TSE Filing: Notice Concerning Distribution of Dividends from Surplus

	May 11, 2023
Company Name	Nissan Motor Co., Ltd.
Securities Code	7201 (TSE Prime Market)
Inquiry	IR Department
	(TEL [phone])

Notice Concerning Distribution of Dividends from Surplus

The Board of Directors of Nissan Motor Co., Ltd. (the "Company") decided at the meeting held on May 11, 2023, to distribute dividends from surplus with a record date of March 31, 2023, as described below. The resolution is subject to approval at the 124th Ordinary General Meeting of Shareholders to be held on June 27, 2023.

1. Details of Year-End Dividend

		Previous forecast	Year-end dividend for
	Amount	(Announced on	the fiscal year ended
		May 12, 2022)	March 31, 2022
Record date	March 31, 2023	March 31, 2023	March 31, 2022
Dividend per share	10.00 yen	5.00 yen	5.00 yen
Total dividend	39,174 million yen	―	19,573 million yen
Effective date	June 28, 2023	―	June 29, 2022
Source of dividend	Retained earnings	―	Retained earnings

2. Reasons

The Company determines dividends by comprehensively assessing the levels of profit, free cash flow

from the automotive business, and net cash for the automotive business.

Despite the challenging environment, the Company's operating profit and net income attributable to owners of the parent for the fiscal year ended March 31, 2023, exceeded the forecast previously announced in May 2022, due to its improved performance. The Company also continued to enhance its automotive free cash flow, achieving positive automotive free cash flow for the full fiscal year and healthy levels of automotive net cash with over 1.2 trillion yen. Given these results, the Company decided to increase the year-end dividend for the fiscal year ended March 31, 2023, from the previous forecast of 5 yen per share, to 10 yen per share.

The Company continues to focus on strengthening its capability, improving business performance, and enhancing shareholder returns.

(Reference) Details of full-year dividend

		Dividend per share
	Interim	Year-end	Total
Dividend for the fiscal year	0.00 yen	10.00 yen	10.00 yen
ended March 31, 2023
Dividend for the fiscal year	0.00 yen	5.00 yen	5.00 yen
ended March 31, 2022
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