TOKYO - Nissan Europe was left alone, but Nissan operations in Japan and North American have been dramatically restructured.
The company has 25 platforms now. It will reduce the number to 14 by 2001, and to 10 by 2003.
Nissan said it will freeze investment in most markets and sell off real estate in Japan. It will put more emphasis on trying to build North American operations.
Ongoing investment in Europe would not be affected.
Nissan is adding the Almera to its UK plant, where it builds the Micra and Primera, and it is expanding its plant in Spain to add two compact minivans, the first arriving in 2000.
Sales in Europe were level in April but were up 7.9 percent for the first four months to 147,245 units.
Europe is the only significant market where Nissan leads its rival Toyota. In the past, it has entered a segment whenever Toyota did. That changed last week.
Nissan said it expects to report a loss of some $106 million for the fiscal year ended 31 March 1998.
Nissan said it will reduce global inventories by $1.9 billion and start a $3-billion cost-cutting drive.
TOKYO - A manager steeped in non-Japanese accounting will gain new power as a result of Nissan Motor Co.'s financial reform plan.
Tadahiro Shirai, who spent 1993 to 1997 as president of Nissan Europe NV, was named chief financial officer by Nissan President Yoshikazu Hanawa.
'For those projects that don't meet our profit targets,' said Hanawa, 'the CFO will say no, and those projects will never go forward.'
James B. Treece