Updated Statement Regarding Status of Japanese Earthquake and Impact on Nissan Americas Operations

FRANKLIN, Tenn., March 16, 2011 /PRNewswire/ -- The following statement will serve as the latest update on Nissan Americas operations following the earthquake in Japan and is complementary to an update provided by Nissan Motor Co., Ltd. earlier today. All updates included within are current as of today's date. As the situation continues to develop Nissan Americas will provide routine updates as appropriate.

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Employees

• Nearly all Nissan Americas employees traveling in Japan on business have returned to their home countries. The few remaining Nissan Americas travelers in the country are scheduled to return no later than March 19.
• We have confirmed the safety of all expat employees and their families in Japan and we continue to stay in close contact with these individuals. Currently, all business travel to Japan has been suspended. Nissan is aware that a number of national governments have recommended their citizens consider leaving the greater Tokyo area or Japan entirely. Nissan is working with each Americas employee regarding their own personal choices and will fully support their decision to stay or leave.

Earthquake Relief Efforts

• In response to the devastating earthquake and tsunami that severely damaged Japan, Nissan Americas has pledged $1 million (80 million yen) to the American Red Cross in relief effort support for the country. This contribution will be supported by all five of Nissan Americas main markets (U.S., Canada, Mexico, Brazil and Latin America.)
• Immediate $500,000 (40 million yen) cash donation to the American Red Cross plus Nissan will match, dollar for dollar, total contributions raised by our online visitors (employees, retirees, dealers, suppliers and customers) up to $500,000 (40 million yen).
• "Recovery in Japan will be very difficult and will take some time to accomplish after a disaster of this magnitude," said Carlos Tavares, chairman, Nissan Americas. "Nissan wants to do our part to immediately help the citizens of Japan during their time of critical need."
• Including the $1 million (80 million yen) committed by Nissan Americas, Nissan's global contributions will reach more than $3.75 million (400,000,000 million yen) in cash and in-kind contributions to support earthquake relief efforts. This includes global and regional corporate donations, employee gift matching, as well as the provision of 50 vehicles to support aid agencies in the affected areas of Japan.

Facilities/Production

• All Nissan Americas manufacturing facilities remain operational and will continue to operate on a planned production schedule until further notice.
• Although all plants in Japan, except for the Iwaki engine plant, have been able to repair some damaged facilities and/or equipment, it is still taking time to arrange delivery of parts from our suppliers.
• As for the Iwaki engine plant, with aftershocks still heavily impacting the region, restoration activities are expected to take longer than at other plants.
• Our operations schedule will be as follows:
  • Oppama Plant, Tochigi Plant, Yokohama Plant and Nissan Shatai are suspending operations until Sunday, March 20 (Note: Part of the Yokohama Plant resumed operations on March 13.)
  • Kyushu Plant and Nissan Shatai Kyushu are resuming production on Thursday, March 17, and Friday, March 18, while inventory of supplies lasts. However, operations after Saturday March 19 are yet to be decided.
  • Nissan's JATCO's Fuji Plant and Fujinomiya Plant, which manufactures transmissions, have reported partial damage to its buildings and equipment. Operations have been suspended and damage is currently being assessed.

Vehicle Stock / Sales Impact

• Nearly 70 percent of the vehicles Nissan Americas sells in the region are produced in the region and manufacturing operations are continuing to operate on a normal schedule.
• Due to an approximately 50 days' supply of vehicle stock on the ground in the region or already in transit from Japanese ports, Nissan Americas does not anticipate any near-term impact on sales or vehicle availability.
• Approximately 1,300 Infiniti vehicles were damaged in port in Japan due to the earthquake/tsunami, which equates to less than a few days' supply for the brand. Historically, Infiniti keeps an approximately 20,000 unit inventory in the U.S., so this unit loss is expected to be made up over the next several months.

As the situation continues to develop Nissan Americas will provide routine updates as appropriate.

SOURCE Nissan North America

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