NISSAN SHATAI CO., LTD.7222

Why the market may be pricing it low

• Nissan's 50% controlling stake raises doubt that minority returns come before the parent's production strategy.

  日産自動車株式会社 50.0%Shareholders

• 98.2% of sales depend on Nissan, so any shift in Nissan's sales or production policy directly sways results.

  当連結会計年度の売上高の98.2％を同社に依存しておりますRisk factors

• Key models like AD and NV200 are being discontinued, signaling a structural shrinkage of core production.

  湘南工場では、10月にADの生産が終了し、NV200バネットについても、2027年３月末をもって生産終了することが決定Management policy

What could close the gap

• Efforts to expand special-vehicle and support business beyond the Nissan group could shift perception if they succeed.

  特装事業及びサポート事業では、親会社グループ以外との取引拡大に向けた取り組みを進めておりますRisk factors

How a buyer could still lose (value trap)

• Impairment and restructuring charges already booked for the Shonan plant conversion suggest further model discontinuations could bring more losses.

  当社固定資産の減損損失26億円及び当社グループ全体で約800人の対象者を前提に合理的に見積った人事施策にかかる費用として事業構造改革引当金繰入額21億円等を特別損失に計上MD&A

Financial quality (Piotroski F-score)

• ✓Profitable (ROA > 0)
• ✓Positive operating cash flow
• ✓ROA up on last year
• ✓Cash flow exceeds net profit
• ✓Leverage down on last year
• ✓Current ratio up on last year
• ✓No new shares issued
• ✓Gross margin up on last year
• ✓Asset turnover up on last year

Scored out of the checks with data, scaled to 9. Compares the latest year with the year before.

Figures

Sales

¥403.8bn

Operating profit

¥14.2bn

Net profit

¥6.9bn

Operating cash flow

¥22.2bn

Cash

¥74.7bn

Debt

¥0.0bn

Equity

¥183.8bn

Annual report for the year to 2026-03-31