Tokyo - Nissan Motor Co., Ltd. announced financial results for the fiscal year ended March 31, 2000.

The company reported a consolidated operating profit of 82.6 billion Yen ($ 778.9 million, Euro 809.5 million) with net sales of 5,977.1 billion Yen ($ 56.39 billion, Euro 58.60 billion), which decreased 9.2% compared to the previous year and 10.5% on a consistent basis. Consolidated operating income was 1.4% of net sales on a consistent basis compared to 1.8% in fiscal year 1998 because of the impact of adverse changes in foreign exchange rates. The average exchange rate for the dollar came to 112 Yen in fiscal year 1999 compared to 128 Yen in fiscal year 1998.

The company announced one-time extraordinary charges totaling 711.1 billion Yen ($ 6.71 billion, Euro 6.97 billion) leading to a consolidated net loss of 684.4 billion Yen ($ 6.46 billion, Euro 6.71 billion).

The results published today close a year of transition for Nissan. After the conclusion of an alliance with Renault in March 1999, Nissan announced a comprehensive revival plan in October 1999. With the necessary and expected clarification contained in the provisions reported below, Nissan is today on a fast track to returning to lasting profitable growth.

Note: Amounts expressed in US$ and Euro in this press release have been translated for convenience only at 106 Yen = 1 US$ and 102 Yen = 1 Euro, the approximate rate of exchange on March 31, 2000.
Fiscal year 1998 figures have been restated in order to account for the change in the company's scope of consolidation. For the sake of consistency, when comparisons to fiscal year 1999 are made, the restated fiscal year 1998 numbers are used.

Consolidated Financial Results:

1. Unit Sales:
Nissan's global vehicle sales of passenger cars and light commercial vehicles for the full year 1999 reached 2,415,000 units compared to 2,578,000 units on a consistent basis in fiscal year 1998. Domestic sales totaled 758,000 units, a drop of 13.2% from the prior year (873,000 units), sales in North America (USA and Canada) rose 11.1% to 730,000 units from 657,000 units in 1998 while Mexican unit sales were stable at 144,000 units compared to 145,000 units in 1998. In Europe, sales decreased 8.9% to 501,000 units from 550,000 units the prior year. Other foreign markets totaled 282,000 units, down 20.1% from fiscal year 1998 (353,000 units).

2. Net Sales
Consolidated net sales for the full year came to 5,977.1 billion Yen ($ 56.39 billion, Euro 58.60 billion), a drop of 10.5% on a consistent basis from 1998. This fall is mainly due to the negative impact of the appreciation of the Yen, particularly in respect to the US$ and Euro and to the decline in total unit sales of 6.3% compared to fiscal year 1998.

3. Operating Income
Consolidated operating income decreased 31.7% on a consistent basis to 82.6 billion Yen ($ 778.9 million, Euro 809.5 million) and represented 1.4% of sales as compared to 1.8% for fiscal year 1998. The decline in operating income is attributable to the negative impact of the appreciation of the Yen and to lower unit sales, in particular in the domestic market. This impact was not fully offset by reductions in costs and selling and general administrative expenses.

4. Ordinary Income
Consolidated ordinary income came to a loss of 1.6 billion Yen ($ 15.5 million, Euro 16.1 million) compared to a profit of 30.1 billion Yen ($ 284.0 million, Euro 295.1 million) on a consistent basis in the prior year. This loss is the result of lower operating profits despite lower non-operating expenses such as interest on outstanding debt as a result of lower net automotive indebtedness.

5. Income before income taxes
Consolidated income before taxes reached a loss of 712.7 billion Yen ($ 6.72 billion, Euro 6.99 billion) compared to a loss of 59.6 billion Yen ($ 562.3 million, Euro 584.3 million) on a consistent basis in 1998. This loss is the result of extraordinary non-recurring charges of 711.1 billion Yen ($ 6.71 billion, Euro 6.97 billion) relating to the following items:

1. change in the accounting of pensions and retirement benefits reserve to cover service of all past retirement liabilities: 275.9 billion Yen
2. plant closures and expenses related to the Nissan Revival plan: 232.7 billion Yen.
3. new accounting methods including a change in the calculation of provisions relating to product warranties to bring the accounts in line with internationally accepted accounting practices, booking R & D expenses directly to the income statement which were previously amortized as well as provisions resulting from the change in the residual value of fixed assets in view of changing the depreciation method of plant, property and equipment in Japan from the declining balance to the straight line method to bring accounts in line with internationally accepted practices: 114.2 billion Yen
4. other provisions relating the values of real estate holdings and losses on investments: 88.3 billion Yen.

