PERFORMANCE Nissan Annual Report 2004 11 THREE CRITICAL COMMITMENTS FOUR MAJOR BREAKTHROUGHS Top level  operating profit margin  among global automakers 1.4% 4.75% 7.9% 10.8% 10.0% 11.1% NRP NISSAN 180 NISSAN  Value-Up ’99 ’00 ’01 ’02 ’03 ’04 ’05 ’06 ’07 2,597 3,388 4,200 ’01 ’04 ’08 Commitment +791 +812 750 600 450 300 150 0 (Thousand units) 10 8 6 4 2 0 (% of consolidated operating margin) 187 203 182 234 312 434 +40% -0.5% 3.3% 1.4% 3.6% 8.0% 4.0% ’00 ’01 ’02 ’03 ’04 ’07 Hungary Romania Egypt India China Thailand Vietnam Mexico Mercosur Russia China Egypt India Thailand Pakistan Eastern Europe Gulf Countrles Consolidated Operating Profit Margin COP margin (%) NISSAN Value-Up Sales Volume (Units: 1000s) Return on Invested Capital (auto) (%) Infiniti Global Tier-1 bBrand Light Commercial Vehicles (LCV) Geographic Expansion Leading Competitive Countries (LCCs) ROIC average of 20% 1.3% 7.5% 12.7% 19.8% 20.1%* 21.3% NRP NISSAN 180 NISSAN  Value-Up ’99 ’00 ’01 ’02 ’03 ’04 ’05 ’06 ’07 Russia Middle East Japan* China Korea Taiwan North America *Japan launch after NISSAN Value-Up *Same scope pf consolidation as P&L, excluding change of cash compared to fiscal year 2003