text: a factor that we have to recognize and address in the 
  
  coming years. Last year, the pressure was concentrated on 
  
  the supply side, going forward we see an increasingly 
  
  challenging cost environment. Working closely with our key 
  
  raw material suppliers as well as parts suppliers and 
  
  accelerating our cost reduction countermeasures will be 
  
  key during NISSAN Value-Up. 
  
  Our purchasing philosophy at Nissan is focused on 
  
  value, quality and relationships. We want our purchasing 
  
  process to be transparent and proactive, and create more 
  
  value for our suppliers and for the company.” 