Nissan holds its 118th Ordinary General Meeting of Shareholders

by Kriss Merchant
4 months ago
275 Views
0

Around Tuesday the 27th of June 2017, the Nissan Motor Company Ltd. shareholders voted to approve all management proposals at the company’s 118th Ordinary General Meeting of Shareholders.

The shareholder votes followed statements by Chairman Carlos Ghosn & President & Chief Executive Officer Hiroto Saikawa who highlighted Nissan’s solid performance during the past fiscal year & reaffirmed the financial outlook for fiscal year 2017.

Ghosn delivered an update on the growth & evolution of the Renault-Nissan Alliance & on the benefits expected for Nissan in terms of synergies & shared technologies. Based on the first three months of sales data for FY2017, the Alliance – which also includes Mitsubishi Motors Corporation – could become the world’s No. 1 automotive group by mid-year.

Nissan reaffirmed its forecast of a 5-yen increase in the full-year dividend to 53 yen a share for FY2017, reflecting the company’s healthy profitability & free cash flow. As previously disclosed – & calculated – under the equity accounting method for Nissan’s joint venture in China. Nissan expects net revenue to be 11.8 trillion yen for the 12 months ending March 31, 2018. Operating profit is targeted to reach 685 billion yen with a net income of 535 billion yen.

Shareholders approved the following resolutions :

  • Appropriation of retained earnings for the 118th fiscal year
  • Election of nine directors due to the expiration of terms of all directors
  • Election of one statutory auditor

The meeting, at the National Convention Hall of Yokohama lasted one hour & 45 minutes & was attended by 2,250 shareholders.

If only GTROC AGMs could be this short!