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November 30, 1999 Nissan to create an integrated sales finance company in JapanTokyo -- Nissan Motor Co., Ltd. has decided to integrate four subsidiaries in order to reposition and develop its sales finance and related services activities in a rapidly changing marketplace. The integration is scheduled to take place in July 2000.As part of Nissan's Revival Plan announced October 18, 1999 and in conjunction with the sales department, the aim of the integration is to support Nissan's sales and marketing. Furthermore, the purpose is to implement a comprehensive restructuring program to improve the competitiveness of Nissan's financial operations and automotive related services in Japan while at the same time reducing its overall cost structure. The new company is targeting to become the most competitive and advanced captive automobile finance company in Japan providing a full line of products while generating a high level of profitability. The four subsidiaries to be integrated in the new company are:
The planned integration will in no way affect the customers of these four companies. The above mentioned companies will maintain their normal business under the current organization and management until the integration is completed. ### |
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