Nissan Motor Co. Ltd.

Nissan Motor, along with its subsidiaries and associated companies, is engaged in the manufacture and sale of vehicles, marine products and related parts; and the provision of finance services throughout world. Co.'s principal businesses are automobile and sales financing. Automobile segment manufactures electric vehicles, sedans, sport coupes, compact cars, mini vans, SUVs, pick-up trucks, and station wagons. Co.'s principal brand names include "Leaf," "Infiniti," "Murano," "Altima," "Maxima," "Sentra," "Quest," "Cedric," "Days Roox," "e-NV200," "Note e-Power," "Caravan," "Wingroad," "GT-R," "Farilady Z, among others. Sales Financing segment provides sales financing services..
  • Ticker7201
  • ISINJP3672400003
  • SectorAutomobiles & Parts
  • CountryJapan

Analysts

Ahmed Ben Salem ...
  • Bruno Cavalier
  • Charles Lepetitpas
  • Emira Sagaama
  • François Maury
  • Georges Dieng
  • Johanna Jourdain
  • Matthias Desmarais
  • Nicolas David
  • Sven Edelfelt
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/14/2019

...

François Maury ...
  • Georges Dieng

Nissan : Vers un T2 encore difficile - possible remise en cause des objectifs 2019

>T2 FY19 : trimestre à nouveau difficile dans l’Auto - Au cours du T1 FY19, Nissan a dégagé un résultat opérationnel décevant (-99% à 1.6 MdJPY avec -54.7 MdJPY /Auto et +56.4 MdJPY /FS). La dégradation (-107 MdJPY) provenait i) de headwinds (-9.8 MdJPY /FX et -12.9 MdJPY /matières), ii) d’une baisse des volumes (-13.5% /wholesales soit -72.4 MdJPY) avec une baisse des ventes retail hors Chine (-8.8%) accentuée par une réduction des stocks dealer (68 k-unités) et av...

Ahmed Ben Salem ...
  • Bruno Cavalier
  • Charles Lepetitpas
  • Emira Sagaama
  • François Maury
  • Georges Dieng
  • Johanna Jourdain
  • Matthias Desmarais
  • Nicolas David
  • Sven Edelfelt
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 14/10/2019

...

François Maury ...
  • Georges Dieng

Nissan : A difficult Q2 in prospect - FY19 targets possibly called into question

>Q2 FY19: another difficult quarter for the auto division - For Q1 FY19, Nissan posted a disappointing operating result (-99% to JPY 1.6bn with -JPY 54.7bn for the auto division and +JPY 56.4bn for FS). The deterioration (-JPY 107bn) principally stemmed from: i) headwinds (-JPY 9.8bn forex and -JPY 12.9bn raw materials), ii) a decline in volumes (-13.5% for wholesale, i.e. - JPY 72.4bn) with a fall in retail sales outside China (-8.8%) accentuated by stock reduction...

Bruno Cavalier ...
  • Charles Lepetitpas
  • François Maury
  • Georges Dieng
  • Laurence Hofmann
  • Michael Foundoukidis
  • Nicolas David

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/07/2019

Given still-fragile fundamentals for the industry and limited visibility, we think the recent auto supplier rally is premature. While 2019 should not have any more major unpleasant surprises in store, market expectations for 2020 still look too ambitious (~6%) in light of our scenario for production to decline further (-0.7%). On this basis, we are keeping to our cautious stance on auto suppliers. Within the segment, Plastic Omnium is still our Top Pick (Buy), while Valeo is our least...

François Maury ...
  • Georges Dieng

Nissan : Vers un T2 encore difficile - possible remise en cause des objectifs 2019

>T2 FY19 : trimestre à nouveau difficile dans l’Auto - Au cours du T1 FY19, Nissan a dégagé un résultat opérationnel décevant (-99% à 1.6 MdJPY avec -54.7 MdJPY /Auto et +56.4 MdJPY /FS). La dégradation (-107 MdJPY) provenait i) de headwinds (-9.8 MdJPY /FX et -12.9 MdJPY /matières), ii) d’une baisse des volumes (-13.5% /wholesales soit -72.4 MdJPY) avec une baisse des ventes retail hors Chine (-8.8%) accentuée par une réduction des stocks dealer (68 k-unités) et av...

François Maury ...
  • Georges Dieng

Nissan : A difficult Q2 in prospect - FY19 targets possibly called into question

>Q2 FY19: another difficult quarter for the auto division - For Q1 FY19, Nissan posted a disappointing operating result (-99% to JPY 1.6bn with -JPY 54.7bn for the auto division and +JPY 56.4bn for FS). The deterioration (-JPY 107bn) principally stemmed from: i) headwinds (-JPY 9.8bn forex and -JPY 12.9bn raw materials), ii) a decline in volumes (-13.5% for wholesale, i.e. - JPY 72.4bn) with a fall in retail sales outside China (-8.8%) accentuated by stock reduction...

