Thousands of
Millions of yen U.S. dollars (Note 3)
2004 2003 2002 2004
For the years ended Mar. 31, 2005 Mar. 31, 2004 Mar. 31, 2003 Mar. 31, 2005
Net sales ¥8,576,277 ¥7,429,219 ¥6,828,588 $80,152,121
Cost of sales (Notes 6 and 11) 6,351,269 5,310,172 4,872,324 59,357,654
Gross profit 2,225,008 2,119,047 1,956,264 20,794,467
Selling, general and administrative 
expenses (Notes 6 and 11) 1,363,848 1,294,192 1,219,034 12,746,243
Operating income 861,160 824,855 737,230 8,048,224
Other income (expenses):
Interest income 14,934 10,321 7,566 139,570
Interest expense (26,656) (27,290) (25,060) (249,121)
Equity in earnings of unconsolidated 
subsidiaries and affiliates 36,790 11,623 11,395 343,832
Other, net (Note 12) (92,995) (83,012) (36,507) (869,112)
(67,927) (88,358) (42,606) (634,831)
Income before income taxes and 
minority interests 793,233 736,497 694,624 7,413,393
Income taxes (Note 13):
Current 179,226 137,745 113,185 1,675,009
Deferred 78,837 81,295 85,513 736,794
258,063 219,040 198,698 2,411,803
Minority interests (22,889) (13,790) (761) (213,917)
Net income (Note 18) ¥ 512,281 ¥ 503,667 ¥ 495,165 $ 4,787,673
See notes to consolidated financial statements.
CONSOLIDATED STATEMENTS OF INCOME
Nissan Motor Co., Ltd. and Consolidated Subsidiaries
Fiscal years 2004, 2003 and 2002
FINANCIAL SECTION
Nissan Annual Report 200474