Nissan 2011 Annual Report Download
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Table of contents
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Page 1
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Page 2
... stakeholders include customers, shareholders, employees, dealers and suppliers, as well as the communities where we work and operate.
Contents
Financial Highlights
02
Mid-term Plan Message from the CEO Message from the COO
Message from the CRO
This annual report presents financial results for...
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Page 3
Mid-term Plan
Performance
Corporate Data
Corporate Governance
NISSAN Annual Report 2011
Financial Highlights
2010
For the years ended Mar. 31, 2011
02
2009
Mar. 31, 2010
2008
Mar. 31, 2009
2007
Mar. 31, 2008
2006
Mar. 31, 2007
Net sales1 Operating income (loss) Ordinary income (loss) Net ...
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Page 4
... bring more innovation and excitement to our products and services, as well as cleaner, more affordable cars for everyone around the world.
03
Carlos Ghosn President and Chief Executive Officer
Nissan Power 88 Nissan's new mid-term plan builds upon all the lessons learned, synergies developed and...
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Page 5
Mid-term Plan Message from the CEO
Performance
Corporate Data
Corporate Governance
NISSAN Annual Report 2011
04
marketplace. We will expand our V-platform range of global products to three models to help us reach more than 1 million units from this platform in 2016. We are focusing more ...
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Page 6
Mid-term Plan Message from the CEO
Performance
Corporate Data
Corporate Governance
NISSAN Annual Report 2011
05
production capacity, to 1.2 million units, and we will further increase our capacity to be in line with our goal of 10% market share. With our partner Dong Feng, we will continue to ...
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Page 7
Mid-term Plan
Performance
Corporate Data
Corporate Governance
NISSAN Annual Report 2011
Message from the COO
06
The Fusion of Management Power and Gemba Power
A massive earthquake and tsunami shook Japan in March 2011. The disaster deeply affected Nissan's operations, but the company has ...
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Page 8
Mid-term Plan Message from the COO
Performance
Corporate Data
Corporate Governance
NISSAN Annual Report 2011
07
The Global Disaster Control Headquarters gave guidance not only in Japan, but also to our operations in other regions around the world to promote necessary actions. Management power ...
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Page 9
... vehicle delivery based on the latest situation. In addition to these delivery status updates, we also provided a variety of information on Nissan, thereby maintaining frequent contact with our customers to establish stronger relationships with them. Nissan's thorough management of the supply chain...
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Page 10
Mid-term Plan
Performance
Corporate Data
Corporate Governance
NISSAN Annual Report 2011
Message from the CFO
09
Moving Powerfully into Nissan's Future
Nissan was well positioned to recover from the financial crisis and recorded its best year ever in fiscal 2010. The company has responded ...
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Page 11
Mid-term Plan Message from the CFO
Performance
Corporate Data
Corporate Governance
NISSAN Annual Report 2011
10
the restoration activities. As a result of these actions, we were able to restart vehicle production at all our vehicle plants in Japan one month after the earthquake, on April 11, ...
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Page 12
Mid-term Plan Message from the CFO
Performance
Corporate Data
Corporate Governance
NISSAN Annual Report 2011
11
changing conditions. We have put this capability successfully to the test during the changes in the market and business environment following the financial crisis touched off in 2008 ...
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Page 13
... to be funded by profitable vehicles. By 2016 we aim to grow Infiniti sales from the 2010 level of 150,000 to a 10% global market share among facing luxury segments, which would represent 500,000 vehicles. This will make the brand a powerful driver of profit for Nissan as well as a halo product line...
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Page 14
Mid-term Plan Strategies for Growth
Performance
Corporate Data
Corporate Governance
NISSAN Annual Report 2011
13
"global growth models," and our intent is to make these the top sellers in their segments in all markets where they are sold. We dedicate more time, engineering resources and ...
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Page 15
... number of dealer outlets and service facilities. Nissan currently has 6,000 major sales locations around the world. We will expand our retail network to 7,500 outlets by 2016. To secure human resources to manage these dealerships, we will aggressively attract leading investors and business managers...
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Page 16
Mid-term Plan Strategies for Growth
Performance
Corporate Data
Corporate Governance
NISSAN Annual Report 2011
15
Sales Network Quality In pursuing improvements in the quality of our sales networks, Nissan will focus its efforts mainly in mature markets where the networks are already firmly ...
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Page 17
Mid-term Plan
Performance
Corporate Data
Corporate Governance
NISSAN Annual Report 2011
Nissan Power 88
16
Nissan announced a wide-ranging, six-year business plan that will accelerate the company's growth across new markets and segments. The plan for fiscal years 2011 to 2016, called Nissan ...
