Nissan sets up new finance/credit company

[noelsaw]

Nissan reported today that it would combine three of it's financial service affiliates into one new company in an attempt to become more competitive in the consumer auto finance industry. The new company would combine Nissan Credit Corp. and two unspecified affiliates. The announcement sent NML's shares up 3.44% on the day making it the highest in 12 months.

Japanese media, including the business daily Nihon Kezai Shimbun, are predicting that Nissan could pump a 30 billion yen in capital to inject into the new company. A Nissan source suggested that amount is somewhat over the top, but said the company would have a strong financial base. The company will be headed by a familiar face to Nissan North America.

The former head of NNA, Minoru Nakamura, who is accredited with begining NNA's turnaround, will head the new company. Masataka Matsumura, previously the leader of Nissan's U.S. consumer finance unit, will take seat as the Executive Vice President. Nissan will rely on this company in the U.S. and Asia. Renault will support Nissan in Europe and Latin American. Renault may use Nissan's financial services in it's push into Asia. The new company will provide other services than just auto financing, that could include credit cards offered to Nissan customers.

Imagine the possibilities....a Nissan Z credit card?

[This message has been edited by noelsaw (edited 06-30-2000).]

[**DONOTDELETE**]

Yeah i'd want a platinum Z card http://forums.freshalloy.com/forum/images/icons/grin.gif

[tbear]

I like Minoru Nakamura, he made really bold moves to save Nissan North America. He approved Xterra and Z concept. He also boosted Nissan dealer and employee's morale by showing prototype models of Maxima.

With Ghosn as Nissan boss, he will even make bolder moves in the new financial company.

[Deadpool]

June 30, 2000


Nissan Announces Organizational Changes

Tokyo -- Nissan Motor Co., Ltd. announced today organizational changes effective July 1, 2000 as follows.

1. Technology and Engineering Development Group

To efficiently promote vehicle-related modularization, the Module Development Department will be created in the
Vehicle Development Department No.1. The department will be responsible for the development of an overall strategy
to promote modularization and the cross-functional management of the design and engineering divisions in the process of
new products development.

2. Powertrain Operations Group

To bring motorsport vehicle development organizations in line with Nissan's current motorsports activities, the function of
the Motorsports Planning and Development Center will be transferred to the Engine Engineering Department, the
Advanced Engine Engineering Department and the Drivetrain Engineering Department. With this transfer, the expertize
for developing high performance vehicles that the Motorsports Planning and Development Center has accumulated over
the years will be utilized for the development of series production models.

In addition, the Engine Testing Group No.4 for the testing of high performance engines development will be newly
established in the Engine Engineering Department.

3. Global IT Division

The Engineering Information Systems Department which has been part of the Technology and Engineering Development
Group will be transferred to the Global IT Division. The IT-related organizations which have been divided into two
departments for business system and engineering will be unified and under the integrated management of the CIO (Chief
Information Officer). This change is aimed at improving the efficiency of the IT-related operations, including those of
affiliated companies.

4. Marine Division

Principal operations of the Marine Division such as product planning, product design, production control and after-sales
servicing will be transferred to *Nissan Marine Co., Ltd. Thus, these functions will be consolidated to achieve higher
management efficiency. With this reorganization, the Marine Division will be renamed Marine Administration Office,
which specializes solely in the administration work for affiliated companies, including marinas.

[noelsaw]

<BLOCKQUOTE><font size="1" face="Verdana, Arial[/img]quote:</font><HR>Originally posted by tbear:
I like Minoru Nakamura, he made really bold moves to save Nissan North America. He approved Xterra and Z concept. He also boosted Nissan dealer and employee's morale by showing prototype models of Maxima.

With Ghosn as Nissan boss, he will even make bolder moves in the new financial company.<HR></BLOCKQUOTE>

The Z concept...Our sources tell us that Hirshberg and Jason Vines (at the time VP of Communications) forced the issue by leaking info to mainstream press which than ran stories which then forced/encouraged Nissan to okay the new Z.

I guess it was inevitable that a new Z would emerge.

[This message has been edited by noelsaw (edited 06-30-2000).]

[sam2008]

The Nissan VQ engines, of V6 configuration, have featured among Ward's 10 Best Engines for 14 straight years, since the award's inception. For the truck and bus maker "Nissan Diesel," it is a separate company from Nissan Motors, please see UD instead.
========================================
Sam
Free Car Loans (https://www.gov-auctions.org/free/carloan.php)