NON-CONSOLIDATED FINANCIAL INFORMATION

NISSAN MOTOR CO., LTD.
NON-CONSOLIDATED FINANCIAL INFORMATION

(MAY 21, 1999)

RESULTS
FY 1997
97/4-98/3

RESULTS
FY 1998
98/4-99/3

FORECAST
FY 1999
99/4-00/3

(BILLIONS OF YEN)

NET SALES
3,546.1

3.9%

3,319.6

6.4%

3,070.0

7.5%

DOMESTIC
1,921.1

12.5%

1,722.0

10.4%

1,620.0

5.9%

EXPORT
1,625.0

8.8%

1,597.5

1.7%

1,450.0

9.2%

OPERATING INCOME
85.6

24.2%

15.1

82.3%

0.0

-

% OF NET SALES
2.4%

0.5%

0.0%

NON OPERATING INCOME
27.9

0.5

20.0

ORDINARY INCOME
57.7

28.8%

14.6

74.6%

20.0

-

% OF NET SALES
1.6%

0.4%

0.7%

EXTRAORDINARY INCOME
41.2

49.4

20.0

NET INCOME
16.5

67.8%

34.8

-

40.0

-

% OF NET SALES
0.5%

1.0%

1.3%

OPERATING INCOME ANALYSIS

(YEAR TO YEAR CHANGE)

RATIONALIZATION
55.0

50.0

55.0

FOREIGN EXCHANGE EFFECT
30.0

20.0

65.0

ROYALTY <SEE NOTE (2) BELOW>
-

34.0

-

SALES REDUCTION, SALES MIX CHANGE
45.0

151.0

35.0

SALES RELATED EXPENSES
25.0

0.0

30.0

(EQUIPMENT WITHOUT CHARGE)

( 8.0)

( -)

(SALES PROMOTION EXPENSES)

( 8.0)

( 30.0)

R & D EXPENSE INCREASE ETC.
42.0

23.0

-

FOREIGN EXCHANGE RATE

YEN/USD
120

127

115

YEN/DM
69

73

(65)

YEN/EUR
-

-

127

CAPITAL EXPENDITURE
106.4

99.7

100.0

DEPRECIATION
90.0

96.5

100.0

(DEPRECIATION INCLUDING LEASE FEE)
(114.4)

(120.3)

(120.0)

R & D EXPENSES
208.0

213.0

220.0

PERFORMANCE DESCRIPTION *Reduced profits on reduced net sales.

*Reduced profits on reduced net sales.

*Reduced profits on reduced net sales.

(THOUSAND UNITS)

PRODUCTION VOLUME

DOMESTIC
1,672

0.5%

1,528

8.6%

1,450

5.1%

OVERSEAS(from April to March)
1,083

0.3%

937

13.5%

1,085

15.8%

TOTAL
2,755

0.4%

2,465

10.5%

2,535

2.8%

SALES VOLUME

DOMESTIC
974

13.5%

874

10.3%

830

5.0%

EXPORT
711

18.9%

711

0.1%

620

12.8%

TOTAL
1,685

2.3%

1,585

6.0%

1,450

8.5%

DOMESTIC REGISTRATION
967

14.5%

861

10.9%

830

3.6%

MARKET SHARE
20.4%

20.4%

20.5%

TOTAL DEMAND
4,749

14.6%

4,215

11.2%

4,050

3.9%

Notes: (1)The % figures, unless otherwise described, show the changes over the previous FY.
(2) Royalty income, which has been included in the non-operating income so far, was included in net sales. from the fiscal year ending March 1999.
(3) Overseas production volume includes Taiwan, Thailand and South Africa.

	RESULTS FY 1997 97/4-98/3		RESULTS FY 1998 98/4-99/3		FORECAST FY 1999 99/4-00/3
(BILLIONS OF YEN)
NET SALES	3,546.1	3.9%	3,319.6	6.4%	3,070.0	7.5%
DOMESTIC	1,921.1	12.5%	1,722.0	10.4%	1,620.0	5.9%
EXPORT	1,625.0	8.8%	1,597.5	1.7%	1,450.0	9.2%
OPERATING INCOME	85.6	24.2%	15.1	82.3%	0.0	-
% OF NET SALES	2.4%		0.5%		0.0%
NON OPERATING INCOME	27.9		0.5		20.0
ORDINARY INCOME	57.7	28.8%	14.6	74.6%	20.0	-
% OF NET SALES	1.6%		0.4%		0.7%
EXTRAORDINARY INCOME	41.2		49.4		20.0
NET INCOME	16.5	67.8%	34.8	-	40.0	-
% OF NET SALES	0.5%		1.0%		1.3%
OPERATING INCOME ANALYSIS
(YEAR TO YEAR CHANGE)
RATIONALIZATION	55.0		50.0		55.0
FOREIGN EXCHANGE EFFECT	30.0		20.0		65.0
ROYALTY <SEE NOTE (2) BELOW>	-		34.0		-
SALES REDUCTION, SALES MIX CHANGE	45.0		151.0		35.0
SALES RELATED EXPENSES	25.0		0.0		30.0
(EQUIPMENT WITHOUT CHARGE)			( 8.0)		( -)
(SALES PROMOTION EXPENSES)			( 8.0)		( 30.0)
R & D EXPENSE INCREASE ETC.	42.0		23.0		-

FOREIGN EXCHANGE RATE
YEN/USD	120		127		115
YEN/DM	69		73		(65)
YEN/EUR	-		-		127
CAPITAL EXPENDITURE	106.4		99.7		100.0
DEPRECIATION	90.0		96.5		100.0
(DEPRECIATION INCLUDING LEASE FEE)	(114.4)		(120.3)		(120.0)
R & D EXPENSES	208.0		213.0		220.0
PERFORMANCE DESCRIPTION	*Reduced profits on reduced net sales.		*Reduced profits on reduced net sales.		*Reduced profits on reduced net sales.
(THOUSAND UNITS)
PRODUCTION VOLUME
DOMESTIC	1,672	0.5%	1,528	8.6%	1,450	5.1%
OVERSEAS(from April to March)	1,083	0.3%	937	13.5%	1,085	15.8%
TOTAL	2,755	0.4%	2,465	10.5%	2,535	2.8%
SALES VOLUME
DOMESTIC	974	13.5%	874	10.3%	830	5.0%
EXPORT	711	18.9%	711	0.1%	620	12.8%
TOTAL	1,685	2.3%	1,585	6.0%	1,450	8.5%
DOMESTIC REGISTRATION	967	14.5%	861	10.9%	830	3.6%
MARKET SHARE	20.4%		20.4%		20.5%
TOTAL DEMAND	4,749	14.6%	4,215	11.2%	4,050	3.9%