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Page 18
Mid-term Plan Nissan Power 88
Performance
Corporate Data
Corporate Governance
NISSAN Annual Report 2011
17
Nissan Power 88 identifies six strategies as levers the company will use to achieve results according to plan. The six strategies are as follows.
Pillar 1
Strengthening brand power
To ...
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Page 19
...'s sales outperformed the 12.6% of global total industry volume (TIV) growth, which resulted in an overall market share of 5.8%. In fiscal 2010, Nissan had a solid product offensive. The company launched ten all-new models globally, including its first zero-emission, affordable car, the Nissan LEAF...
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Page 20
Mid-term Plan
Performance
Corporate Data
Corporate Governance
NISSAN Annual Report 2011
Fiscal 2010 Sales Performance
19
Sales in Mexico increased 20.2% to 195,000 units and sales in Canada increased 3.5% to 83,300 units. Fuel-efficient models like the Rogue, Sentra and Altima contributed to ...
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Page 21
Mid-term Plan
Performance
Corporate Data
Corporate Governance
NISSAN Annual Report 2011
Fiscal 2011 Sales Outlook and New Technologies
Fiscal 2011 Overview
20
The company expects global sales to reach 4,600,000 units, an increase of 9.9% from the prior year. The assumption for global TIV is 76...
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Page 22
Mid-term Plan
Performance
Corporate Data
Corporate Governance
NISSAN Annual Report 2011
Financial Review
Fiscal 2010 Financial Performance
Net sales For fiscal year 2010, consolidated net revenues increased 16.7%, to ¥8.773 trillion, which reflected sales volume increase in spite of the strong ...
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Page 23
Mid-term Plan
Performance
Corporate Data
Corporate Governance
NISSAN Annual Report 2011
Financial Review
22
Net income Net non-operating profit improved ¥104.2 billion from negative ¥103.9 billion to ¥0.3 billion in fiscal 2010. The positive impact came from the equity in earnings of ...
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Page 24
Mid-term Plan
Performance
Corporate Data
Corporate Governance
NISSAN Annual Report 2011
Financial Review
23
Credit rating Nissan's long-term credit rating with R&I is A with a stable outlook. S&P's long-term credit rating for Nissan is BBB+ with a stable outlook. Nissan's rating with Moody's ...
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Page 25
...Plan
Performance
Corporate Data
Corporate Governance
NISSAN Annual Report 2011
Financial Review
24
Dividend Nissan's strategic actions reflect not only its long-term vision as a global company that creates sustainable value but also show the company's commitment to maximizing total shareholder...
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Page 26
Mid-term Plan
Performance
Corporate Data
Corporate Governance
NISSAN Annual Report 2011
Financial Statements
Consolidated Balance Sheets
Prior Fiscal Year
As of March 31, 2010
25
(Millions of yen)
Current Fiscal Year
As of March 31, 2011
Assets Current assets Cash on hand and in banks Trade ...
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Page 27
...
Corporate Data
Corporate Governance
NISSAN Annual Report 2011
Financial Statements
26
Consolidated Balance Sheets
Prior Fiscal Year
As of March 31, 2010
(Millions of yen)
Current Fiscal Year
As of March 31, 2011
Liabilities Current liabilities Trade notes and accounts payable Short-term...
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Page 28
Mid-term Plan
Performance
Corporate Data
Corporate Governance
NISSAN Annual Report 2011
Financial Statements
27
Consolidated Statements of Income
Prior Fiscal Year
From April 1, 2009 To March 31, 2010
(Millions of yen)
Current Fiscal Year
From April 1, 2010 To March 31, 2011
Net sales Cost ...
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Page 29
Mid-term Plan
Performance
Corporate Data
Corporate Governance
NISSAN Annual Report 2011
Financial Statements
28
Consolidated Statements of Cash Flows
Prior Fiscal Year
From April 1, 2009 To March 31, 2010
(Millions of yen)
Current Fiscal Year
From April 1, 2010 To March 31, 2011
Cash flows ...
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Page 30
Mid-term Plan
Performance
Corporate Data
Corporate Governance
NISSAN Annual Report 2011
Executives
Board of Directors and Auditors
29
Executive Committee Members
Representative Board Members
Carlos Ghosn
President and Chairman
Toshiyuki Shiga Hiroto Saikawa
Board Members
Colin Dodge ...
