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              [html]<thead><tr><td>CONSOLIDATED</td></tr></thead><tbody><tr><td>STATEMENTS</td></tr><tr><td>OF</td></tr><tr><td>SHAREHC</td></tr><tr><td>OLI</td></tr><tr><td>OERS ’</td></tr><tr><td>EQUITY</td></tr><tr><td>Nissan Motor Co., Ltd. and Consolidated Subsidiaries Fiscal years 2004.2003 and 2002</td></tr><tr><td>Milio</td></tr><tr><td>For the pears ended</td></tr><tr><td>2004Me_31.2005</td></tr><tr><td>Me.</td></tr><tr><td>2002Mw. 31.2003</td></tr><tr><td>Common stock</td></tr><tr><td>Balance at beginning of the year ( 2004 – 4.520.715.112 shares ; 2003 – 4.520.715.112 shares ;</td></tr><tr><td>2002 — 4.517.045.210 shares ) nversion of convertible bonds</td></tr><tr><td>¥</td></tr><tr><td>605.814</td></tr><tr><td>¥</td></tr><tr><td>605.814</td></tr><tr><td>Y</td></tr><tr><td>604.556</td></tr><tr><td>2002 — 3.669.902 shares )</td><td>—</td></tr><tr><td>−</td><td>1.258</td></tr><tr><td>Balance at end of the year ( 2004 – 4.520.715.112 shares ; 2003 — 4.520.715.112 shares ;</td></tr><tr><td>2002 — 4.520.715.112 shares )</td></tr><tr><td>¥</td></tr><tr><td>605.814</td></tr><tr><td>¥</td></tr><tr><td>605.814</td></tr><tr><td>Y</td></tr><tr><td>605.814</td></tr><tr><td>Capital surplus</td></tr><tr><td>Balance at beginning of the year Conversion of convertible bonds</td></tr><tr><td>¥</td></tr><tr><td>804.470</td></tr><tr><td>¥</td></tr><tr><td>804.470</td></tr><tr><td>Y</td></tr><tr><td>803.21.1, 258</td></tr><tr><td>Balance at end of the year</td></tr><tr><td>04.470</td></tr><tr><td>¥</td></tr><tr><td>804.470</td></tr><tr><td>Y</td></tr><tr><td>804.470</td></tr><tr><td>Retained earnings</td></tr><tr><td>Balance at beginning of the year</td></tr><tr><td>¥</td></tr><tr><td>286.299</td></tr><tr><td>¥</td></tr><tr><td>878.655</td></tr><tr><td>¥</td></tr><tr><td>430.751</td></tr><tr><td>Net income</td></tr><tr><td>512.281</td></tr><tr><td>503.667</td></tr><tr><td>495.165</td></tr><tr><td>Cash dividends paid</td></tr><tr><td>( 94.236 )</td></tr><tr><td>( 74.594 )</td></tr><tr><td>( 50.800 )</td></tr><tr><td>Bonuses to directors and statutory auditors Other ( Nohe 14 )</td></tr><tr><td>( 404 ) 1.159</td></tr><tr><td>( 410 )( 21.019 )</td></tr><tr><td>( 407 )</td></tr><tr><td>Balance at end of the year</td></tr><tr><td>¥</td></tr><tr><td>, 715.099</td></tr><tr><td>χ</td></tr><tr><td>286.299</td></tr><tr><td>χ2</td></tr><tr><td>878.655</td></tr></tbody>
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