TU-TESL

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According to the published financial report for the first half of fy19f (April 1, 2019 to September 30, 2019, hereinafter referred to as the first half of fy19f), its revenue in the first half of fy19f was 5033.1 billion yen, down 9.6% year-on-year; net profit was 65.4 billion yen, down 73.5% year-on-year. In terms of sales volume, Nissan's global sales volume in the first half of the fiscal year was 2.51 million units, down 6.8% year-on-year, which was faster than the overall slowdown of the global auto industry (global auto industry sales fell 5.9%). Among them, Nissan's sales volume in the local market of Japan was 281000, down 1.3% year-on-year; sales volume in the U.S. market was 679000, down 4.3% year-on-year; sales volume in the European market was 265000, down 19.7% year-on-year; sales volume in other regions including Oceania and Latin America was 360000, down 11.4% year-on-year. "Nissan's sales in major global markets have generally declined." compared with other regional markets, the performance of the Chinese market is the best. In the first half of the fiscal year, Nissan's sales volume in China was 718000, basically the same as last year's sales volume data, while its market share reached 6.2%, up 0.8 percentage points. "China is Nissan's most stable market." in addition, Nissan also released its new forecast for fy2019. According to Nissan's forecast, in fy2019, its global sales volume is 5.24 million vehicles, 5.4% lower than the previous expectation; its revenue will reach JPY 10.6 trillion, 6.2% lower than the previous expectation; its net profit will reach JPY 110 billion, 35.3% lower than the previous expectation. Since the outbreak of "ghorn incident", Nissan's new CEO, Nathaniel, has had a great deal of turbulence in its global operation, leaving the new CEO, Nathaniel, a very difficult situation, and the performance level in the first half of fy19f even added to the pressure of Nathaniel. Fortunately, Nissan's performance in the Chinese market is still stable. How to rely on the Chinese market to boost its global market should be an important issue for Mr. Uchida to consider next.