text: **Looking to the New Fiscal Year**
  
  Nissan will continue to grow in fiscal 2005. Even assuming a relatively flat total industry volume 
  
  of 61 million units globally, Nissan’s sales are forecast to come to 3,618,000 units, a 6.8 percent 
  
  increase over the prior year. 
  
  Worldwide, we will launch six all-new models—five in Japan, one in Europe—leading to 
  
  twenty regional product events. 
  
  **Our sales objectives**
  
  • Japan: 933,000 units, a 10 percent increase over last year 
  
  • U.S.: 1,047,000 units, an increase of 3.3 percent 
  
  • Europe: 550,000 units, a 1.1 percent increase over last year 
  
  • General Overseas Markets: 1,088,000 units, a 10.7 percent increase 
  
  **Our financial outlook**
  
  Any new fiscal year brings risks and opportunities, and 2005 brings very high levels of 
  
  uncertainty and risks—volatility in exchange rates, higher interest rates, higher commodity prices, 
  
  higher energy prices, higher incentives and uncertainty about growth in the U.S. and Japan. The 
  
  opportunity is in following through on the NISSAN Value-Up plan quickly and effectively. 