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              [html]<thead><tr><td>hare price performance</td></tr></thead><tbody><tr><td>Phat should investors expect from Nissan ’ s share price? Over the long - term, share prices reflect fundamentals</td></tr><tr><td>ut in the short - term share prices are driven by erformance against expectations.</td></tr><tr><td>In Nissan ’ s case, recent share price trends signal varket expectations that greater uncertainty will result in</td></tr><tr><td>Age growth. So our challenge is to both manage those xpectations and to exceed them. This supports our belief</td></tr><tr><td>a high level of disclosure and transparency.</td></tr><tr><td>Our business plans and commitments, and our ability</td></tr><tr><td>communicate our strategy clearly, are the most effective eans to convey transparency. But we recognize that</td></tr><tr><td>nancial announcements alone are no longer sufficient ommunication for the markets. We need to provide model</td></tr><tr><td>orward - looking information and to avoid surprises that</td></tr><tr><td>Percentage of the certainty for shareholders and investors.</td></tr><tr><td>We intend to serve the professional investment</td></tr><tr><td>Post - order</td></tr><tr><td>rew by 51.323 in fiscal 2004, increasing our list to</td></tr><tr><td>93.000 shareholders.</td></tr><tr><td>That growing interest in Niosan was apparent in the arnout of more than 1.800 people at our June 21</td></tr><tr><td>nareholders ’ meeting in Yokohama. Questions from the</td></tr><tr><td>nareholders were many and varied, but it was encouraging</td></tr><tr><td>• hear in each one a passionate commitment to Nissan.</td></tr><tr><td>This year, and in the future, I hope we merit such</td></tr><tr><td>Jpport from all our shareholders as we create lasting</td></tr><tr><td>alue in a transparent way.</td></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr></tbody>
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