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Nissan boss reveals positive impact of turnaround plan

Nissan says it is experiencing the positive signs of its turnaround plan with the announcement of a share dividend.

Net income for the financial year to March 31 was 187.4 billion Yen (£1.07 billion) compared to a loss of –790 billion Yen (-£4.5 billion) the previous year.

The company proposed a dividend of seven Yen (four pence) per share for the 2000 fiscal year.

Net sales were down slightly at 2,980.1 billion Yen (£17.1 billion) from 2,997 billion Yen (£17.2 billion).

Carlos Ghosn, Nissan president, said: “The fast and strong start of the Nissan Revival Plan (NRP) has allowed us to propose this dividend after only the first year of our three-year plan. Together with the doubling in our share price over the past fiscal year, this proposed payment is an important step in enhancing value for Nissan shareholders.”

In November Nissan announced operating profits of 134.4 billion Yen, boosted by reforms to cut costs, sell-off assets and trim payrolls. Net profit for the first half of 2000 was 172 billion Yen, a reversal of a 323.5 billion Yen net loss a year earlier.

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