autos · Renault-Nissan Alliance
Nissan Motor
Japan's #3 automaker and a pillar of the Renault-Nissan-Mitsubishi Alliance — but the story here is a turnaround it cannot self-fund. The FY2024 net loss of ¥670.9bn (its first in four years) is structural, not cyclical: having lost product cadence and pricing power, its auto business ran a ¥268.0bn operating loss even as rivals grew, and group operating profit (¥69.8bn) was propped up almost entirely by Sales Financing. After merger talks with Honda collapsed in February 2025, Nissan is pushing recovery from a position of weakness — cutting plants 17→10 and ~20,000 jobs (Re:Nissan) while leaning on a 15% cross-shareholding with Renault — with Macquarie's upgrade ('the worst is behind us') anchoring the bottoming debate.
Business categories Automakers · Automotive & Mobility · primary
7201.T Updated Sep 24, 2026 5 AI consumers· 4 recurring
Per the valuechain.wiki graph, Nissan Motor is directly linked to 3 companies (2 supply, 0 revenue, 1 investment relationships) and reaches 12 companies within two hops; the links are backed by 9 dated sources, 2 of them primary filings (as of 2026-09-24).
Financials & Segments
- Total revenue · ¥12,633.2bn (FY2024 consolidated revenue) — but operating profit ¥69.8bn (-87.7%) and a ¥670.9bn net loss, with Sales Financing barely masking the auto business's losses
- Segments · Automotive · Sales Financing
Revenue from
- Global vehicle customers High confidence
Automotive segment third-party sales ¥11,437.9bn (FY2024), segment operating loss ¥268.0bn. Global retail 3.346M units (N.America 1.30M, China 0.70M, Japan 0.46M, Europe 0.35M). Consolidated net loss ¥670.9bn — first annual loss in four years.Confirms EN Nissan Published May 13, 2026: Nissan FY2025 (year ended March 2026) results — revenue ~JPY 12tn, operating profit JPY 58.0bn, net loss JPY 533.1bnMentions EN Macquarie (via Investing.com) Published Feb 13, 2026: Macquarie upgrades Nissan to Neutral from Underperform, raises PT to ¥400 (analyst James Hong): 'the worst is behind us as restructuring is ahead of plan'Confirms KO Money Today Published May 14, 2025: Nissan posts record loss, to close 7 plants and cut 20,000 jobsConfirms EN Nissan Motor Published May 13, 2025: FY2024 Consolidated Financial Results (Japanese Accounting Standards) - Sales-financing customers & dealers High confidence
Nissan's last line of profitability — revenue ¥1,195.4bn and operating profit ¥285.6bn kept group operating profit (¥69.8bn) positive in a loss-making FY2024. Dealer/consumer installment and lease financing is downstream of new-car sales, yet with vehicle margins collapsed it now props up the group — a reversal that thins if sales don't recover.Confirms EN Nissan Motor Published May 13, 2025: FY2024 Consolidated Financial Results (Japanese Accounting Standards)
Pays to
- Expeditors International of Washington, Inc. High confidence
Nissan Motor began working with Expeditors in 1993 for customs brokerage of vehicles and service parts shipped from Japan to the United States. Nissan later expanded the scope to high-volume just-in-time imports, manufacturing operations and a technical center, and presented Expeditors with a Business Expansion Award in 2017. - SK Innovation (SK On) Medium confidence
The sourcing bottleneck — and risk — of Nissan's EV shift: SK Battery America is to supply 99.4GWh of high-nickel cells from Kentucky (~KRW 15tn, 2028-2033), but the deal's scale rides on Nissan's EV lineup succeeding. With Nissan EV delays reported, execution is uncertain, making this a conditional volume tied to the turnaround rather than firm backlog. - AESC (Envision AESC) Medium confidence
