NSANF - Nissan Motor Co. Ltd. (NSANY) Q4 2023 Earnings Call Transcript
2024-05-09 18:28:10 ET
Nissan Motor Co., Ltd. (NSANY)
Q4 2023 Earnings Conference Call
May 9, 2024, 5:30 AM ET
Company Participants
Julian Krell - Head, Investor Relations
Makoto Uchida - Chief Executive Officer
Stephen Ma - Chief Financial Officer
Conference Call Participants
Shinji Kakiuchi - Morgan Stanley MUFG Securities
Kota Yuzawa - Goldman Sachs
Arifumi Yoshida - Citigroup Inc.
Kohei Takahashi - UBS Securities
Chie Kishimoto - JPMorgan Securities
Eiji Hakomori - Daiwa Securities
Presentation
Julian Krell
Welcome everyone to the Nissan Financial Results for the Fiscal Year 2023 the Investors and Analysts Session. This is Julian Krell speaking, Head of Investor Relations. Thank you very much for joining. The presentation material can be found on the Nissan IR website. Please be informed of the disclaimer included on the last page of the document and read it carefully. Thank you.
For today’s financial results presentation, I am joined by Mr. Uchida, CEO; and Mr. Ma, CFO. First, Mr. Uchida, CEO, will talk about Nissan NEXT Review, followed by the highlights of the fiscal year 2023 results. Then Mr. Ma, CFO, will explain the financial results. Finally, CEO, Uchida will talk about the fiscal year 2024 outlook, briefly touch on the Arc, our new business plan and shareholder return. This will be followed by a Q&A session.
I am now handing over to Mr. Uchida. Thank you very much for your time.
Makoto Uchida
Thank you for joining us for Nissan’s fourth quarter results for the 12-month period ending March 31, 2024. Today, we will recap the progress achieved during the Nissan NEXT Midterm Plan, which concluded at the end of March this year. And Stephen will take you through the details of our full year and fourth quarter results. I will then explain our outlook for the new fiscal year and priorities of our new business plan, the Arc.
Our business transformation plan, Nissan NEXT focus on the three areas. Rationalization of both our product portfolio and production capacity, prioritizing the markets and product segments where Nissan is strongest and investment for the future in areas including electrification, autonomous driving and battery technology.
With these actions, we achieved our goal of both reducing production capacity and streamlining our product portfolio by 20%. We launched all 12 models ahead of schedule and the quality of sales improved. We elevated our Alliance to the next level. Taken together, these actions refocus Nissan on generating value rather than seeking volume.
These steps laid a solid foundation for future growth while maintaining profitability. We have refreshed our model portfolio, achieved solid profitability, free cash flow and net cash are improving significantly. We have made strategic investments in future products, technologies and enhanced our partnerships. We have prioritized returns to shareholders, as shown by our resumed dividend....
Nissan Motor Co., Ltd. (NSANY) Q4 2023 Earnings Call Transcript