Company Perspectives:Nissan's challenge is to enhance its corporate value and to build acorporate foundation that will enable the Company to win out in thecompetitive environment of the 21st century. The management team isalso keenly aware of its responsibility to meet the expectations of shareholders by reinstating dividend payments as soon as possible.We will do our utmost to achieve a new corporate consciousness andto implement sweeping improvements in our corporate structure. Welook forward to the continuing support and guidance of our shareholders as we strive to attain these goals.Key Dates:1911 : Masujiro Hashimoto founds the Kwaishinsha Motor Car Works inTokyo.1914 : Hashimoto introduces his first car, the DAT.1918 : The Datson model is first produced.1932 : The Datson brand is changed to Datsun.1933 : The manufacturing and sale of Datsun cars is taken over by theJidosha Seizo Company, Ltd.1934 : Jidosha Seizo changes its name to Nissan Motor Co., Ltd.Early 1940s:During World War II, the company makes military trucksand engines for airplanes and torpedo boats.1951 : Nissan becomes a publicly traded company.1952 : Nissan enters into a license agreement with U.K.-based AustinMotor Company Ltd.
1958 : Export of cars to the U.S. market begins.1966 : The company merges with Prince Motor Company Ltd.1981 : The company begins changing its name from Datsun to Nissanin the U.S. market.1989 : The Infiniti line of luxury automobiles is introduced.1992 : The company posts the first pretax loss in its history as a publiccompany; Nissan introduces the Altima small luxury sedan and theQuest minivan, the latter a joint development with Ford Motor Company.1994 : Nissan posts a loss of nearly US$2 billion.1999 : Nissan and Renault S.A. enter into a global alliance, withRenault taking a 37 percent stake in Nissan. A massive restructuringbegins.
Company History:
Established in 1933, Nissan Motor Co., Ltd. was a pioneer in themanufacturing of automobiles. Nearly 70 years later, Nissan hasbecome one of the world's leading automakers, with annual productionof 2.4 million units, which represented 4.9 percent of the globalmarket. Domestically, the company sells 774,000 vehicles on anannual basis, placing it second behind Toyota Motor Corporation.About 35 percent of Nissan's vehicles are sold in Japan, 25 percent inthe United States, and 20 percent in Europe. In the North Americanmarket, the company's top models include the Infiniti, Maxima, Altima,and Sentra passenger cars, the Quest minivan, the Frontier pickuptruck, and the Pathfinder sport utility vehicle. After losing money for most of the 1990s, Nissan entered into a global alliance with Renault
S.A. in March 1999, with the French company taking a 37 percentstake in Nissan. A massive restructuring was then launched. Early HistoryIn 1911 Masujiro Hashimoto, a U.S.-trained engineer, founded theKwaishinsha Motor Car Works in Tokyo. Hashimoto dreamed of building the first Japanese automobile, but lacked the capital. In order for his dream to come true, he contacted three men--Kenjiro Den,Rokuro Auyama, and Keitaro Takeuchi--for financial support. Toacknowledge their contribution to his project, Hashimoto named hiscar DAT, after their last initials. In Japanese, 'dat' means 'escapingrabbit' or 'running very fast.'Debuting in 1914, the first DAT was marketed and sold as a tenhorsepower runabout. Another version, referred to as 'datson' or 'sonof dat,' was a two-seater sports car produced in 1918. One year later,Jitsuyo Jidosha Seizo Company, another Nissan predecessor, wasfounded in Osaka. Kwaishinsha and Jitsuyo Jidosha Seizo combined in1926 to establish the Dat Jidosha Seizo Company. Five years later, theTobata Imaon Company, an automotive parts manufacturer, purchasedcontrolling interest in the company. Tobata Imaon's objective was tomass-produce products that would be competitive in quality and pricewith foreign automobiles.In 1932, 'Datson' became 'Datsun,' thus associating it with the ancientJapanese sun symbol. The manufacturing and sale of Datsun cars wastaken over in 1933 by the Jidosha Seizo Company, Ltd., which wasestablished in Yokohama that year through a joint venture betweenNihon Sangyo Company and Tobata Imaon. In 1934 the companychanged its name to Nissan Motor Co., Ltd., and one year later theoperation of Nissan's first integrated automobile factory began inYokohama under the technical guidance of American industrialengineers.Datsun cars, however, were not selling as well as expected in Japan.Major U.S. automobile manufacturers, such as General MotorsCorporation (GM) and the Ford Motor Company, had establishedassembly plants in Japan during this time. These companies
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