reports
- GlobalData Department
Nissan Motor Co Ltd (7201) - Power - Deals and Alliances Profile
Summary Nissan Motor Co Ltd (Nissan) is an automobile manufacturer that carries out the design, production and sale of automobile products. The company’s product portfolio includes passenger vehicles, trucks, buses, marine vehicles, forklifts and related parts. The company offers automobiles under the brand names of Nissan, Infiniti and Datsun. Nissan also provides credit card and leasing services, non-life insurance and auto financing services. The company markets its products and services t...
- Richard Hilgert
Nissan Reports Mixed FY17 Results, FY18 Outlook also Mixed; Maintainin...
No-moat-rated Nissan reported fiscal 2017, ended March 31, diluted EPS of JPY 190.96, beating the consensus of JPY 184.41 by JPY 6.55, and JPY 25.02 better than the JPY 165.94 EPS reported last fiscal year. While consolidated revenue increased 2%, operating profit margin contracted 130 basis points to 5.6%. Despite lower margin, the EPS outperformance was driven by U.S. tax reform. The stock currently trades at a 23% discount to our JPY 1,450/ $26 fair value estimates. We think the 4-star rated ...
- Richard Hilgert
Raising Renault FVE to EUR 88 from EUR 79
After rolling our model to the next fiscal year on no-moat-rated Renault, we are raising our fair value estimate to EUR 88 from EUR 79. Most of the increase (EUR 5) was attributable to a 16% jump in the book value of the financial-services business as well as lower debt and an improved unfunded pension status. An additional EUR 2 was attributable to a lower tax rate on French tax reform and another EUR 2 for the time value of money since our last fair value update. With the shares trading at a 7...
- Richard Hilgert
After Nearly 20 Years of Courtship, Renault and Nissan May Tie the Kno...
Media reports circulating on March 29 have purported that no-moat-rated Renault and Nissan are in talks to merge. The two automakers have been alliance partners, with Renault first owning a stake in Nissan, since 1999. Today, Renault owns roughly 43% of Nissan while Nissan holds about a 15% stake in Renault. The two companies had announced earlier this month that the alliance management team was negotiating closer integration to extract additional cost savings from economies of scale. One impedi...
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