV sales of Alliance ■ Posted record synergies of reached 250,000 units 3.8 billion euros in 2014 (€ billion) 3.8 2.7 2.9 1.7 2011 2012 2013 2014 (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 9 FY15 business update FY15 1st quarter sales performance FY15 1st quarter consolidated financial performance (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 10 FY15 1st quarter sales performance: Global TIV *1 Retail volume *2 vs. FY14 *2 M/S 5.9% vs. FY14 M/S 5.7% 21.69 22.02 Global +1.5% 1,294 Global +4.4% 1.10 1,240 1.16 Japan -5.5% 120 Japan -10.0% 134 5.62 5.94 China +5.7% *4 *5 *3 296 China +11.3% 283 5.22 North 5.44 +4.3% North (4.42) America 486 +8.9% (4.57) 446 America (US) (+3.3%) (369) (350) (US) (+5.5%) (million units) 4.69 4.72 Europe +0.7% (thousand units) 171 189 Europe +10.7% 5.00 4.82 Others -3.8% 206 203 Others -1.6% FY14 FY15 FY14 FY15 1Q 1Q 1Q 1Q *2: Market Share *4: PV: Retail sales base, LCV: Wholesale base *1: Nissan’s estimation *3: Wholesale base *5: After adjustment for PV in 2014 to retail base (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 11 FY15 1st quarter sales performance: Japan ■ TIV: 1.10 million units, -5.5% Retail volume ■ Sales: 120 k units, -10.0% -10.0% ■ Market share: 11.0%, -0.5 points 134 120 (thousand units) ■ X-Trail: 11.7 k units FY14 FY15 ■ DAYZ / DAYZ ROOX: 28.2 k units 1Q 1Q Market share -0.5 points X-Trail DAYZ ROOX 11.0 (%) 11.5 FY14 FY15 1Q 1Q (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 12 FY15 1st quarter sales performance: China ■ FY15 1Q (Jan. to Mar.) *1 Retail volume • TIV*3 : 5.94 million units, +5.7% +11.3% • Sales: 296 k units, +11.3%*2 • Market share: 5.0%, +0.3 points*2 *2 296 266 • Sylphy series: 79.7 k units (thousand units) ■ FY15 2Q (Apr. to Jun.) FY14 FY15 • TIV *3 : 5.46 million units, +0.4% *2 1Q 1Q • Sales: 292 k units, +0.5% *2 Market share • Market share: 5.3%, 0.0 points +0.3 points X-Trail Sylphy (%) *2 4.7 5.0 FY14 FY15 * 1: PV: Retail sales base, LCV: Wholesale base 1Q 1Q * 2: PV volume was restated to retail sales base for comparison * 3: PV and LCV only (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 13 FY15 1st quarter sales performance: North America ■ US US Retail volume • TIV: 4.57 million units, +3.3% +5.5% • Sales: 369 k units, +5.5% 369 • Market share: 8.1%, +0.2 points 350 ■ Canada (thousand units) • Sales: 37 k units, +13.6% • Market share: 6.5%, +0.5 points FY14 FY15 1Q 1Q ■ Mexico US Market share • Sales: 80 k units, +25.0% +0.2 points • Market share: 26.3%, +0.7 points (%) 7.9 8.1 Altima Rogue FY14 FY15 1Q 1Q (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 14 FY15 1st quarter sales performance: Europe ■ TIV: 4.72 million units, +0.7% Retail volume +10.7% ■ Europe excluding Russia: 155 k units, +17.5% 189 ■ Russia: 34 k units, -12.6% 171 (thousand units) ■ Market share: FY14 FY15 FY14 FY15 1Q 1Q Europe excl. Russia 3.4% 3.6% Market share Russia 6.1% 8.5% +0.2 points Qashqai Pulsar (%) 3.8 4.0 FY14 FY15 1Q 1Q (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 15 FY15 1st quarter sales performance: Other markets ■ Estimated TIV: 4.82 million units, -3.8% ■ Sales: 203 k units, -1.6% Asia & Oceania: 87 k units, -3.9% Latin America: 42 k units, -2.5% Retail volume Middle East: 49 k units, -6.3% -1.6% Africa: 25 k units, +22.3% 206 203 (thousand units) NP300 Navara Datsun GO+ Panca FY14 FY15 1Q 1Q (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 16 FY15 business update FY15 1st quarter sales performance FY15 1st quarter consolidated financial performance (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 17 FY15 1st quarter financial performance (TSE report basis - China JV Equity basis) FY14 FY15 Change (billion yen) 1Q 1Q Variance vs. FY14 (%) Net revenue 2,465.6 2,899.4 +433.8 +17.6% Operating profit 122.6 193.7 +71.1 +58.0% OP margin 5.0% 6.7% Non-operating 26.2 22.2 Ordinary profit 148.8 215.9 +67.1 +45.2% Extraordinary -1.5 -1.9 Profit before tax 147.3 214.0 +66.7 +45.3% Taxes -30.8 -58.1 Effective tax rate 20.9% 27.1% Minority interest * -4.4 -3.1 Net income** 112.1 152.8 +40.7 +36.3% 102.2 JPY/USD 121.4 JPY/USD +19.2 JPY/USD FX rate 140.1 JPY/EUR 134.2 JPY/EUR -5.9 JPY/EUR * Net income attributable to non-controlling interests ** Net income attributable to owners of the parent (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 18 FY15 1st quarter financial performance (TSE report basis - China JV Equity basis) Operating profit variance analysis +64.5 (billion yen) +42.6 -41.9 193.7 -7.4 -3.2 +32.0 -15.5 122.6 FY14 FOREXCost items * Volume Marketing R&D MFG Other FY15 1Q / mix & exp. exp. items 1Q O.P. Selling exp. O.P. * Including purch. cost reduction, raw material and product enrichment (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 19 FY15 1st quarter financial performance (TSE report basis - China JV Equity basis) Free cash flow (Auto business) (billion yen) +86.6 +282.3 232.0 -110.0 -26.9 +3.4 109.5 -125.9 Net cash AP / AR InventoryTax / other Cash flow CAPEX* Others Free cash inflow from operating from flow P&L items activities operating activities * CAPEX does not include finance lease-related investments (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 20 Inventory management (excluding China JV) Inventory status 1,000 880 800 860 850 820 810 600 400 (thousand units) 200 0 2014 2015 Jun. Sep. Dec. Mar. Jun. Dealer inventory, except some minor countries Consolidated Nissan inventory, except some minor countries (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 21 Net Cash (Auto business) (TSE report basis - China JV Equity basis ) 2014 2015 (billion yen) (billion yen) 1,447.1 1,500 1,500 1,390.1 1,200 1,200 1,015.9 916.3 900 900 600 600 300 300 0 0 Mar. Jun. Mar. Jun. FX: JPY/USD 102.9 101.4 FX: JPY/USD 120.2 122.5 End of month End of month (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 22 Key performance indicators: financial results (management pro forma basis* ) (billion yen) Operating Free cash flow Net cash Net revenue Net income** profit (Auto) (Auto) 1,602.2 3,122.7 2,691.8 219.7 1,012.9 155.8 152.8 130.4 112.1 -24.0 FY14 FY15 1Q 1Q * Based on continuation of proportionate consolidation of China JV ** Net income attributable to owners of the parent (C) Copyright NISSAN MOTOR CO., LTD. www.nissan-global.com All rights reserved. 23 FY15 1st quarter financial performance (management pro forma basis* ) FY14 FY15 Change (billion yen) 1Q 1Q Variance vs.