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May 11, 2012

NISSAN POSTS OPERATING PROFIT OF 545.8 BILLION YEN FOR FY11

- Year of record global sales; new mid-term growth plan started; Nissan LEAF becomes world's best selling electric car -

YOKOHAMA (May 11, 2012) - Nissan Motor Co., Ltd., today announced financial results for the 12-month period ending March 31, 2012, and filed the following results with the Tokyo Stock Exchange:

  • Net revenues of 9.409 trillion yen (US $118.95 billion, euro 86.32 billion);
  • Operating profit of 545.8 billion yen (US $6.90 billion, euro 5.01 billion);
  • Ordinary profit of 535.1 billion yen (US $6.76 billion, euro 4.91 billion); and
  • Net income of 341.4 billion yen (US $4.32 billion, euro 3.13 billion).

In fiscal year 2011, Nissan's global sales reached a record-high of 4.845 million units as demand for its vehicles outperformed the total auto industry. Unit sales of Nissan vehicles rose 15.8% from last year's 4.185 million units, while total industry volumes increased 4.2% from 72.6 million units in fiscal 2010 to 75.7 million. Nissan's share of the global market rose 0.6 points to 6.4%.

Carlos Ghosn, Nissan President and Chief Executive Officer, said: "Nissan has delivered robust operating profits and record sales amid growing demand for our models, brands and technologies around the world. It is an even more encouraging performance given the headwinds created by natural disasters, an over-valued Yen and uncertain global economic conditions."

Nissan recovered quickly from a series of challenges, notably the Great East Japan earthquake of March 2011, to maintain its product launch schedule and market expansion strategy. The company released five new models globally in fiscal 2011: the Tiida in China, the Lafesta Highway Star in Japan, front-drive and rear-drive versions of the NV400 commercial van in Europe and the Infiniti JX in the United States.

In the period, additional milestones were achieved such as the Nissan LEAF becoming the world's most successful electric vehicle and the extension of partnerships with other automakers including Daimler and Mitsubishi.

In global markets, the company reported significant growth. Unit sales in China, Nissan's largest single market worldwide, rose 21.9% to 1,247,000 vehicles. In the United States, sales were up 11.8% to 1,080,000 units. Across Europe including Russia, sales were 713,000 units, up 17.5%. In Japan, sales increased by 9.2% to 655,000 units. Other markets totalled 826,000 units, up 16.4%.

"We have begun to deliver on the comprehensive Nissan Power 88 plan that we unveiled last year," added Ghosn. "Our financial performance, product launches and market penetration over the past 12 months demonstrate our progress towards sustainable operating margins of 8% and 8% global market share."

FY2012 Outlook
The global sales forecast for fiscal year 2012 is 5.35 million units, an increase of 10.4% and another record year. Nissan will launch 10 all-new products globally including the Altima, Pathfinder, Sylphy/Sentra, NV350 Caravan and a long wheelbase version of the Infiniti M hybrid sedan.

On May 11, 2012, Nissan filed the following forecast with the Tokyo Stock Exchange, based on foreign exchange rates of 82 yen/dollar and 105 yen/euro, for the fiscal year ending March 31, 2013:

  • Net revenues of 10.3 trillion yen (US $125.61 billion, euro 98.10 billion);
  • Operating profit of 700 billion yen (US $8.54 billion, euro 6.67 billion);
  • Ordinary profit of 680 billion yen (US $8.29 billion, euro 6.48 billion); and
  • Net income of 400 billion yen (US $4.88 billion, euro 3.81 billion).

Note 1: On November 2, 2011, Nissan filed the following forecast with the Tokyo Stock Exchange, based on foreign exchange rates of 79.9 yen/dollar and 111.9 yen/euro, for the fiscal year ending March 31, 2012:

  • Net revenues of 9.45 trillion yen (US $118.27 billion, euro 84.45 billion);
  • Operating profit of 510 billion yen (US $6.38 billion, euro 4.56 billion);
  • Ordinary profit of 480 billion yen (US $6.01 billion, euro 4.29 billion);
  • Net income of 290 billion yen (US $3.63 billion, euro 2.59 billion);

Note 2: Amounts in dollars and euros for the results are translated for the convenience of the reader at foreign exchange rates of 79.1 yen/dollar and 109.0 yen/euro, the average rates for the fiscal year ending March 31, 2012.

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