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Nissan's profit plummeted, and Nissan's profit fell in the second quarter

[sharp decline in Nissan's profits] two weeks after the promulgation of several resolutions on personnel changes at the beginning of this month, Nissan released its second quarter financial report (July 1-September 30).

According to the financial report, Nissan's revenue in the second quarter was 2.63 trillion yen (about US $24.124 billion), down 6.6% year-on-year; The operating profit was 30 billion yen (about US $275 million), down 70.4% year-on-year.

In this regard, Nissan's official statement is that affected by changes in the external environment, such as exchange rate fluctuations, compliance supervision expenses, rising raw material prices and corresponding increased costs to improve product quality, the net income in the second quarter of the fiscal year decreased by 54.8% to 59 billion yen (about $541 million).

In fact, it's not easy for Nissan to say in the past. Since the arrest of former chairman Ghosn on charges of financial misconduct and serious breach of trust on the eve of the end of last year, the whole Nissan personnel has been in a state of turmoil. Nissan also ushered in an unprecedented period of turbulence.

Until 19 p.m. Beijing time on October 8, Nissan held a press conference in Tokyo and announced the appointment of Makoto Uchida, the current senior vice president of Nissan and President of Dongfeng Motor Co., Ltd., as the representative executive officer and CEO of Nissan. This is also the third CEO of Nissan in three years.

Within a month after the CEO candidate was determined, Nissan announced a number of personnel change resolutions again. According to the resolution of the special meeting of the board of directors held on November 1, the senior appointments and areas of responsibility representing the executive officer and the executive officer level, as well as a number of other personnel appointments have been confirmed and adopted, and the appointment will officially take effect from December 1, 2019.

According to the resolution of the meeting, the positions and responsibilities of Hideyuki Sakamoto, Asako Hoshino and Kunio nakaguro remain unchanged. Based on the above appointment, Yasuhiro Yamauchi will resign as the representative executive officer, acting president, CEO and chief operating officer of Nissan Motor Company and continue to serve as the director of Nissan Motor Company. In addition, Hiroshi Karube, CEO and CFO of Nissan, Hitoshi Kawaguchi, CEO and executive vice president of Nissan, and Philip & middot, CEO and chief planning officer of Nissan; Philippe Klein will leave office.

It is not surprising that frequent personnel changes have a great impact on business. The second quarter results just reflect this.

At present, Nissan is implementing a global business recovery plan. According to the plan, Nissan will lay off 12500 employees, accounting for about 10% of the global employees. And the company will complete 10% capacity reduction by 2023 to control costs.

Perhaps Nissan's performance in the Chinese market can give it a little comfort.

According to the latest sales statistics, in October, Dongfeng Nissan, a joint venture of Nissan in China, sold 108000 units, a slight increase year-on-year; From January to October, the cumulative terminal sales volume was 926200 vehicles.

Among them, a number of models have achieved contrarian growth. In terms of cars, the terminal sales volume of Xuanyi was 42600 in October, a year-on-year increase of 6.3%. Teana's terminal sales volume in October was 10100, breaking 10000 for two consecutive months. In terms of SUV, Qijun's terminal sales volume in October was 18000. The terminal sales volume of Xiaoke in October was 18400, a year-on-year increase of 9.3%.