Nissan Q3 Profit Plummets 44% but Loss Narrows, Full-Year Outlook Brightens

Nissan Motor reported an operating profit of JPY 17.5 billion for the third fiscal quarter of FY2025 (October–December), a 44% year-over-year decline primarily due to U.S. tariffs—but still significantly better than the market’s expectation of an JPY 81 billion operating loss. The company posted net revenue of JPY 3 trillion for the quarter, down 5% year-over-year, and a net loss of JPY 28.3 billion, narrower than the same period last year. Buoyed by the stronger-than-expected results, Nissan sharply raised its full-year outlook, now forecasting an operating loss of JPY 60 billion for the fiscal year ending March 31, 2025—far below its previous estimate of JPY 275 billion. The upbeat guidance sent Nissan’s shares surging as much as 8.4%. CEO Ivan Espinosa stated that the company’s restructuring plan is yielding results, having already cut over JPY 80 billion in fixed costs and advanced product renewals, including updated versions of the Leaf, Kicks, and the Rogue plug-in hybrid. However, analysts cautioned that Nissan’s recovery remains heavily reliant on cost-cutting, with insufficient momentum in its core business growth.