6.Income taxes
The company adopted tax effect accounting starting in the current reporting period. This change resulted in the recognition of 30.6 billion Yen ($ 288.6 million, Euro 299.9 million) of deferred tax benefits. The majority of the tax benefits have been deferred to future years. Current income taxes amounted to 40.5 billion Yen ($ 382.1 million, Euro 397.1 million) giving a net tax impact of 9.9 billion Yen ($ 93.5 million, Euro 97.2 million) for the period compared to a charge of 26.1 billion Yen ($ 246.1 million, Euro 255.7 million) in 1998.

7. Net income
Consolidated net loss after tax reached 684.4 billion Yen ($ 6.46 billion, Euro 6.71 billion) compared to a loss of 28.5 billion Yen ($ 268.9 million, Euro 279.4 million) for the full year 1998 on a consistent basis.

8. Indebtedness and Financial Condition
Consolidated net financial indebtedness totaled 2,481.5 billion Yen ( $ 23.41 billion, Euro 24.33 billion) at the end of the fiscal year. Consolidated net financial indebtedness of the automotive business reached 1,348.7 billion Yen ($ 12.72 billion, Euro 13.22 billion), down from 2,040.9 billion Yen ($ 19.25 billion, Euro 20.01 billion) on a consistent basis from the end of fiscal year 1998. The net financial indebtedness of the sales finance companies reached 1,132.8 billion Yen ($ 10.69 billion, Euro 11.11 billion). The decrease in total consolidated net financial indebtedness in fiscal year 1999 compared to fiscal year 1998 is due primarily to the capital injection of Renault, while a foreign exchange translation of 82.3 billion yen ($ 776 million, Euro 807 million) and other operating factors contributed to the drop.

9. Outlook
The outlook for fiscal year 2000 contains a number of economic and market risks. In Japan, while overall economic activity may have stabilized, total demand for passenger cars and light commercial vehicles remains weak. Furthermore, the Yen and Pound Sterling may continue their adverse rise compared to the Euro thereby exerting downward pressure on operating margins. Finally, interest rates, which are rising in Europe and the United States, may begin to follow the same pattern in Japan.

However, there are numerous opportunities for the new fiscal year. The Nissan Revival Plan which is now fully deployed in the company is having a faster and deeper impact than planned. Nissan will also further leverage the Alliance with Renault in the areas of purchasing, platform co-development and international growth. Finally, the dollar's level versus the Yen has been so far above fiscal year 2000's business plan assumption.

Nissan's financial forecast for the year shows an operating profit of 110 billion Yen, an ordinary profit of 40 billion Yen and a net profit of 60 billion Yen. Commenting the forecast, Carlos Ghosn, Chief Operating Officer said: "We made three commitments when we announced the Nissan Revival Plan. Returning Nissan to net profit after a long period of unprofitable years was the most crucial one. In fiscal year 2000, Nissan will deliver on this first commitment and will be on track to deliver on the two remaining."

CONSOLIDATED FINANCIAL RESULTS

(For the fiscal years ended March 31, 2000 and 1999)

	FY ended March 31	FY ended March 31
(millions of yen)	2000	1999	Change (%)
Net sales	5,977,075	6,580,001	-9.2
Operating income	82,565	109,722	-24.8
Ordinary income	-1,642	24,463	---
Net income	-684,363	-27,714	---
Net income per share (yen)	-179.98	-11.03	---
Fully diluted net income per share (yen)	---	---	---
Ratio of net income to equity (%)	-62.7	-2.2	---
Return on assets (%)	---	0.3	---
Return on sales (%)	---	0.4	---

FINANCIAL CONDITION

	March 31	March 31
	2000	1999
Total assets (millions of yen)	6,541,184	6,917,561
Shareholders' equity (millions of yen)	929,356	1,254,595
Equity ratio (%)	14.2	18.2
Shareholders' equity per share (yen)	236.71	499.24

SEGMENT INFORMATION

(For the fiscal years ended March 31, 2000)

(millions of yen)	Net Sales	Operating income	Assets
Japan	2,626,866	19,430	5,288,346
North America	2,217,775	87,340	1,674,905
Europe	876,931	-38,112	405,638
Others	255,503	-3,086	70,420
Sub-total	5,977,075	65,572	7,439,309
Adjustment	-	16,993	-898,125
Total	5,977,075	82,565	6,541,184

FORECAST OF CONSOLIDATED FISCAL YEAR ENDING MARCH 31, 2001

(millions of yen)	March 31, 2001
Net sales	6,100,000
Ordinary income	40,000
Net income	60,000

