The Nissan Group (the "Group" or "Nissan") consists of the Company, subsidiaries, affiliates, and other associated companies. Its main businesses include manufacturing and sales of vehicles and automotive parts. In addition, the Group provides sales finance services to support sales activities of the above businesses.
Although the exercise of voting rights of the shares in Renault directly and indirectly held by the Company is restricted in accordance with the Commercial Code of France, the Company has accounted for its investment in Renault by the equity method as the Company exercises significant influence over Renault’s financial and operating policies through its participation in a jointly and equally owned management company (Renault-Nissan BV) and through its Board members (comprising 50% of Renault-Nissan BV’s Board of Directors). This joint venture company is treated as an affiliate because it has the power to decide business issues of importance to both Renault and Nissan based on the Articles of Incorporation of each company or on an agreement on business administration. And also Renault is treated as other associated company because it holds 43.7% of the voting rights of the Company.
The automobile industry is currently experiencing intensified market competition worldwide. To win given such intense competition, the Group maximizes its efforts in all aspects of technology development, product development and marketing strategy to timely provide products that address customer needs. Nevertheless, the failure to timely address customer needs or improper responses to environmental and/or market changes could have a significant effect on the Group’s financial position and business performance.
Of these 19 companies, Nissan Mexicana, S.A. de C.V. and 11 other subsidiaries are consolidated by using their financial statements as of the parent fiscal year end which are prepared solely for consolidation purposes. Yulon Nissan Motor Co., Ltd. and 6 other subsidiaries are consolidated by using their financial statements as of their respective fiscal year end, and necessary adjustments are made to their financial statements to reflect any significant transactions from January 1 to March 31.
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In accordance with a resolution of its Board of Directors’ meeting held on April 19, 2018, the Company made a capital injection into Nissan North America, Inc., a consolidated subsidiary of the Company, and then Nissan North America, Inc. made a capital injection into its own subsidiary, Nissan Motor Acceptance Corporation ("NMAC") in order to support NMAC’s business growth and enhance its capital ratio.
The Group has established the Global Nissan Head Office to function as its global headquarters. It decides group resource allocation to the above respective businesses and manages their business operations group-wide. Also it operates the Global Nissan Group through six Regional Management Committees and handles cross-regional matters such as research & development, purchasing, manufacturing, and so forth.
