Nissan 2011 Annual Report Download - page 10

A Year of Record Performance
Nissan’s performance in fiscal 2010 was comprehensively solid. We made progress in all of the key
metrics of our business. First, Nissan’s global sales reached 4,185,000 units. This was up 19.1% from
fiscal 2009 and represents an all-time record for our company. Another record was our full-year global
market share of 5.8%, the highest level we have achieved since we began tracking this.
Even more encouraging was that our growth was broad based. We enjoyed double-digit growth or
record share achievements in a number of individual markets around the world, including key ones like
the United States and China—which last year became our single largest market, with more than a
million units sold.
Turning specifically to the financial metrics, we saw consolidated net revenues reach ¥8.8 trillion, up
16.7% from the previous year. Operating profit stood at ¥537.5 billion, reflecting an operating profit
margin of 6.1%, and was up 72.5% from fiscal 2009. Our net income was ¥319.2 billion, for a net
income margin of 3.6%. This was fully ¥276.8 billion higher than in fiscal 2009. Additionally, we saw
strong automotive free cash flow of ¥459.3 billion. As a result, we eliminated automotive net debt and
moved to a net cash position of ¥293.3 billion.
It is important to note that none of these successes came at the expense of our longer-term
priorities. During fiscal 2010, we remained committed to the launch of affordable zero-emission cars,
our ongoing expansion in China, the rollout of low-emission PURE DRIVE technologies and expanded
participation in affordable transportation segments in line with our strategy to offer mobility for all.
It was a very solid year for Nissan, and these results were all the more striking for being achieved in
a very challenging business environment that included adverse foreign exchange movements,
escalating raw material prices and, at the close of the year, the March 11 earthquake and tsunami that
devastated northeastern Japan.
Sure-Footed Responses to March 11
Unfortunately, this natural disaster threw us back into “recovery mode.” As we entered fiscal 2011, the
priority for us was to re-establish normal operations as quickly as possible to maintain our positive
momentum. Nissan is well positioned for success in this regard thanks to the DNA of our company,
which has evolved and been enhanced through previous bouts of adversity. We naturally work in a
collaborative manner, across both functional and regional boundaries, and we have a bias toward
action.
Our actions after this latest crisis hit were no different. We were very focused and utilized people
from across the organization. Immediately after the earthquake hit, Nissan’s Global Disaster Control
Headquarters, led by our COO, was convened to evaluate the impact on our operations and to oversee
Joseph G. Peter Chief Financial Officer
Nissan was well positioned to recover from the
nancial crisis and recorded its best year ever in
scal 2010. The company has responded swiftly
and surely to the March 11 disaster, and is now
positioned to fully transition from recovery mode
to sustainable growth.
Moving Powerfully into
Nissan’s Future
Message from the CFO
Mid-term Plan
Performance Corporate Data Corporate Governance
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NISSAN Annual Report 2011