Nissan 2004 Annual Report Download - page 6

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Nissan Annual Report 2003
4
BUSINESS OVERVIEW
The Realization of Sustainable,
Profitable Growth
With the second year of the three-year NISSAN 180 business plan completed,
the results are unequivocal: Nissan is moving aggressively toward sustainable,
profitable growth. In fiscal year 2003, the company has reported record
earnings, and an operating profit margin that continues to lead the global
automotive industry. NISSAN 180 has moved ahead of schedule to reinforce
Nissan’s position among the top automakers of the world:
• Consolidated net revenues rose by 8.8 percent from 2002, to a total of
¥7.43 trillion. This was despite a negative impact from movement in foreign
exchange rates of ¥111.6 billion, and came largely from a higher sales
volume and mix.
• With a consolidated operating profit of ¥825 billion—an improvement of
11.9 percent, and a new record—Nissan can boast an operating profit
margin of 11.1 percent, the top level of all global automakers. This figure is
almost ten times the ¥83 billion profit figure of fiscal year 2000, when the
Nissan Revival Plan began building the new road to profitability—a process
continued by NISSAN 180, and soon to be taken on by the new business
plan, NISSAN Value-Up.
• Global sales of Nissan vehicles totaled 3.057 million units, exceeding the
forecast of 3.040 million. Not only is this a 10.4 percent increase over fiscal
year 2002, or 287,000 more vehicles, but this is the first time in 13 years
that Nissan has sold more than three million units annually.
Nissan is the most profitable global automotive company.