Analyst Note
| Richard Hilgert |No-moat rated Nissan reported a fiscal second-quarter loss per share of JPY 11.33, blowing past the CapIQ consensus estimated loss per share of JPY 45.10 as the company continues its struggle to turnaround operations. Even though operating results continued to be impacted by the pandemic, it also shows a company that is battling to contain cost while launching four new models this fiscal year and eight more next year. An aged product portfolio, lower daily rental fleet sales, and strict incentive policies have reduced volumes and resulted in share losses.