Tokyo -- Nissan Motor Co., Ltd., announced today that it has established a wholly-owned ASEAN headquarters in Singapore, which will commence operations on April 1.
Nissan Asia Pacific Pte., Ltd., is capitalized at US$10 million and will supervise business development in the ASEAN region. The headquarters plans to oversee Nissan's core business functions throughout the region including regional marketing & sales, franchise management, public relations and production order processing. Keiji Shimada, currently in charge of Strategy and Planning, Global Marketing & Sales, at Nissan's corporate headquarters in Tokyo, has been appointed as the managing director of the newly formed company.
Nissan also announced it has set up a treasury center in Singapore to oversee both Asian and Oceania markets. Nissan International Finance Singapore Pte., Ltd., is capitalized at US$5 million and will also begin operations on April 1. Yoshiko Terakami, currently in charge of Cash Management in the Treasury Department, will head this new organization as the managing director.
Nissan sold 76,345 units of vehicles in the 4 major ASEAN countries (Thailand, Malaysia, Indonesia, Philippines) in fiscal year 2003, up 7.9% from fiscal year 2002.
In its continuing efforts to grow the business well after the completion of its current three-year business plan NISSAN 180, Nissan will start its next three-year business plan NISSAN Value-Up from April.
Under NISSAN Value-Up, Nissan will significantly expand its global presence. This includes new opportunities for investment and growth in markets such as China, Russia, Egypt and India. The ASEAN region is also expected to grow significantly, and the company remains focused on further localization, manufacturing expansion, and improvements in logistics in the region.
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