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Nissan Revises Forecasts of Consolidated Financial Results

20 May 1998

Nissan Revises Forecasts of Consolidated Financial Results For the Fiscal Year Ended March 31, 1998

    NEW YORK, May 20 -- Nissan Motor Co., Ltd.
today announced revised forecasts for its consolidated financial accounts for
the fiscal year ended March 31, 1998.

    1.  Revisions of Consolidated Financial Accounts Forecast for the
Fiscal Year Ended on March 31, 1998.

                     Net Sales           Ordinary Profit         Net Income
                    mill.     mill.       mill.     mill.     mill.    mill.
                    yen     dollars*      yen      dollars*   yen    dollars*

    Previous
     Forecast
     (released on
     April 17)   6,500,000   48,872.2    25,000     188.0     16,000    120.3

    Revised
     Forecast    6,564,600   49,357.9     4,700      35.3    (14,000)  (105.3)

    Change          64,600      485.7   (20,300)   (152.6)   (30,000)  (225.6)


    Consolidated results for the fiscal year ended on March 31, 1997
    (for reference)

                      Net Sales           Ordinary Profit      Net Income
                    mill.     mill.      mill.      mill.     mill.    mill.
                    yen     dollars**    yen      dollars**   yen    dollars**

    Results for
     FY 1996
     (96/4-
     97/3)       6,658,875   53,700.6   140,699   1,134.7     77,743    627.0

2.  The reasons for the revisions are as follows.

    In the U.S., the evaluation of the residual value of leased vehicles
depends on the conditions of the used car market.  If the future residual
values of leased vehicles at maturity are forecasted to be lower than that at
the origination of the lease contract, due to the deterioration of used car
market, the book residual value is reevaluated.  In consideration of the
current difficult condition of used car market in the U.S., Nissan decided
that it is appropriate to take a more conservative approach in evaluating the
future risk associated with the residual loss.  As a result of this
reevaluation, Nissan's consolidated net income is forecasted to be revised as
shown above.
    Other changes related to the fiscal year-end closing are also included
in the revision.

    * Note:  Currency translations have been provided for the convenience of
the reader only.  Dollar values are calculated at 133 yen/dollar, the
approximate rate of exchange at market close on March 31, 1998 in New York.
Conversion of 1997 dollar figures are calculated at 124 yen/dollar, the
approximate rate of exchange at market close on March 31, 1998 in New York.

    Or visit the Nissan Online News Bureau at http://www.nissannews.com