Like Its Partner Nissan, Renault Has Weak 2q, Lowers Revenue Forecast - Autoblog

Like its partner Nissan, Renault has weak 2Q, lowers revenue forecast - Autoblog

PARIS — Renault warned revenue may decline this year, scrapping a previous goal, after first-half profit was hit by weakening car demand and an earnings collapse at alliance partner Nissan in the wake of the Carlos Ghosn scandal. Net income slumped by more than half to 970 million euros ($1.08 billion) in January-June as revenue fell 6.4% to 28.05 billion, the French carmaker said on Friday. Operating profit also dropped 13.6% to 1.65 billion euros. "Given the degradation in demand, the group now expects 2019 revenues to be close to last year's," Renault said — abandoning an earlier pledge to increase revenue before currency effects. A broad-based auto sales downturn has rattled the sector, prompting profit warnings and compounding challenges for Renault and Nissan as they struggle to turn the page on the Ghosn era. Their former alliance boss is now awaiting trial in Japan on financial misconduct charges he denies. Renault's bottom line was hit by an 826 million-euro drop in earnings from its 43.4%-owned partner. Nissan is cutting 12,500 jobs globally after an earnings collapse that it is keen to blame on Ghosn's leadership. But Renault's own performance - reflected in an operating margin that declined to 5.9% from 6.4% the year before - compares less favorably with domestic rival PSA Group. The Peugeot maker bucked the downturn with a record 8.7% profit margin unveiled on Wednesday. Alliance tensions flared after Ghosn's November arrest, worsened when Renault tried in vain to merge with Nissan then Fiat Chrysler, and may be affecting operational performance, investors fear. Citi analyst Raghav Gupta-Chaudhary flagged a lower-than-usual 258 million euros in joint purchasing savings for Renault. "We thought this would be weak in light of the well-documented difficulties with the alliance," he said. Renault blamed falling sales in France, as well as Turkey and Argentina, for a 7.7% revenue drop at its core automotive business, whose profit margin slid to 4% from 4.5%. Operating free cash flow also suffered, coming in at a negative 716 million euros as investment jumped by 742 million euros to 2.91 billion. Renault, which is counting on model launches including a new Clio mini to boost performance in the second half of 2019, nonetheless reiterated pledges to deliver positive full-year cash flow and a margin close to 6%. Renault shares were down 0.5% at 52.02 euros as of 0800 GMT in Paris, after initially falling as much as 2.7%. The stock remains almost 19% below its level on the eve of Ghosn's Nov. 19 arrest in Tokyo.

Tax Revenue Hits Record High Of \60.4 Tril.

Tax revenue hits record high of \60.4 tril.

Japan's tax revenue for the fiscal year that ended in March hit an all-time high of over 560 billion dollars.

The figure exceeded an earlier official estimate. Sources close to government say revenue broke the previous record posted in fiscal 1990 during the economic bubble.

Japan To Introduce Forgery-proof Revenue Stamps

Japan to introduce forgery-proof revenue stamps

Japan's National Tax Agency will introduce anti-counterfeit revenue stamps next month. It will be the first design change in 25 years.

Individuals, companies and other entities have to buy the stamps to make contracts and other types of documents legally effective. About 300 million stamps are issued annually.

Renault And Nissan Strengthen Convergence To Boost Efficiency And Revenue

Renault and Nissan strengthen convergence to boost efficiency and revenueThe Renault-Nissan Alliance is strengthening synergies in four core divisions and launching new convergence projects to boost efficiency and revenue.
Convergence includes integrating divisions, creating common processes, exchanging talent and other significant sharing of resources. Convergence helped Renault and Nissan generate more than €4 billion in annualized synergies in calendar year 2015.

Nintendo Sees Mobile Gaming As An Important Part Of Their Revenue

Nintendo Sees Mobile Gaming As An Important Part of Their RevenueA couple of months ago, Nintendo surprised everyone when they announced they would finally be getting into mobile gaming, and recently during the company’s financial briefing, Nintendo’s President Satoru Iwata revealed that moving forward, mobile gaming is expected to become an important part of Nintendo’s revenue structure.

Docomo To Establish New Business Units For New Revenue Expansion

DOCOMO to Establish New Business Units for New Revenue ExpansionNTT DOCOMO, INC., a personalized mobile solutions provider for smarter living, announced today that it will establish several new business units on July 1 as part of an initiative to reorganize its business and organizational structure for new-business revenue expansion. The new units will strengthen and accelerate the creation of services that will enable customers to enjoy smarter living through innovative mobile solutions.

Solar Revenue From Prefecture-financed Plant Expected To Benefit Locals

Solar Revenue From Prefecture-financed Plant Expected to Benefit LocalsShobara Solar Power Plant in Shobara City, Hiroshima Prefecture, is Japan’s first large-scale solar power plant to use a limited liability partnership (LLP). The project is financed by Hiroshima Prefectural Government and the Chugoku Electric Power Group. With ¥900 million (approx US$9.22 million) expected in revenue over the next 20 years, the plant will remain unconsolidated, and its revenue will be used for energy-saving and other activities. In consideration of the climate in the region, the plant selected solar panel and PV inverter models focusing on their quality and durability.

Profits, Revenue Up Again At Mazda During First Quarter 2013

Profits, revenue up again at Mazda during first quarter 2013Mazda Motor Corporation posted considerable gains in its financial results for the first quarter of the new fiscal year, thanks most notably to increasing sales of models featuring the company’s convention-defying SKYACTIV Technology and KODO design. Sales in Europe also grew between April and June 2013 in an overall market that continues to contract.