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Frankfurt: Nissan 'off the critical list'

Nissan is "off the critical list", according to president and chief executive officer Carlos Ghosn.

Speaking today at the Frankfurt motor show, he said that two years since he announced he was to lead the company in a three-year revival plan, he was confident Nissan would improve on its position in May when it revealed record financial results.

Mr Ghosn said: "We have many tasks to complete, but I am confident of the success of the company. We are off the critical list." To demonstrate his confidence he said that since the beginning of the year, "in a challenging global economic environment", Nissan achieved a net operating profit of 4.75% of sales. His confidence that the momentum of the Nissan Revival Plan would be maintained lead to a net income forecast for the year of 330 billion yen, or three billion euro on an operating profit of 5.5%.

Next month, Nissan will release its half year consolidated results and Ghosn also promised to reveal more details of the NRP's results at the Tokyo motor show.

The NRP was first announced in October 1999. Ghosn said then that a core element would be an increase in new product development - seven new products every year for three years, supported by a increase in capital expenditure from 3.8% of sales to 5% to insure growth beyond the end of the three-year plan. At Frankfurt, Nissan had on display the latest evidence of its product drive, the new Primera, launched next year, plus two concepts, the mm.e Micra replacement and the all-road Crossbow.

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