TOKYO, April 23 (Reuters) - Japan's Nissan Motor Co said on Wednesday it had erased its net automotive debt as of March 31, the end of the last business year, delivering on one of the promises under its growth plan two years ahead of schedule.
Japan's third-largest automaker said it now had a positive balance of eight billion yen ($66.7 million), compared with a net debt of 270.1 billion yen at the end of September. Before restructuring began in 1999, that figure was 2.1 trillion yen.
Under its growth plan, called "Nissan 180", the automaker also aims to sell one million additional vehicles worldwide by 2005 compared with 2001 and secure an average operating margin of eight percent.
Nissan is 44.4 percent owned by France's Renault . ($1=119.88 yen)