Nissan Announces New Global Operations

Tokyo --- Nissan Motor Co., Ltd. (NML) announced today steps to globalize its organization and streamline decision making, underlining the pace of change which started five months ago with the launch of the company's comprehensive Revival Plan. The changes willbe effective from April 1, 2000.

Carlos Ghosn, Nissan chief operating officer, stressed the importance of globalizing Nissan's management to eliminate barriers and empower management for fast and effective decision making. Nissan's world headquarters will develop global strategies and targets with regional management who will be fully empowered and responsible for swift implementation. Global management's priorities are to better respond to the changing needs of world markets and promote cross functional work, in order to enhance the company's profitability and growth.

"Implementing the Nissan Revival Plan demands that we move quickly and our future organization will help us speed up and improve decision making," Ghosn said. "We are determined to build a truly global organization, which means one corporate strategy enriched and implemented by empowered local management."

Yoshikazu Hanawa remains chairman and chief executive officer. He will propose at the Board Meeting following the annual shareholders' meeting in June that his current title of president is assumed by Ghosn in addition to his function as COO.

Kanemitsu Anraku will leave the board* and executive committee, which will both be reduced from 10 to nine members. Anraku will become vice chairman responsible for external and government affairs. Financial operations will be streamlined under Thierry Moulonguet who is appointed chief financial officer and executive vice president for finance and information systems. Highlighting the importance of information technology, Shozo Kurihara, is appointed vice president and chief information officer with global responsibility.

Overseas, the North American and European organizations will be streamlined through the appointment of Norio Matsumura, executive vice president, as head of the newly formed management committees in these regions. This will strengthen and speed up the communication and decision making between the regions on one side, and Nissan's world headquarters and global functions on the other. These committees will be the key decision making bodies in their regions.

The management committees will consist of regional senior vice presidents responsible for: sales and marketing; manufacturing, purchasing and quality; finance and administration; and research and development. The North American committee will also include the heads of Canadian and Mexican operations. In order to strengthen global management, each regional senior vice president will have dual reporting lines with accountability for regional profitability and efficiency of their respective function.

Nissan North America president Nobuo Araki will return to Japan to another assignment. Nissan Europe president Sir Ian Gibson will retire from executive duties in Europe but will join the Nissan Europe supervisory board. In addition, he will be in charge of special European projects reporting to Matsumura.

A global marketing team will be established, headed by senior vice president Jean-Jacques Le Goff, complementing the present regional marketing organizations. Purchasing, finance, manufacturing, research and development have already come under global management. Underscoring the importance of the company's parts operations, Nissan will strengthen its worldwide parts business unit headed by senior vice president Yukio Kitahora who returns from Nissan North America.

To enhance Nissan's marketing in Japan, Shiro Tomii has been appointed senior vice president, marketing, Japan. In addition, support for local markets will be emphasized by the appointment of senior vice presidents Toshiyuki Shiga -- Asia, Oceania, Central and South America; and Keisuke Takebe -- Middle East and Africa.

Reporting directly to the COO will be senior vice presidents Masahiko Aoki and Kuniaki Sasaki, respectively responsible for human resources and administration of Nissan's affiliated companies.

The Nissan Revival Plan was announced on October 18, 1999. The NRP emphasizes three major commitments: return Nissan to profitability by fiscal year 2000; achieve a consolidated operating profit of 4.5 per cent of sales and reduce net automotive debt by a half to 700 billion Yen by fiscal year 2002.

* Effective after the annual shareholders' meeting in June

1. New line-up of Corporate Officers including Directors and their responsibilities effective April 1, 2000
(1) New Appointments

(2) Changes of EVPs and appointment of Vice Chairman

(3) Changes of SVP’s Responsibilities

Note: The followings are the planned new positions for resigning corporate officers.
Kensho Kusumi (To be proposed as the President, Nissan Real Estate Development Corporation)
Yoshi Iwashita (To be proposed as the President, Nissan Transport Co., Ltd.)
Nobuo Araki (To be proposed as the President, Tennex Co., Ltd.)
Tetsuaki Abe (To be proposed as the President, Nissan Prince Nagoya Sales,Co., Ltd.)

(4) Consolidation of Titles
Eliminate the title of Joseki-Jomu and consolidate into Jomu (SVP)

2. Changes of Representative Directors Effective April 1, 2000
Representative Directors will be Chairman, President and Director, CEO(Yoshikazu Hanawa) and Director, COO (Carlos Ghosn).

3. Changes in the Member of Board of Directors
(1) Changes in the Title (To be proposed for decision at the Board Meeting following the Annual shareholders meeting in late June.)

(2) Resigning Director
( Effective on the date of Shareholders meeting in late June)
Kanemitsu Anraku (Continue to serve as the Vice Chairman)

4. Changes of the Auditors
(1) Resigning Auditors
( Effective on the date of Shareholders Meeting in late June.)
Heiichi Hamaoka
Hiroshi Ariga

(2) New Appointments
(Subject to the Approval of Shareholders Meeting in late June)
Haruhiko Takenaka (A former Managing Director of Industrial Bank of Japan)
Hideo Nakamura (A current Executive Director of Fuji Bank Health Insurance Association)