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Nissan to Welcome Tender Offer for Ikeda Bussan by Johnson Controls

9 July 2000

    TOKYO, July 9 Nissan Motor Co., issued a positive response to announcement 
of a tender offer to be made Monday for Ikeda Bussan Co., by Johnson Controls
Holdings, K.K.  Nissan wholly welcomes the bid for one of its affiliate 
companies as an opportunity to create a partnership benefiting Ikeda Bussan, 
Johnson Controls and Nissan, in a increasingly global automotive marketplace.

    "We fully support this move," said Thierry Moulonguet, EVP and CFO of
Nissan Motor Co., Ltd., "The proposed partnership is clearly in line within
the framework of the Nissan Revival Plan by further globalizing the supplier
base and by strengthening our partnership with a very competitive global
company."

    Currently both Johnson Controls and Ikeda Bussan supply Nissan with
automotive seats in Japan, North America and Europe.  Ikeda Bussan is an
affiliate of Nissan Motor Co., Ltd., which owns 37.9 percent of the
outstanding shares.

    As part of the Nissan Revival Plan, Nissan is restructuring its supplier
network, creating an internationally competitive global supply base.  The
company has also committed to returning to a net consolidated profit in fiscal
year 2000, reducing net consolidated automotive debt to less than 700 billion
yen by fiscal year 2002 and achieving an operating margin of 4.5 percent or
greater by fiscal year 2002.