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Nissan Holds 113th Ordinary General Meeting of Shareholders


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YOKOHAMA – June 27, 2012: Nissan Motor Co., Ltd., today held its 113th Ordinary General Meeting of Shareholders at the National Convention Hall of Yokohama. The meeting lasted 2 hours 17 minutes, starting from 10:00 a.m. JST and concluding at 12:17 p.m. JST. A total of 1,188 shareholders attended the meeting.

Nissan President and CEO Carlos Ghosn and COO Toshiyuki Shiga reviewed for shareholders the company’s performance during the past fiscal year and the outlook for the year ahead. Nissan’s fiscal year ended March 31st.

Ghosn reiterated the company’s outlook for FY12, stating that he expects the global industry volume to reach 79.7 million vehicles, up 5.3% over the last fiscal year. He said that the company expects to sell 5.35 million new vehicles during the year, an increase of 10.4% and ahead of the industry pace. As a result, Nissan forecasts its share of the global vehicle market to rise to 6.7%, up from 6.4% last year.

Ghosn also told shareholders that Nissan’s financial performance forecast is healthy, despite global economic volatility.

  • Revenue: ¥10.3 trillion (US$125.61 billion);
  • Operating profit: ¥700 billion (US$8.54 billion);
  • Ordinary profit: ¥680 billion (US$8.29 billion); and
  • Net income: ¥400 billion (US$4.88 billion).

    Ghosn and the members of Nissan’s Executive Committee responded to questions submitted by shareholders who attended the meeting and who supplied questions in advance.

    Three items were proposed to the shareholders for approval:

  • the approval of appropriation of retained earnings for the 113th fiscal year;
  • the election of one new director to fill a vacancy on the Board; and,
  • the election of two Statutory Auditors.

    All items were approved by the shareholders as presented.

    The appropriation of retained earnings effectively doubled Nissan’s dividend to ¥20 per share for the fiscal year just ended from the prior year. Nissan had previously paid an interim dividend in the amount of ¥10 per share. A year-end dividend in the amount of ¥10 per share was approved.

    Greg Kelly, currently a Nissan Motor Co., Ltd. senior vice president in charge of the CEO Office, Human Resources and Legal, was elected a Board member. With Kelly’s election, nationalities represented on the Board include American (1), Brazilian (1), Briton (1), French citizen (1), and Japanese (5).

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