Nissan Motor (7201 JT) - FY25/26 (JPY): Net -533bln (prev. -671bln Y/Y), Operating Income 58bln (prev. 69.8bln Y/Y), Revenue 12tln (prev. 12.6tln Y/Y), does not plan FY26 dividends, sees positive auto FCF in H2; announces JPY 240bln impairment loss

• Net -282.9bln (exp. -305bln).

Nissan's financial results for FY25/26 highlight a smaller net loss than previously expected but show declines in both operating income and revenue compared to the prior year. Notably, the decision to forgo dividends for FY26 signals underlying challenges, despite an anticipated positive free cash flow in the second half. The announced impairment loss adds to a cautious outlook and may influence investor sentiment towards the automotive sector.