Bruno Cavalier ...
  • Charles Lepetitpas
  • François Maury
  • Georges Dieng
  • Laurence Hofmann
  • Michael Foundoukidis
  • Nicolas David

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/07/2019

Given still-fragile fundamentals for the industry and limited visibility, we think the recent auto supplier rally is premature. While 2019 should not have any more major unpleasant surprises in store, market expectations for 2020 still look too ambitious (~6%) in light of our scenario for production to decline further (-0.7%). On this basis, we are keeping to our cautious stance on auto suppliers. Within the segment, Plastic Omnium is still our Top Pick (Buy), while Valeo is our least...

Bruno Cavalier ...
  • Charles Lepetitpas
  • François Maury
  • Georges Dieng
  • Laurence Hofmann
  • Michael Foundoukidis
  • Nicolas David

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 07/10/2019

...

François Maury ...
  • Georges Dieng

ODDO : Top 5 car market in Europe: +11.7% in September, i.e. -1.2% YTD

>+11.7% in September 2019 (-22.3% in September 2018) - Car registrations for the Top 5 Europe market (over 70% of EU+EFTA volumes) were up by 11.7% in September, i.e. down 1.2% YTD. All markets were up: Germany (+22.2%), Spain (+18.3%), France (+16.6%), Italy (+13.4%) and the UK (+1.3%). The majority of carmakers were penalised by an unfavourable base effect linked to the WLTP coming into effect in September 2018. To recap, the Top 5 market had declined by 2...

Ahmed Ben Salem ...
  • Bruno Cavalier
  • Charles Lepetitpas
  • Emira Sagaama
  • François Maury
  • Georges Dieng
  • Johanna Jourdain
  • Matthias Desmarais
  • Nicolas David
  • Sven Edelfelt
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/14/2019

...

Ahmed Ben Salem ...
  • Bruno Cavalier
  • Charles Lepetitpas
  • Emira Sagaama
  • François Maury
  • Georges Dieng
  • Johanna Jourdain
  • Matthias Desmarais
  • Nicolas David
  • Sven Edelfelt
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 14/10/2019

...

Anis Zgaya ...
  • Christophe-Raphaël Ganet
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Philippe Ourpatian
  • Rémi Adam
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/15/2019

...

Anis Zgaya ...
  • Christophe-Raphaël Ganet
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Philippe Ourpatian
  • Rémi Adam
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 15/05/2019

...

PSA Autos: US Auto Sales for Feb 2019 - Monthly Update

Feb 2019 US Auto Sales Decline on Lower Incentives and Winter Storms US auto sales declined 2.9% YoY to 1.26mil vehicles in Feb, as poor weather conditions plus restraint on the incentives front kept customers out of showrooms. SAAR fell to 16.61mil units – the lowest level since Aug 2017. As we saw in Jan, the bad weather spell dampened demand for light trucks, which rose by only +1.2% YoY. Passenger cars sales continued to be weak (-11% YoY). Market observers also noted that the US government shutdown and lower tax refunds negatively impacted Feb auto sales. Julie Boote comments on the perfo...

NISSAN MOTOR CO.LTD. sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of NISSAN MOTOR CO.LTD. (JP), a company active in the Automobiles industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date September 20, 2019, the closing price was JPY 709.30 and its potential was estimated at JPY 778.31.

Bahari Hazim

Nissan Motor Co

null

Bahari Hazim

Nissan Motor Co

null

Bahari Hazim

Nissan Motor Co

null

Bahari Hazim

Nissan Motor Co

null

PSA Autos: Japanese Assemblers at the Geneva Motor Show – Impressions

Analyst Julie Boote returns from the Geneva Auto Show and provides her impressions and photos of what is on offer by the Japanese.

PSA Autos: Carlos Ghosn Arrested – Concern Over Future of Alliance. Implications for Nissan Motors (7201 JT) and Mitsubishi Motors (7211 JT)

Summary With the arrest of Carlos Ghosn, Julie Boote discusses the future of Renault's alliance with Nissan Motors (7201 JT) and Mitsubishi Motors (7211 JT)

PSA Autos: US Auto Sales August – SAAR Falls to One-Year Low

US auto sales fell 0.2% YoY to 1.48mil units in August, with SAAR reaching 16.69mil units, which is the lowest level since Aug 2017 when hurricane Harvey disrupted sales. Given that both the base of comparison was quite low, and the number of sales days was the same as in August last year, this was a mediocre performance overall. Some automakers are trying to rein in incentives, which hurts demand; according to auto data provider ALG, average incentives rose by only 0.7% YoY. The move away from passenger cars towards light trucks is ongoing, with August passenger car sales down as much as 19% ...

PSA Autos: June 2018 US Auto Sales: Japan Automakers All Record Sales Gains

US auto sales increased 5% YoY to 1.54 mil vehicles in June, with SAAR reaching 17.47mil units, the highest level since March. June 2018 had one more selling day than June 2017, indicating that DSR-adjusted sales would have risen by 1% YoY. Sales in CY18 1H finished 1.8% YoY higher – better than expected by market observers, and by PSA. Analyst Julie Boote comments on the outlook for 2H 2018 and the performance of the Japanese OEMs.

Will Nissan (7201 JP) Surprise on the Upside in FY2018?

The market brushed aside Nissan’s FY18 below consensus estimates. Was it right to do so? Analyst Julie Boote sizes up Nissan’s prospects.

ResearchPool Subscriptions

Get the most out of your insights

Get in touch