text: all phases: planning, development and launch, right through 
  
  to the end of the lifecycle. Our program directors are 
  
  persuasive people with strong characters, special skills and 
  
  attributes, and they are not afraid to challenge the system. 
  
  Their diversity contributes tremendously to Nissan’s 
  
  success. The cumulative work of all these divisions results in 
  
  a very consistent organization with an upstream process 
  
  that creates value. 
  
  Looking at Nissan’s global output over the last six years, 
  
  it is clear that some terrific products have been created, and 
  
  the value of the Company as a whole is greater. There are 
  
  many scorecards that reflect this, and our stakeholders 
  
  certainly know Nissan’s success first-hand. At the same 
  
  time, we must prepare for the future. We need to reinforce 
  
  the strength of our program management groups and 
  
  establish more precise, accurate groups to standardize and 
  
  improve processes for the future. Ironically, our 
  
  achievements have created uncertainty for the future. 
  
  Success creates risk, and the more we highlight our 
  
  successes, the more we raise the anxiety level of investors. 
  
  How can our new products be as good as those already 
  
  released? How can we keep it all going? 
  
  One way to sustain our strong pace is to take greater 