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## Fiscal 2011 Financial Performance 

## Net sales 

For fiscal year 2011, consolidated net revenues increased 7.2%, to 9.409 trillion yen, which reflected by sales volume increase in spite of the strong yen. 

## Operating profit 

Consolidated operating profit totaled 545.8 billion yen, which was improved 1.6% from last year. In comparison to last year’s consolidated operating profit, the variance was due to the following factors: 

• The 170 billion yen negative impact from foreign exchange came mainly from the appreciation of the yen against the U.S. dollar. 

• The increase in energy and raw material costs was a negative 115.6 billion yen. 

• Purchasing cost reduction efforts resulted in a saving of 200.1 billion yen. 

• Volume and mix produced a positive impact of 223.6 billion yen. 

• The increase in selling expenses resulted in a 151.3 billion yen negative movement. 

• R&D expenses increased by 33.1 billion yen. 

• Sales financing contributed 49.8 billion yen. 

• Other items produced a positive impact of 4.8 billion yen. 

## IMPACT ON OPERATING PROFIT 

## NET SALES 

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## OPERATING PROFIT 

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NISSAN Annual Report 2012 

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