Nissan CEO Ghosn Underlines Power 88 Progress at Annual Shareholder Meeting

YOKOHAMA - Nissan CEO Carlos Ghosn reflected on a solid start to the Power 88 midterm plan Tuesday, outlining progress at the company's annual shareholder meeting.

Ghosn and other executives pinpointed strong sales and profits, despite the triple challenge of recovery from Japan's earthquake and tsunami, flooding in Thailand, and the strong yen.

"In 2011, our focus was naturally on Japan and leading the recovery efforts in Tohoku following the earthquake and tsunami," said Ghosn.

"Thanks to the generosity of our employees, suppliers and partners, we were able to make a meaningful effort to the lives of those affected by the tragic events of last year."

For Nissan stockholders, 200 of whom attended a special event with company executives at the Oppama factory on Saturday, the annual meeting is an opportunity to put questions to decision-makers.

CEO Ghosn said Nissan is on track to meet goals of respective 8% market share and operating profit by fiscal 2016, even as the supercharged yen hurts Japanese exporters.

"We have a vision for the future which is very clear. We have a vision for the product, we have a vision for the technology, we have a vision for the company," Ghosn said.

"Nobody can say today that Nissan does not have a vision or that Nissan does not have a strategy."

With ten new models being launched this year and ambitious plans for the soon-to-be returned Datsun brand in 2014, Ghosn said shareholders can expect more acceleration in the year ahead.

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