May 10, 2002

Nissan announces record results for 2001 fiscal year

Tokyo – Nissan Motor Company announced yesterday that it expects to report an operating profit of 490 billion yen (US$3.92 billion, Euro 4.50 billion) and a consolidated net profit after tax of 372 billion yen (US$2.97 billion, Euro 3.42 billion) for the 2001 fiscal year, which ended March 31, 2002. As a result, the company declared the completion of the Nissan Revival Plan (NRP) one full year ahead of schedule. Carlos Ghosn, president and CEO of Nissan, also explained the major action plans of “NISSAN 180” the company’s new three-year business plan that began on April 1, 2002.

“Through NRP, we transformed a struggling company into a good company; through Nissan 180, we will transform a good company into a great company,” said Ghosn.

NISSAN 180 is based on four pillars; higher revenue, less costs, more quality and speed and synergies from the Alliance with Renault.

Under NISSAN 180 the company aims to add an additional 1 million unit sales by the end of FY 04 by continuing its blitz of new products, launching at least 28 new vehicles over three years. The company will enter new segments and new geographic markets worldwide to fuel this growth.

Nissan sold 2,597,000 vehicles worldwide in the 2001 fiscal year, down by 1.4% from the previous year. However the company showed a better performance in the second half than in the first-half as new products such as the award-winning Altima in the United States and all-new March in Japan were launched. Sales declined 3.6% year on year in the first half, but increased 0.8% in the second half.

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