CONSOLIDATED BALANCE SHEETS

Nissan Motor Co., Ltd. and Consolidated Subsidiaries
Years ended March 31, 1996, 1995 and 1994


ASSETS Millions of yen Thousands of
U.S. dollars
(Note 2)
1996 1995 1996
Current assets:

Cash (Note 6)

¥  110,205 ¥  104,318 $ 1,039,670
Short-term investments
(Note 6)
453,684 490,873 4,280,038
Receivables, less allowance for doubtful receivables
(Notes 3 and 6)
1,358,786 1,016,403 12,818,736
Inventories
(Note 4)
717,691 690,880 6,770,670
Other current assets 400,491 530,345 3,778,216
Total current assets
3,040,857 2,832,819 28,687,330
Investments and advances
(Note 6)

Unconsolidated subsidiaries and affiliates

374,859 409,112 3,536,406
Other 215,351 211,710 2,031,613
Total investments and
advances
590,210 620,822 5,568,019
Property, plant and equipment, at cost
(Notes 5 and 6)
6,031,159 6,246,182 56,897,726
Less accumulated depreciation (2,901,371) (2,905,308) (27,371,424)
Property, plant and
equipment, net
3,129,788 3,340,874 29,526,302
Translation adjustments 330,739 398,399 3,120,179
Total assets ¥7,091,594 ¥7,192,914 $66,901,830

LIABILITIES AND SHAREHOLDERS' EQUITY Millions of yen Thousands of
U.S. dollars
(Note 2)
1996 1995 1996
Current liabilities:

Short-term borrowings and current portion of long-term debt
(Note 6)

¥1,799,410 ¥1,721,626 $16,975,566
Notes and accounts payable
(Note 7)
1,109,633 1,012,083 10,468,236
Accrued income taxes 10,815 16,119 102,028
Other current liabilities 626,748 539,718 5,912,717
Total current liabilities
3,546,606 3,289,546 33,458,547
Long-term debt
(Note 6)
1,929,104 2,209,829 18,199,094
Accrued retirement allowances
(Note 8)
78,522 88,591 740,773
Other long-term liabilities 158,091 151,989 1,491,425
Minority interests in consolidated subsidiaries 22,593 23,894 213,142
Shareholders' equity:

Common stock, ¥50 par value;
authorized - 6,000,000,000;
issued - 2,512,828,324 in 1996
and 2,512,711,597 in 1995

203,678 203,647 1,921,491
Capital surplus 397,335 397,284 3,748,443
Legal reserve (Note 11) 50,911 49,383 480,292
Retained earnings (Note 16) 704,756 778,753 6,648,642

1,356,680 1,429,067 12,798,868
Less:
Treasury common stock, at cost;
2,953 shares in 1996 and 4,134 shares in 1995
(2) (2) (19)
Total shareholders'
equity
1,356,678 1,429,065 12,798,849
Contingent liabilities
(Note 13)



Total liabilities and shareholder's equity ¥7,091,594 ¥7,192,914 $66,901,830

See Notes to Consolidated Financial Statements.



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