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April
27, 2005
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Nissan's consolidated net revenues amounted to 8.576 trillion yen (US $79.7 billion, euro 63.8 billion), up 15.4% compared with the previous year. Operating profit totaled a record 861.2 billion yen (US $8.0 billion, euro 6.4 billion), up 4.4% compared with last year, and the operating profit margin came to 10.0%, which is at the top level among global automakers. Ordinary profit amounted to 855.7 billion yen (US $7.95 billion, euro 6.37 billion), up 5.7%. Nissan sold a record 3,388,000 vehicles worldwide in fiscal year 2004, an increase of 10.8%, or 331,000 units. In the United States, sales advanced 18.4% to 1,013,000 units, topping the 1-million mark for the first time. In Japan, sales increased 1.4% to 848,000 units. In Europe, where sales are reported on a calendar-year basis, sales were flat at 544,000 units. Sales in General Overseas Markets, including China, Mexico and Canada, increased 19.5% to 983,000 units. The fiscal year 2004 financial results include the 50% proportional consolidation of Dongfeng Motor Co., Ltd., Nissan's joint venture in China, and the full consolidation of Siam Nissan Automobile Co., Ltd., and Yulon Motor Co., Ltd. NISSAN Value-Up The NISSAN Value-Up business plan has three commitments relating to profitability, growth and return on investment. The commitments are: · to maintain the top level of operating profit margin among global automakers for each of the three years of the plan; · to achieve global sales of 4.2 million units, measured in fiscal year 2008; and · to achieve a 20% return on invested capital on average over the course of the plan, excluding cash on hand. "The story of Nissan's revival is now complete," said Ghosn. "NISSAN Value-Up is a clear plan with specific commitments. Within this framework for action, we will create more value for more customers, employees and shareholders in more world markets than ever before." Under the plan, Nissan will expand its worldwide presence, and Infiniti will be launched as a global tier-one luxury brand. Currently marketed in North America, Taiwan and the Middle East, Infiniti will be expanded to Korea, China and Russia. Through the end of fiscal year 2007, 28 all-new Nissan and Infiniti models will be launched globally. Amounts in dollars and euros are translated for the convenience of the reader only at the foreign exchange rates of 107.6 yen/dollar and 134.4 yen/euro, the average rates for the fiscal year ending March 31, 2005. (April 25, 2005)
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