Nissan Holds 118th General Meeting for Shareholders in Japan
It is one thing for a car company to lay out its vision for the future, and it’s another thing entirely to get investments and support for that plan. This month, Nissan held its 118th Ordinary General Meeting of Shareholders in Yokohama, Japan and made the case to their existing investors and put several issues to a vote. The whole session lasted an hour and 45 minutes and 2,250 shareholders were present.
Carlos Ghosn spoke to the gathered group in his role as Chairman of the Renault-Nissan Alliance since he passed on his role as CEO of Nissan to Hiroto Saikawa, who also spoke. Both men pointed to Nissan’s good financial performance in recent years to support their vision of the future. Shareholders were asked to approve three resolutions. The first was for the appropriation of retained earnings for the 118th fiscal year, followed by a resolution to elect nine directors, not because they all quit but because their terms were up. Lastly, the shareholders elected a statutory auditor to insure that all financial numbers are being correctly reported in the future.
In this meeting, Nissan also estimated what their future earnings might look like. It forcasts a five-yen increase in the full-year dividend for the financial year 2017, bringing it to a total of 53 yen a share. This demonstrates that Nissan is still confident in its cash flows for the year. Nissan also speculates that its net revenue will be about 11.8 trillion yen for the year ending on March 31, 2018. We applaud Nissan for its high estimate, but at The News Wheel we wonder if the number is a bit optimistic since a slowdown in new car sales is predicted in the coming months.
We wish Nissan all the best and hope that they live up to the expectations they set for themselves this year.