News Column

Nissan holds 115th ordinary general meeting of shareholders

June 25, 2014

ENP Newswire - 25 June 2014

Release date- 24062014 - YOKOHAMA, Japan - Nissan Motor Co., Ltd. shareholders today confirmed support for the company's CEO and board of directors with near-unanimous approval of management's three proposals during the 115th Ordinary General Meeting of Shareholders.

President and CEO Carlos Ghosn and Chief Competitive Officer (CCO) Hiroto Saikawa reviewed the company's performance during the past fiscal year and the outlook for the year ahead.

The 115th Ordinary General Meeting of Shareholders was held at the National Convention Hall of Yokohama and lasted one hour and 49 minutes. 1,617 shareholders attended the meeting.

The three items approved by the shareholders included:

.the appropriation of retained earnings for the fiscal year and the total amount of dividends paid to shareholders;

.the election of three new directors to fill vacancies on the Board; and,

.the election of three Statutory Auditors.

The company is at the mid-point of the Nissan Power 88 business plan. The business report by Saikawa highlighted achievements in fiscal year 2013. He noted that 2013 was a milestone year in which the company made progress in its financial and sales performance, business expansion efforts, leadership in Zero Emissions, development of breakthrough Autonomous Drive technology, and launch of innovative new products and technologies.

Ghosn then offered shareholders the outlook for this fiscal year, reiterating the comprehensive strategy in place for further growth. Global automotive industry sales volume is anticipated to reach 84.4 million units during Nissan's fiscal year (April 2014 to March 2015), an increase of 1.6 percent year-on-year. The company forecasts its own sales for the year will rise by 8.9% to 5.65 million units, equivalent to a record market share of 6.7%. Net income is forecast to be 405 billion yen (USD 4.05 billion; euro 2.89 billion).

The CEO told shareholders that the solid progress achieved over recent years has put Nissan in a healthy financial position, enabling the company to issue a 30 yen per share dividend to shareholders for FY2013. Nissan forecasts a 10 percent increase in the dividend to 33 yen per share for fiscal year 2014. Ghosn said that with the strong financial growth projected for the second half of the Power 88 plan, the company would increase the minimum targeted payout dividend ratio from 25 percent to 30 percent of net income.

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Source: ENP Newswire

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