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NISSAN REPORTS FINANCIAL RESULTS FOR FISCAL 1992

 NISSAN REPORTS FINANCIAL RESULTS FOR FISCAL 1992
 DETROIT, May 29 /PRNewswire/ -- Nissan Motor Co. Ltd., based in


Tokyo, today announced its non-consolidated and consolidated financial results for fiscal 1992, ended March 31, 1992.
 In Japan, the pace of economic growth slowed down as corporate capital investment and personal spending slackened off. A sluggish domestic market created a difficult operating environment for Japan's automobile manufacturers.
 Despite less-than-favorable operating conditions, Nissan's total domestic sales rose 3.6 percent to $19 billion (2,530 billion yen). Domestic vehicle sales rose 3.5 percent to $16.5 billion (2,196 billion yen), despite a 3-percent decline in volume sales, to 1,361,799 units.
 Total export sales posted a slight 0.4-percent increase to $13.1 billion (1,740 billion yen). Vehicle export sales declined 2 percent to $9.5 billion (1,264 billion yen), although the number of vehicles exported edged up 0.5 percent to 964,073 units.
 Nissan's non-consolidated net sales for the period rose 2.3 percent to $32.1 billion (4,271 billion yen). Operating income fell 71.8 percent to $254 million (34 billion yen), reflecting a substantial increase in operating expenses. Recurring income decreased 46.7 percent to $660 million (88 billion yen). Net income declined 30.8 percent to $407 million (54 billion yen).
 Net income per share was 16 cents (21.57 yen), compared with 23 cents (31.12 yen) in fiscal 1991.
 On a consolidated basis, Nissan's net sales increased 7.5 percent to $48.2 billion (6,418 billion yen). Operating income rose 16.4 percent to $1.1 billion (147 billion yen). Recurring income climbed 22.2 percent to $665 million (86 billion yen). Partially due to $338.3 million (45 billion yen) in profits from the sale of certain real estate, net income more than doubled to $762 million (101 billion yen).
 Commenting on the company's fiscal 1992 results, Nissan Executive Vice President and Chief Financial Officer Atsushi Muramatsu said, "At the consolidated level, we continue to post firm growth in net sales; in fiscal 1992, consolidated net sales reached a record high. Several factors, including the strengthening of our operations in Europe, are enabling us to maintain steady growth in net income."
 Nissan has invested both in Japan and major overseas markets, including the United States, in engineering and production facilities while strengthening service and sales operations. These investments have laid a strong foundation for the future. In North America, the company recently opened an $80 million Nissan Research and Development center for the design and engineering of vehicles for U.S. and Canadian customers. And it soon will open a $490 million plant expansion in Tennessee for production of a new, high-quality sedan, the Altima.
 For fiscal 1993, which will end March 31, 1993, Nissan projects non-consolidated net sales will increase to $32.3 billion (4,300 billion yen). Recurring income is expected to be $301 million (40 billion yen) and net income also to be $301 million (40 billion yen).
 Notes:
 (1) Financial data has been prepared in accordance with accounting principles and practices generally accepted in Japan.
 (2) Dollar equivalencies computed at 133 yen to the dollar, the exchange rate prevailing on March 31, 1992. Figures have been rounded.
 -0- 5/29/92
 /CONTACT: Shuji Kawasaki or Jim Gill of Nissan, 313-393-1893/ CO: Nissan North America, Inc. ST: Michigan IN: AUT SU: ERN


SB-JG -- DE014 -- 5147 05/29/92 11:19 EDT
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Date:May 29, 1992
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