March 22, 2001

Nissan Announces Sale of Holdings in Kasai Kogyo to Nagase Sangyo

Tokyo--Nissan Motor Co., Ltd. announced today that the company had sold 6.5% of its stake in Kasai Kogyo to Nagase Sangyo. Nissan will retain a 14.7% stake in Kasai Kogyo. The deal was concluded today and the terms of the transaction were not disclosed.

Kasai Kogyo primarily manufactures automotive interior components and parts including door trim, insulators and sun visors. Nagase Sangyo is the largest chemical trading firm in Japan with a strong presence in the compound resin material lines. Nissan has had business relationship with both companies.

"We believe this is a beneficial tie-up for both companies, which will only make Kasai Kogyo a more efficient and effective supplier for Nissan," said Itaru Koeda, EVP of purchasing for Nissan Motor Co., Ltd. "We look forward to continuing our relationship with this strengthened company."

As part of the Nissan Revival Plan, Nissan is rebuilding its supply network to create a globally competitive group of suppliers. The Company has committed to returning to a net consolidated profit in fiscal year 2000, achieving an operating margin of at least 4.5 percent and reducing net consolidated automotive debt to no more than 700 billion yen by the end of fiscal year 2002.

- Outline of Kasai Kogyo -

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