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Page 31
...: Japan, Asia Purchasing
Colin Dodge*
Region: AMIE (Africa, Middle East, India, Europe) Region: Americas
Mitsuhiko Yamashita*
Research and Development TCSX (Total Customer Satisfaction Function)
Hidetoshi Imazu*
Manufacturing and SCM
Andy Palmer*
Global Product Planning Global Program Management...
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Page 32
... work together to maintain and promote our high compliance standards.
NISSAN'S INTERNAL GOVERNANCE SYSTEM
Shareholders appointment/ dismissal appointment/ dismissal audit appointment/ dismissal Board of Directors (incl. outside director) Executive Committee Operations Committee report direction...
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Page 33
... in place in other Nissan Group companies worldwide.
FISCAL 2011 GLOBAL COMPLIANCE COMMITTEE ORGANIZATION
NML Board of Directors Global Compliance Committee Operations Committee
Global Compliance Officer
Japan, Asia Pacific Management Committee Japan, Asia Pacific Compliance Committee Nissan Motor...
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Page 34
Mid-term Plan
Performance
Corporate Data
Corporate Governance
NISSAN Annual Report 2011
Maintaining Trust Through Transparency
33
Ensuring Personal Information Protection and Reinforcing Information Security Aware of our social responsibility to properly handle customers' personal information,...
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Page 35
... finance Nissan operates captive sales finance companies in Japan, United States, Canada, Mexico, China, Australia and Thailand. In these countries, banks and other financial institutions are also involved in providing financing solutions to Nissan's customers and dealers. Additionally, in Europe...
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Page 36
...
Corporate Governance
NISSAN Annual Report 2011
Maintaining Trust Through Transparency
35
2) Financial Market Nissan is exposed to various financial market related risks, such as foreign exchange, interest rates and commodity prices. It is general policy of Nissan not to use derivative products...
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Page 37
Mid-term Plan
Performance
Corporate Data
Corporate Governance
NISSAN Annual Report 2011
Maintaining Trust Through Transparency
36
establishing effective screening and collection systems and structures. Credit applicants are all subject to credit assessments of their creditworthiness under a ...
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Page 38
... persons responsible for global quality to confirm the progress of Nissan quality improvement globally. With respect to new model projects, in order to achieve the quality target of each project, milestone meetings set each key process of design, prepare for production and production, confirm key...
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Page 39
Mid-term Plan
Performance
Corporate Data
Corporate Governance
NISSAN Annual Report 2011
Maintaining Trust Through Transparency
38
As described above, Nissan is implementing thorough quality checks before new model launches. Nissan is advancing quality improvement activities also after launch ...
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Page 40
...
Global, corporate focuses
Functional, regional focuses
Customers
Plan
Global Environmental Planning Office
PDCA
Global Environment Management Committee
Employees
Environmental Advisory Meetings, etc.
Business partners
Act
Do
PDCA
Check
PDCA
Shareholders and investors
Communities...
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Page 41
...
Decision / Instruction Report
Deputy Chief Responsible for recovery action
Decision / Instruction Report
Communication External & Government Affairs Human Resources Asset Management Finance Supply Chain Management Market & Sales Parts Logistics Affiliated Companies Administration
Production...
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Page 42
... in order to expand markets globally. To deal with such risk, Nissan has been conducting risk assessment before making sourcing decisions, providing support for improvement activities after sourcing and implementing quality checks at key points in the production and logistics process. In 2011, we...
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Page 43
Mid-term Plan
Performance
Corporate Data
Corporate Governance
NISSAN Annual Report 2011
Maintaining Trust Through Transparency
42
3 elements of production Risk factor
HR/Workforce
Purchased parts/ Raw materials
Facilities/Equipment
Natural disasters (earthquakes)
• Reinforcement of ...
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Page 44
... of the insurance conditions by negotiating with insurance market together with our Alliance partner Renault from fiscal 2011. • Transportation and storage of vehicles and products for sales This programs covers risks of transportation and the supply chain for parts and products globally. By...
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Page 45
Mid-term Plan
Performance
Corporate Data
Corporate Governance
NISSAN Annual Report 2011
Maintaining Trust Through Transparency
44
Nissan Global Reinsurance, established in Bermuda, reinsures a certain amount of risks for each of our global programs. Utilization of a captive insurance company ...
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Page 46
...-term Plan
Performance
Corporate Data
Corporate Governance
NISSAN Annual Report 2011
Information
Financial Data
To obtain more detailed financial information, please visit our IR website noted below.
http://www.nissan-global.com/EN/IR/
45
For further information, please contact:
Nissan Motor...