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Fiscal 2010 Financial Performance
Net sales
For fiscal year 2010, consolidated net revenues increased 16.7%,
to ¥8.773 trillion, which reflected sales volume increase in spite of
the strong yen.
Operating profit
Consolidated operating profit totaled ¥537.5 billion, which was
improved 72.5% from last year. In comparison to last year’s
consolidated operating profit, the variance was due to the following
factors:
• Foreign exchange rate movements resulted in a ¥147.5 billion
negative impact. By currency, the majority of this variance was
due to the impact of the U.S. dollar at ¥117.3 billion, the
Russian ruble at ¥17.7 billion and the Canadian dollar at ¥1.8
billion.
• Net purchasing cost reduction efforts were a positive ¥105.8
billion. This included the negative impact from the increase in
raw material and energy cost by ¥85.2 billion.
• Volume and mix was a positive ¥433.1 billion due to the
increase in global sales volume.
• The increase in marketing and sales expenses was a negative
¥191.5 billion. This mainly came from the sales incentive
increase related to sales volume increase.
• R&D costs increased ¥18.5 billion.
• Sales financing contributed a positive ¥29.5 billion. This was
due mainly to improved borrowing costs across the globe and
lower credit loss ratio compared to fiscal year 2009.
• The remaining variance was a positive ¥15 billion, due mainly to
the increase in profit from affiliated companies.
1,200
(Billions of yen)
900
600
0
300
−300
OPERATING PROFIT
’10
537.5537.5
(Forecast)
’11
460.0
’07
790.8790.8
’08
–137.9
’09
311.6
(Billions of yen)
FY09
O.P.
FY10
O.P.
IMPACT ON OPERATING PROFIT
Raw
material
/energy
cost
Mfg.
exp.
R&D
exp.
FOREX Selling
exp. Warranty
exp.
Purch.
cost
reduction
Resale of
returned
lease
vehicles
Volume/
mix AFLSales
finance After sales
&
others
311.6
311.6
537.5
-147.5
–147.5
–85.2
+191.0
–191.5
–19.8 –18.5
+433.1
–11.7 –7.1
+29.5 +32.2 +21.4
Financial Review
Performance
Corporate Data Corporate GovernanceMid-term Plan
21
NISSAN Annual Report 2011