Nissan's long-standing battery partner (formerly Automotive Energy Supply). Cells for the new Leaf and Ariya; Sunderland gigafactory (initial 15.8 GWh) now running — core of Nissan's EV36Zero hub.Confirms EN electrive Published Dec 17, 2025: AESC opens Sunderland gigafactory, cells for the new Nissan Leaf (initial 15.8 GWh) - Steel, parts & semiconductor supply chain Medium confidence
Steel, drivetrain/electronic parts and semiconductors — the bulk of vehicle COGS. Re:Nissan targets ¥240bn variable and ¥160bn fixed cost cuts to reshape the cost base (per Macquarie, both exceeding targets).Mentions EN Macquarie (via Investing.com) Published Feb 13, 2026: Macquarie upgrades Nissan to Neutral from Underperform, raises PT to ¥400 (analyst James Hong): 'the worst is behind us as restructuring is ahead of plan'
Investors
- Renault High confidence
Backbone of the Renault-Nissan Alliance. In the 2023 rebalancing Renault cut its Nissan stake from 43.4% to 15% (transferring 28.4% into a French trust) and Nissan regained voting rights on its 15% of Renault — a balanced 15% cross-shareholding.Confirms EN Nissan Motor Published Nov 8, 2023: Renault Group and Nissan complete agreements framing the new chapter of the Alliance (15% cross-shareholding)
Investments
- Mitsubishi Motors High confidence
Nissan became the largest shareholder with a 34.07% stake acquired in 2016 (third pillar of the Alliance). In Nov 2024 Nissan sold into Mitsubishi's buyback, cutting the stake to ~24% (cash and greater mutual autonomy).Confirms EN Nissan Motor Published Nov 7, 2024: Nissan sells portion of Mitsubishi Motors' shares (34.07% to ~24%)
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Nissan Motor | node | +14.2 | -23 | +30.6 | -25.4 | -11.8 | -24.7 |
| Expeditors International of Washington, Inc. | benef1 | +42.5 | -21.7 | +23.9 | -11.9 | +36.2 | +27.4 |
| SK Innovation (SK On) | benef1 | -22.9 | -22.4 | -26.2 | +8.9 | -10.6 | +23.5 |
| Mitsubishi Motors | benef1 | +37.1 | +53.5 | -3.9 | +0.9 | -15.3 | -1.3 |
| Daejoo Electronic Materials | benef2 | +98.4 | -2.3 | -19.4 | +48.5 | -25.9 | +11.6 |
| L&F | benef2 | +139.2 | +22.4 | -30.3 | -38.6 | +43.4 | -8 |
| Advanced Nano Products | benef2 | +56.8 | +66.4 | +13.9 | -30.9 | +5.5 | -8.1 |
| Ronbay Technology | benef2 | +96.6 | -39.1 | -63.6 | +12.3 | +47.7 | -20 |
| SKC | benef2 | +18.1 | -31.9 | -19.7 | +104.3 | -25.4 | -28 |
| SK IE Technology | benef2 | · | -41.9 | +11.1 | -69 | +18.9 | -32 |
| PNT (People & Technology) | benef2 | +62.2 | +11.6 | -17.8 | +12.2 | +31.1 | -44.3 |
| EcoPro BM | benef2 | +79.2 | +23.9 | +113.5 | -38.6 | +77.1 | -54.3 |
| Enchem | benef2 | · | -37.4 | +173.9 | -20.5 | -26.1 | -79 |
YTD as of 2026-10-09 · source: Yahoo Finance
Nissan Motor operates across Nikkei 225, autos, Renault-Nissan Alliance. It remained weak at -11.8% in 2025 and -16.5% in 2026. The supply side (avg +23.5%) leads the stock (-16.5%), with spending rippling down to suppliers first. After merger talks with Honda collapsed in February 2025, Nissan is pushing recovery from a position of weakness — cutting plants 17→10 and ~20,000 jobs (Re:Nissan) while leaning on a 15% cross-shareholding with Renault — with Macquarie's upgrade ('the worst is behind us') anchoring the bottoming debate.
Analysis generated from returns as of 2026-09-04← All companiesMarkdown · JSON · Customers · Suppliers · Ripple