On April 25, Nissan Motor Co. announced that it achieved a record performance in its fiscal year ending March 31, 2006. The company reported a consolidated net profit of 518.1 billion yen (approximately $4.57 billion or €3.78 billion). This marked a 1.1% annual growth, the highest in six consecutive years, highlighting Nissan's strong financial position despite challenging market conditions. Carlos Ghosn, President and CEO of Nissan Motor Co., noted that the company performed well in fiscal 2005, even as the global automotive industry faced various challenges such as rising raw material prices, high energy costs, increased interest rates, and greater dealer rebates. He emphasized the resilience of Nissan’s operations during this period. In fiscal 2005, Nissan’s net income totaled 94.2 trillion yen ($83.21 billion or €68.87 billion), reflecting a 9.9% increase compared to the previous year. Operating profit reached 871.8 billion yen ($7.69 billion or €6.37 billion), up by 1.2%, with an operating margin of 9.2%. However, current-account profits slightly declined by 1.1% to 845.9 billion yen ($7.47 billion or €6.18 billion). Nissan also recorded a new sales record for fiscal 2005, with global auto sales reaching 3,569,295 units. In China, NISSAN brand vehicle sales hit 180,000 units. The company projected that by the end of fiscal 2008, sales in China would surpass 500,000 vehicles, making it the third-largest market after Japan and the United States. At the end of April, Yukio Koki, Managing Director of Nissan (China) Investment Co., Ltd., outlined three key strategic priorities for the Chinese market. The first was branding, focusing on joint ventures and creating dual brands. Nissan emphasized strengthening both the Dongfeng Nissan and NISSAN brands globally, with specific teams responsible for their respective operations. The second priority was to provide consumers with the most needed and diverse range of products. While Dongfeng focused on mid- and low-end models, Nissan (China) aimed to introduce more high-end vehicles, enhancing the brand’s image and targeting China’s growing affluent class. The third focus was contributing to the Nissan Value-Added Program. This included introducing the Infiniti brand in China, which was part of Nissan’s global strategy to build premium brands. Koki mentioned plans to launch Infiniti in the second half of 2007, with dealer networks being expanded in major cities like Beijing, Shanghai, Guangzhou, and Shenzhen. In 2006, Nissan (China) set a target of selling 8,500 imported vehicles. The commercial vehicle segment included two parts: large commercial vehicles without the Nissan logo and compact LCVs with the brand. LCVs were a key component of the value-added plan, with future production planned at Dongfeng Day. Looking ahead to fiscal 2006, Ghosn stated that while the first half would be challenging, the second half would see the introduction of nine new models, including the Altima, Sentra, and Infiniti G35. Nissan also planned to expand into emerging markets, including a $200 million investment in Russia for a new manufacturing plant in St. Petersburg, expected to start production in 2009. Ghosn warned that rising material costs, energy prices, and exchange rate fluctuations would remain significant risks. Based on these factors and assuming an exchange rate of 110 yen per dollar and 135 yen per euro, Nissan forecast a consolidated net income of 1,007.5 billion yen, with operating profit at 880 billion yen and net profit at 523 billion yen for the fiscal year ending March 31, 2007.

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