text: rate at the same time. We want to support sales by providing financing, and keep the loss ratio low. 
  
  In the past, NFS depended on the parent company for funding. Since Nissan and NFS had 
  
  their financial ratings upgraded, we issued our first public bond in September 2003. We have also 
  
  issued commercial paper and diversified our funding sources. As a result, our reliance on the parent 
  
  company for funding has been reduced to almost zero. 
  
  Sales finance became actively involved in sales support during NISSAN 180. We have always 
  
  been a source of profit, but now we are aiming to enhance the value chain as well. We have the 
  
  largest number of business lines of any finance company, including credit loans, corporate and 
  
  private leasing, car rentals, credit cards, insurance, maintenance and much more. Because we have 
  
  more touch points with the customer, we have a great opportunity to easily cross-sell our products. 
  
  Nissan is allocating more resources to light commercial vehicles, which is a perfect platform for us 
  
  as well. And two years ago we created a fleet division with Nissan that provides both vehicles and 
  
  a full range of services including total outsourcing of fleet management. 
  
  The Alliance with Renault has played a central role in our development over the past few years. 