a) As described in Note 2(b), effective April 1, 2003, Nissan Motor Manufacturing (UK) Ltd., a consolidated subsidiary, implemente d early
adoption of a new accounting standard for retirement benefits in the United Kingdom. The effect of this change was to decrease operating
income in the “Automobile” segment by ¥1,686 million for the year ended March 31, 2004 as compared with the corresponding amount which
would have been recorded if the previous method had been followed.
b) As described in Note 2(c), effective April 1, 2003, the Company and its domestic consolidated subsidiaries changed their method  of
accounting for noncancelable lease transactions which transfer substantially all risks and rewards associated with the ownershi p of assets,
from accounting for them as operating leases, to finance leases. The effect of this change was to decrease sales and operating expenses in
the “Automobile” segment by ¥237 million and ¥21,805 million respectively, to increase operating income, total assets, deprecia tion expense
and capital expenditures in the “Automobile” segment by ¥21,568 million ¥136,522 million, ¥46,986 million and ¥55,581 million, respectively,
to decrease sales and operating expenses and capital expenditures in the “Sales Financing” segment by ¥33,351 million, ¥33,374 million and
¥29,716 million, respectively, to increase operating income, total assets and depreciation expense in the “Sales Financing” seg ment by ¥23
million, ¥662 million and ¥292 million, respectively, and to increase sales and operating expenses in “Eliminations” by ¥15,645  million for the
year ended March 31, 2004 as compared with the corresponding amounts which would have been recorded if the previous method had been
followed.
FINANCIAL SECTION
Nissan Annual Report 2004 93
Fiscal year 2002 (For the year ended Mar. 31, 2003)
Sales
Automobile Financing Total EliminationsConsolidated
Millions of yen
I. Sales and operating income
Sales to third parties................................................................................... ¥6,444,460 ¥ 384,128 ¥6,828,588 ¥ — ¥6,828,588
Inter-segment sales and transfers................................................... 42,775 11,740 54,515 (54,515) —
Total sales............................................................................................................ 6,487,235 395,868 6,883,103 (54,515) 6,828,588
Operating expenses.................................................................................... 5,818,023 335,986 6,154,009 (62,651) 6,091,358
Operating income.......................................................................................... ¥ 669,212 ¥ 59,882 ¥ 729,094 ¥ 8,136 ¥ 737,230
II. Assets, depreciation and capital expenditures
Total assets........................................................................................................ ¥5,607,323 ¥3,103,889 ¥8,711,212 ¥(1,362,029) ¥7,349,183
Depreciation and amortization............................................................ ¥ 213,569 ¥ 157,556 ¥ 371,125 ¥ — ¥ 371,125
Capital expenditures................................................................................... ¥ 410,003 ¥ 451,630 ¥ 861,633 ¥ — ¥ 861,633