text: **The recovery story is complete**
  
  Fiscal 2004 was a tough year, full of both anticipated and unexpected risks, but Nissan lived up 
  
  to all the challenges. We had a record year in revenues, operating profit, net income, sales 
  
  volume and production. 
  
  **Sales performance**
  
  Global sales came to 3,388,000 units, which exceeded our forecast of 3,380,000 units. This 
  
  record level represents an increase of 10.8 percent, or 331,000 units, over fiscal 2003, and is 
  
  281,000 units more than the previous record level set in 1990. In fiscal 2004, we released nine 
  
  all-new models globally. 
  
  Along with record sales, we achieved a global production record. Nissan’s manufacturing 
  
  plants turned out 3,378,000 units, or 293,000 units more than the previous record. 
  
  **Financial performance**
  
  • Consolidated net revenues came to 8 trillion ¥576.3 billion, up 15.4 percent from last year. 
  
  • Consolidated operating profit improved by 4.4 percent to a record ¥861.2 billion. As a 
  
  percentage of net revenue, our operating profit margin came to 10.0 percent. 
  
  • Net income reached ¥512.3 billion, an increase of ¥8.6 billion. 