NISSAN SHATAI | FOR INVESTORS | Stocks & Bonds | General Shareholders Meeting

General Shareholders Meeting

Overview

Date:Wednesday, June 26, 2024
Venue: Head Office Main Building,
Nissan Shatai Co., Ltd. 2-1,
Tsutsumicho, Hiratsuka, Kanagawa
Start time:10:00 a.m.
End time:11:14 a.m.（duration:74minutes）
Shareholders attending:25
Questions:Measures for increasing support of minority shareholders on agenda of director appointments
Change of management policy to obtain further support of minority shareholders on funding to Nissan (CMS)
Monitoring status on transactions with Nissan at the Business Monitoring Committee
(opinion) Description of disclosed information on the Business Monitoring Committee as well as the Nominations and Remuneration Committee
(opinion) Risk of delisting
EV production volume and its ratio for coming 3 years

101st Ordinary General Shareholders Meeting: Notice of Convocation (PDF:)

Note: For information on the exercise of voting rights via the Internet, please refer to P3 of the Notice of Convocation.

Nissan Shatai held its 101st Ordinary General Shareholders Meeting at 10:00 a.m. on Wednesday, June 26, 2024, at its Head Office Main Building in Hiratsuka, Kanagawa Prefecture. Following announcement of the number of voting rights, the fiscal 2023 business report and other statements were presented. Then, each proposal submitted was deliberated. Company proposals (Proposals 1,2,3 and 4) Shareholder proposal (Proposal 5) were approved, the Ordinary General Shareholders Meeting was closed. Details are set out below.

Fiscal 2023 Business Report (Consolidated Basis)

Review of Business in Fiscal 2023

Compared with the previous fiscal year, vehicle sales volume increased 2.0% year-on-year to 139,121 units. Net sales decreased by 2.1% to 301 billion yen mainly due to a decrease in the volume of orders for passenger vehicles such as the ARMADA, etc., even though sales of commercial vehicles such as the NV200 Vanette, etc. grew.
Looking at income and loss, the operating income/loss decreased by 77.7% to 900 million yen due to the decrease in the volume of orders, deterioration of model mix, impact of market fluctuations, and other factors, ordinary income decreased by 72.8% to 1.3 billion yen, and profit attributable to owners of parent decreased by 89.5% to 400 million yen.

Outlook for Fiscal 2024

Net sales are expected to increase 9.2% to 328.7 billion yen, operating income expected to increase 788.4% to 8.7 billion yen, ordinary income expected to increase 546.2% to 9.0 billion yen and profit attributable to owners of parent will be 5.4 billion yen.

Agenda Items

Matters Reported

101st fiscal Business Report (April 1, 2023 to March 31, 2024), Consolidated Financial Statements, and Audit Reports by Accounting Auditor and the Board of Statutory Auditors
101st fiscal Financial Statements (April 1, 2023 to March 31, 2024)

Matters Resolved (Company proposals (Proposals 1,2,3 and 4) were approved. Shareholder proposal (Proposal 5) was rejected.)

Company proposals (Proposals 1, 2, 3 and 4)
Proposal 1: Appropriation of Surplus
Proposal 2: Election of One Director
Proposal 3: Election of One Statutory Auditor
Proposal 4: Election of One Substitute Statutory Auditor

Shareholder proposals (Proposals 5)

Proposal 5: Change to the Articles of Incorporation Pertaining to the Establishment of a Minority Shareholder Protection Committee

Questions

Measures for increasing support of minority shareholders on agenda of director appointments
Change of management policy to obtain further support of minority shareholders on funding to Nissan (CMS)
Monitoring status on transactions with Nissan at the Business Monitoring Committee
(opinion) Description of disclosed information on the Business Monitoring Committee as well as the Nominations and Remuneration Committee
(opinion) Risk of delisting
EV production volume and its ratio for coming 3 years

Past General Shareholders Meeting

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