96th Ordinary General Shareholders Meeting
Overview
- Date:Wednesday, June 26, 2019
-
Venue: Head Office Main Building,
Nissan Shatai Co., Ltd. 2-1,
Tsutsumicho, Hiratsuka, Kanagawa - Start time:10:00 a.m.
- End time:10:51a.m. (duration: 51minutes)
- Shareholders attending:30
Note: We do not use an internet-based system for the exercise of voting rights at present. The exercise of voting rights is conducted by means of the voting cards sent out to shareholders along with their invitations to our company's general meetings of shareholders at which such rights are exercised.
Nissan Shatai held its 96th Ordinary General Shareholders Meeting at 10:00 a.m. on Wednesday, June 26, 2019, at its Head Office Main Building in Hiratsuka, Kanagawa Prefecture. Following announcement of the number of voting rights, the fiscal 2018 business report and other statements were presented. Then, each proposal submitted was deliberated. Company proposals (Proposals 1 ,2,3 and 4) were approved and Shareholder proposals (Proposals 5 and 6) were rejected, the Ordinary General Shareholders Meeting was closed.Details are set out below.
Fiscal 2018 Business Report (Consolidated Basis)
Review of Business in Fiscal 2018
Compared with the previous fiscal year, vehicle sales volume increased by 8.3% year-on-year to 229,901 units. Including vehicle parts and other products, consolidated net sales increased by 7.9% to 602.8 billion yen.
Earnings increased despite the negative effect of higher prices of raw materials because prior-year earnings were impacted by the lower production volume and decline in assembly line speed caused by the final vehicle inspection issue. Operating income increased by 485.5% to 7.7 billion yen and ordinary income increased by 365.4% to 8.1 billion yen. Profit attributable to owners of parent was 5.5 billion yen, an improvement of 7.8 billion yen from one year earlier when there was a special loss of 4.3 billion yen for the cost of vehicle recall campaigns.
Outlook for Fiscal 2019
Net sales are expected to decrease 16.8% to 501.6 billion yen, operating income to decline 10.1% to 7.0 billion yen, ordinary income to drop 9.5% to 7.4 billion yen and profit attributable to owners of parent will be 4.6 billion yen.
Agenda Items
Matters Reported
- 96th fiscal Business Report (April 1, 2018 to March 31, 2019), Consolidated Financial Statements, and Audit Reports by Accounting Auditor and the Board of Statutory Auditors
- 96th fiscal Financial Statements (April 1, 2018 to March 31, 2019)
Matters Resolved (Company proposals (Proposals 1,2,3 and 4) were approved and Shareholder proposals (Proposals 5 and 6) were rejected)
Company proposals (Proposals 1, 2, 3 and 4)
Proposal 1: Appropriation of Surplus
Proposal 2: Election of six directors as the terms of office of all current directors expire
Proposal 3: Election of two Statutory Auditors
Proposal 4: Election of One Substitute Statutory Auditor
Shareholder proposals (Proposals 5 and 6)
Proposal 5: Amendments to the Articles of Incorporation (Becoming a Company with a Nominating Committee, etc.)
Proposal 6: Amendments to the Articles of Incorporation (The chairperson of the meetings of the Board of Directors shall be an outside director)
Questions
・Activities of Governance Study Committee after its establishment on May 14, 2019.
・Planed schedule of study and formulation of opinion by Governance Study Committee.
Plant Tour for Shareholders
After the 96th Ordinary General Shareholders Meeting closed, a plant tour was conducted to provide shareholders with a deeper understanding of Nissan Shatai's business and production activities.
The tour took place in zone 2 of the Shonan Plant where Nissan's promising next generation taxi NV200 is manufactured.
Shareholders viewed how Nissan Shatai simultaneously and efficiently manufactures multiple models, including models with different basic structures such as frames and monocoques, on a single production line.
After watching the video, shareholders viewed welding, assembly, and during the hour-long tour.
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