Ghosn guides Nissan off critical list

Nissan Motor Co. Ltd. is back in the black after posting record earnings for 2000. On May 17 the Japanese automaker reported a consolidated net profit of $2.7 billion for the fiscal year ending March 31, 2001. The earnings beat Wall Street expectations and Nissan's own forecast of $1.8 billion made last October. “The Nissan Revival Plan has produced the best financial performance in the company's history as far as we can reliably trace it,” crows Nissan President Carlos Ghosn. Unit sales increased 4% to 2,632,000, outpacing Honda Motor Co. Ltd. results, but revenues of $13 billion still trail Honda's. Operating profits tripled to $2.3 billion and consolidated net automotive debt dropped by $3.2 billion to $7.7 billion. Mr. Ghosn hopes to increase Nissan sales an extra 1 million units annually by March 2006, with the introduction of 22 all-new models over the next three years.