In the current adverse economic environment, Nissan is hit with three challenges at one time: the credit crisis, the economic recession and the strengthening yen.

In order to keep our company focused on the necessary recovery of our results, we have decided to suspend our NISSAN GT 2012 business plan, retaining only our commitments on quality and electric vehicles as key business objectives.

We have planned a number of specific actions to respond to the global crisis, with a disciplined focus on recovering profit, preserving cash and pursuing deeper synergies with our Alliance partner, Renault. These efforts will reinforce our ability to manage through the global crisis, but they also position Nissan for rapid, strong growth when conditions improve.

The Nissan Light Commercial Vehicle Business Unit will continue to contribute to our company’s performance. Pursuing our vision to become a leading player in the global LCV market will enable us to secure a more competitive position that will benefit Nissan long after the current crisis subsides