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              [html]<thead><tr><td></td><td>Volume : Nissan will achieve global sales of 4.2 million units in fiscal 2008 — an increase of 812.000 units over fiscal 2004.</td></tr></thead><tbody><tr><td></td><td>ROIC : Nissan will achieve a 20 percent or higher return on invested capital on average over the course of the plan, excluding cash on hand.</td></tr><tr><td></td><td>To meet this commitment, over the NISSAN Value - Up period we will launch 28 new products, including 10 models that are highly innovative in their concept and benefits.</td></tr><tr><td></td><td>Our investment in advanced technology continues. From facal 2002 to 2005 we have increased spending</td></tr><tr><tdcolspan="2">on research and development by 50 percent. Over the next three years we will invest a further S percent of net sales annually, creating new and exciting technologies to benefit our customers.</td></tr><tr><tdcolspan="2">During NISSAN Value - Up we will pursue several key business opportunities :</td></tr><tr><tdcolspan="2">• Our Infiniti luxury brand will extend its reach into new markets such as China and Russia and continue to establish its credibility as a Tier - 1 luxury player.</td></tr><tr><tdcolspan="2">• We will develop our Light Commercial Vehicle biomarkers in and supporting ( E. g., 0 ). nursestic, negative</td></tr><tr><tdcolspan="2">business into a fully competitive global operation through new market and product entries.</td></tr><tr><tdcolspan="2">• We will take a more efficient global sourcing approach to maximize our opportunities and minimize</td></tr><tr><td></td><td>our overall costs as we grow. Our engineering, production and purchasing functions will continue</td></tr><tr><td></td><td>their acceleration towards being fully integrated global operations.</td></tr><tr><td></td><td>We will continue to invest in new and emerging markets, including China, India and Russia.</td></tr><tr><td></td><td>NISSAN Value - Up also delivers increased value for our shareholders through a clear and well - defined dividend</td></tr><tr><td></td><td>strategy. By the end of the plan period, we will pay an annual dividend of no less than 940 per share, a 66</td></tr><tr><td></td><td>percent increase over fiscal 2004.</td></tr><tr><td></td></tr><tr><td></td></tr><tr><tdcolspan="2"</tr><tr><td></td></tr><tr><tdcolspan="2"</tr><tr><tdcolspan="2"</tr><tr><tdcolspan="2"</tr><tr><tdcolspan="2"</tr><tr><tdcolspan="2"</tr><tr><tdcolspan="2"</tr><tr><tdcolspan="2"</tr><tr><tdcolspan="2"</tr><tr><tdcolspan="2"</tr><tr><tdcolspan="2"</tr><tr><tdcolspan="2"</tr><tr><tdcolspan="2"</tr></tbody>
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