NISSAN sets up new car rental company

TOKYO .- Nissan Motor Co., Ltd. and Nissan Financial Services, Co., Ltd. (NFS), a wholly-owned subsidiary of Nissan, today provided details of the changes to its car rental business division announced in June 2008.

A new company, named “Nissan Car Rental Solution Co., Ltd.”, will be established on December 1st as a subsidiary of Nissan Network Holdings Co., Ltd.. This will separate the car rental business division of NFS and integrate it under Nissan Network Holdings Co., Ltd.,

NFS provides car rental service under the “Nissan Rent-a-Car” brand. In Japan, the car rental business is expected to grow further due to the diversification of vehicle ownership patterns and is considered as a core business for Nissan. The new company will not only manage the car rental business but will also include a marketing function to encourage the purchase of Nissan vehicles. As a brand name, “Nissan Rent-a-Car” will be retained.

NFS will continue to focus on its core business of vehicle leasing and financing.