APPLICATION OF CONSOLIDATION AND THE EQUITY METHOD

The number of consolidated subsidiaries: 342
	JATCO Trans Technology Ltd.
	Nissan Shatai Co., Ltd.
	Yokohama Nissan Motor Co., Ltd.
	Nissan North America, Inc.
	Nissan Europe N.V.
	Nissan Mexicana, S.A. de C.V.
	and other 336 companies
The number of affiliates consolidated by the equity method: 73
	Nissan Diesel Motor Co., Ltd.
	Calsonic Corporation
	Kansei Corporation
	Yulon Motor Co., Ltd.
	Siam Nissan Automobile Co., Ltd.
	and other 68 companies
Companies newly consolidated in last fiscal year ended March 31, 2000: 157
	Nissan Shatai Co., Ltd.
	Aichi Machine Industry Co.,Ltd.
	and other 155 companies
Companies excluded from consolidation in last fiscal year: 18
	Sendai Nissan Motor Co., Ltd.
	Nissan Finance (GB) Ltd.
	and other 16 companies
Companies newly consolidated by the equity method in last fiscal year: 21
	Osaka Nissan Co., Ltd.
	and other 20 company
Companies excluded from consolidation by the equity method in last fiscal year: 49
	Nissan Shatai Co., Ltd.
	Aichi Machine Industry Co.,Ltd.
	Tokyo Nissan Auto Sales Co.,Ltd
	TU-KA cellular Tokyo Inc. and TU-KA group 8 companies
	and other 37 companies

NON-CONSOLIDATED FINANCIAL RESULTS

(For the fiscal years ended March 31, 2000 and 1999)

(millions of yen)	2000	1999	Change (%)
Net sales	2,997,020	3,319,659	-9.7%
Operating income	-15,674	15,165	---
Ordinary income	-35,850	14,646	---
Net income	-790,064	-34,809	---
Net income per share (yen)	-204.93	-13.85	---
Fully diluted net income per share (yen)	---	---	-
Ratio of net income to equity (%)	-57.7	-2.3	---
Return on assets (%)	-1.0	0.4	---
Return on sales (%)	-1.2	0.4	---

(1)	Computed based on the following average number of shares of common stock outstanding during fiscal years ended March 31,
	2000 and 1999:	March 31, 2000 ---3,855,272,918
		March 31, 1999 ---2,513,043,751
(2)	There is a change of accounting method.
(3)	"Change(%)" means the rate of declease on Net sales from the previous year.

DIVIDENDS

		FY ended March 31	FY ended March 31
		2000	1999
Cash dividends per share (yen)
	Interim	0.00	0.00
	Year-end	0.00	0.00
Cash dividends applicable to the year
	(millions of yen)	0	0
Payout ratio (%)		0.0	0.0
Ratio of dividends paid to equity (%)		0.0	0.0

FINANCIAL CONDITION

	March 31	March 31
	2000	1999
Total assets (millions of yen)	3,563,853	3,595,272
Shareholders' equity (millions of yen)	1,263,075	1,477,498
Equity ratio (%)	35.4%	41.1%
Shareholders' equity per share (yen) *	317.57	587.93

* Computed based on the following number of shares of common stock outstanding as of March 31, 2000 and 1999:
	March 31, 2000 --- 3,977,293,751
	March 31, 1999 --- 2,513,043,751

VEHICLE PRODUCTION

(For the fiscal years ended March 31, 2000 and 1999)

	FY ended March 31	FY ended March 31
	2000	1999	Change (%)
Worldwide production (units)	2,404,650	2,465,863	-2.5%
Domestic	1,336,918	1,528,461	-12.5%
Overseas	1,067,732	937,402	13.9%

NON-CONSOLIDATED SALES BY PRODUCT LINE

(For the fiscal years ended March 31, 2000 and 1999)

		FY ended March 31	FY ended March 31
		2000	1999	Change (%)
Vehicle sales (units)
Total vehicle sales		1,356,575	1,584,550	-14.4%
	Domestic	744,585	873,705	-14.8%
	Export	611,990	710,845	-13.9%
Passenger cars		1,159,290	1,355,082	-14.4%
	Domestic	639,116	768,277	-16.8%
	Export	520,174	586,805	-11.4%
Commercial vehicles		197,285	229,468	-14.0%
	Domestic	105,469	105,428	0.0%
	Export	91,816	124,040	-26.0%
Net sales (millions of yen)
Total net sales		2,997,020	3,319,659	-9.7%
	Domestic	1,546,744	1,722,093	-10.2%
	Export	1,450,275	1,597,565	-9.2%
Vehicles		2,309,154	2,616,537	-11.7%
	Domestic	1,272,519	1,418,404	-10.3%
	Export	1,036,634	1,198,132	-13.5%
Production parts & components
for overseas production		246,628	221,383	11.4%
	Domestic	---	---
	Export	246,628	221,383	11.4%
Automotive parts		301,382	330,169	-8.7%
	Domestic	210,889	232,494	-9.3%
	Export	90,493	97,674	-7.4%
Forklifts & marine equipment		39,751	44,057	-9.8%
	Domestic	15,183	16,906	-10.2%
	Export	24,568	27,151	-9.5%
Aerospace equipment		45,911	51,157	-10.3%
	Domestic	45,911	51,157	-10.3%
	Export	---	---	---